Datastream Request Table Template 5.0

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Key Economic Indicators and Events:
Company Event Calendar - Week 12
Date
Indicator/Event
Country
Company
Date/Month
Event
18-Mar-15
18-Mar-15
19-Mar-15
19/20-Mar-2015
FOMC rate announcement
FOMC economic projections
Norges Bank rate announcement
EU Summit
US
US
NOR
EU
Atrium Ljungberg
16-Mar-15
Annual report 2014
Key figures update
16/03/2015
Bonds & CDS
Last
Last week
Last month
YTD
Interest rates
Norway
Sweden
Denmark
Euro
iTraxx Europe 5Y
49.64
1.9 %
-12.3 %
-22.0 %
Repo rate
1.25%
-0.10%
0.05%
0.05%
iTraxx Crossover 5Y
252.09
0.4 %
-15.7 %
-28.1 %
1M (Nibor, Stibor, Cibor, Euribor)
1.28%
0.01%
-0.31%
-0.01%
iTraxx Fin Senior 5Y
56.01
2.9 %
-12.6 %
-17.2 %
3M (Nibor, Stibor, Cibor, Euribor)
1.30%
0.05%
-0.20%
0.02%
Norway 10Y Govt. index
1.5 %
-9.2 %
17.1 %
-4.2 %
6M (Nibor, Stibor, Cibor, Euribor)
1.24%
0.09%
-0.03%
0.07%
Sweden 10Y Govt. index
0.6 %
-26.3 %
25.0 %
-33.8 %
1Y swap
1.11%
0.01%
-0.10%
0.08%
UK 10Y Govt. index
1.7 %
-13.1 %
2.9 %
-1.8 %
2Y swap
1.05%
0.06%
0.11%
0.09%
3Y swap
1.12%
0.20%
0.21%
0.13%
4Y swap
1.24%
0.34%
0.31%
0.20%
5Y swap
1.38%
0.49%
0.41%
0.28%
6Y swap
1.51%
0.64%
0.50%
0.34%
Equity indices
Last
Last week
Last month
YTD
611
-1.1 %
-0.8 %
6.2 %
7Y swap
1.62%
0.77%
0.58%
0.42%
OMX Stockholm 30
1,665
0.2 %
1.4 %
13.7 %
8Y swap
1.70%
0.88%
0.67%
0.49%
OMX Helsinki 25
3,519
1.2 %
4.2 %
17.8 %
9Y swap
1.79%
0.98%
0.75%
0.56%
907
2.3 %
12.9 %
21.9 %
10Y swap
1.86%
1.06%
0.82%
0.63%
19,254
1.5 %
7.5 %
10.3 %
OSEBX Oslo
OMX Copenhagen 20
Nikkei 225
S&P 500 COMPOSITE
2,053
-0.9 %
-2.1 %
NASDAQ COMPOSITE
4,872
-1.1 %
-0.5 %
2.9 %
DAX 30
11,902
3.0 %
8.6 %
21.4 %
FTSE 100
6,741
-2.5 %
-1.9 %
2.7 %
Property indices
Last
-0.3 %
Last week
Last month
YTD
Real estate equities
Last Last week
Sweden
SEK
%
ALM Equity
133.0
Atrium Ljungberg
124.6
Balder
134.2
Besqab
109.3
Last month
YTD
%
%
-1.3 %
4.7 %
14.4 %
-2.3 %
-5.7 %
8.6 %
-2.8 %
1.5 %
21.7 %
0.7 %
14.4 %
25.6 %
Implied
leverage
Dividend
yield
SEKm
%
%
x
2,336
1,714
27%
0.00%
2.1
28,502
16,599
42%
2.65%
1.4
47,392
25,470
46%
0.00%
1.8
1,671
1,695
-1%
n.a.
2.5
EV
Market cap
SEKm
P/Book*
GPR 250 PSI Europe
19.5
-0.2 %
-0.7 %
13.7 %
Castellum
131.0
-1.7 %
-5.1 %
7.3 %
40,932
22,533
45%
3.51%
1.7
GPR 250 PSI US
29.0
2.3 %
-3.2 %
1.6 %
Catena
124.0
0.8 %
7.8 %
17.3 %
6,438
3,180
51%
2.42%
1.6
GPR 250 PSI UK
18.9
-2.0 %
-1.5 %
7.1 %
Corem
29.8
-5.4 %
-8.3 %
3.8 %
9,192
3,610
61%
2.68%
1.5
GPR 250 PSI Global
15.1
1.0 %
-2.1 %
3.8 %
D. Carnegie & Co
58.0
-0.9 %
8.9 %
27.8 %
11,680
3,793
68%
0.00%
1.2
Diös
70.0
-0.4 %
5.3 %
21.2 %
12,825
5,231
59%
3.29%
1.6
Pangea Real Estate Indices (PREX)
PREX Sweden
720.6
-1.3 %
-4.0 %
12.3 %
Fabege
119.7
1.0 %
-5.5 %
19.0 %
39,847
19,797
50%
2.72%
1.4
PREX Norway
251.4
-1.5 %
4.4 %
19.6 %
FastPartner
122.3
-6.0 %
-9.4 %
12.4 %
14,977
7,341
51%
2.86%
2.2
PREX Denmark
224.5
-0.3 %
0.1 %
21.9 %
Heba
93.3
-2.6 %
-4.4 %
-4.1 %
5,486
3,849
30%
1.39%
1.4
PREX Finland
249.6
-3.5 %
0.2 %
16.1 %
Hemfosa Fastigheter
192.0
0.3 %
-0.8 %
16.4 %
27,784
12,618
55%
3.13%
1.5
PREX Office
369.2
-0.5 %
-2.5 %
14.2 %
Hufvudstaden
114.7
0.9 %
-3.2 %
12.9 %
29,924
24,857
17%
2.53%
1.5
PREX Retail
669.5
-2.9 %
0.6 %
19.4 %
JM
285.0
0.2 %
-4.6 %
14.5 %
20,579
21,970
-7%
2.81%
4.7
PREX Residential
1,065.2
-2.5 %
-2.7 %
7.6 %
Klövern
9.4
-3.1 %
-11.0 %
14.0 %
34,029
13,822
59%
3.21%
1.4
PREX Construction
362.0
-0.2 %
-2.0 %
18.5 %
Kungsleden
62.8
0.0 %
-6.7 %
11.1 %
21,659
11,421
47%
2.39%
1.3
PREX Mixed
362.0
-0.2 %
-2.0 %
18.5 %
NP3
40.2
0.5 %
-6.1 %
16.2 %
3,532
1,948
45%
1.24%
1.3
PREX Warehouse
641.3
-1.9 %
-2.7 %
13.8 %
NCC
281.6
-0.2 %
-3.2 %
14.1 %
36,842
30,536
17%
4.26%
3.5
PREX Total
40.4
-5.5 %
-9.6 %
4.6 %
Peab
67.4
-2.5 %
0.0 %
22.7 %
25,927
19,954
23%
3.34%
2.5
Platzer
37.0
-4.4 %
-1.1 %
10.4 %
8,302
3,543
57%
2.03%
1.2
Sagax
56.0
-13.5 %
-18.2 %
26.7 %
19,240
10,835
44%
1.43%
2.4
Skanska
199.7
-0.3 %
-2.7 %
18.9 %
77,210
83,860
-9%
3.38%
3.9
Tribona
38.0
-2.1 %
-7.1 %
-1.6 %
4,372
1,849
58%
1.32%
1.0
9.7
-6.8 %
7.8 %
55.6 %
4,893
1,080
78%
0.00%
0.7
135.5
-2.8 %
-5.9 %
4.5 %
38,057
23,035
39%
1.66%
1.8
1.8
Commodities
Last
Last week
Last month
YTD
WTI Spot ($)
44.9
-9.5 %
-14.8 %
-16.0 %
Wallenstam
Crude Oil-Brent ($)
Victoria Park
55.2
-8.0 %
-9.0 %
-1.1 %
Wihlborgs Fastigheter
162.5
-1.2 %
-6.3 %
13.8 %
26,566
12,489
53%
2.92%
Gold (U$/Troy Ounce)
1,153.6
-1.9 %
-6.4 %
-2.8 %
Norway
NOK
%
%
%
SEKm
SEKm
%
%
x
Silver (Cents/Troy ounce)
1,986.0
0.0 %
0.0 %
0.0 %
AF Gruppen
93.0
1.1 %
3.3 %
17.7 %
8,907
8,745
2%
5.38%
6.3
Alu (U$/MT)
1,769.5
-1.6 %
-2.6 %
-1.9 %
Entra
83.5
Copper (Grade A U$/MT)
5,882.0
2.0 %
2.2 %
-7.6 %
Norwegian Property
Zink (U$/MT)
2,000.5
0.0 %
-6.6 %
-7.7 %
Olav Thon Eiendomsselskap
Currencies
NOK/USD
NOK/EUR
-0.3 %
-0.6 %
9.2 %
33,361
16,259
51%
3.47%
1.8
10.9
0.5 %
0.9 %
7.4 %
16,055
6,306
61%
0.00%
1.1
166.0
-3.5 %
7.8 %
32.3 %
36,231
18,726
48%
0.96%
1.3
Selvaag Bolig
28.8
1.1 %
22.6 %
43.3 %
5,243
2,862
45%
4.17%
1.2
Storm Real Estate
11.0
0.0 %
-0.9 %
-12.0 %
266
224
16%
14.55%
3.5
Veidekke
89.5
3.2 %
5.3 %
21.4 %
14,338
12,682
12%
3.91%
5.0
Finland
EUR
%
%
%
SEKm
SEKm
%
%
x
3.0
-2.8 %
-0.6 %
17.6 %
29,936
16,455
45%
4.94%
1.4
4.1
-4.5 %
4.3
Last
Last week
Last month
YTD
8.2
4.7 %
7.3 %
9.8 %
Citycon
8.6
1.0 %
-0.3 %
-4.5 %
Sponda
-1.0 %
14.1 %
24,038
10,687
56%
4.60%
0.9
SEK/EUR
9.1
-0.6 %
-5.1 %
-3.9 %
Technopolis
-4.0 %
6.7 %
15.4 %
11,569
4,157
64%
3.51%
0.9
NOK/SEK
94.3
1.4 %
4.4 %
-1.8 %
Denmark
DKK
%
%
%
SEKm
SEKm
%
%
x
Jeudan
673.0
-0.3 %
0.0 %
21.9 %
23,974
9,144
62%
0.00%
1.6
3.4 %
30.8 %
27.1 %
3,765
40
n.a.
n.a.
Nordicom
2.7
Note: For comparison reasons, we have chosen to have a single currency on Market Cap and EV
n.a.
Source: Reuters
* Based on latest company reports and current market capitalization figures
Equity chart - Norway
Equity chart - Sweden
180
200
170
180
160
160
150
140
140
130
120
120
110
100
100
Source: Reuters
80
90
60
Mar-13
Jun-13
Sep-13
OSEBX
Dec-13
PREX Norway
Mar-14
Jun-14
Norwegian Property
Sep-14
Dec-14
Mar-15
80
Mar-13
Olav Thon
Jun-13
Sep-13
OMX
Dec-13
PREX Sweden
Mar-14
Hufvudstaden
Jun-14
Castellum
Sep-14
Dec-14
Mar-15
Wallenstam
Source: Reuters
– Page 1 –
Interest rate term structure – Nordic
Sight deposit rates - Nordic
2.0 %
2.5 %
2.0 %
1.5 %
1.5 %
1.0 %
1.0 %
0.5 %
0.5 %
0.0 %
3m
1Y swap
2Y swap
3Y swap
4Y swap
5Y swap
7Y swap
0.0 %
2010
10Y swap
2011
2012
2013
2014
2015
-0.5 %
-0.5 %
Norway
Sweden
Denmark
Norway
Euro
Sweden
Denmark
Euro
Source: Reuters
Short term interest rates - Nordic
Long term interest rates (5y swaps) - Nordic
3.5 %
4.5 %
3.0 %
4.0 %
2.5 %
3.5 %
2.0 %
3.0 %
1.5 %
2.5 %
1.0 %
2.0 %
0.5 %
1.5 %
1.0 %
0.0 %
Mar-10
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
-0.5 %
0.5 %
-1.0 %
0.0 %
Mar-10
NIBOR
STIBOR
CIBOR
Mar-11
Mar-12
Norway
EURIBOR
Mar-13
Sweden
Denmark
Mar-14
Mar-15
Euro
Source: Reuters
Yield gap – Oslo office
Yield gap – Stockholm office
8.0 %
7.5 %
7.0 %
6.5 %
6.0 %
5.5 %
5.0 %
4.5 %
4.0 %
3.5 %
3.0 %
2.5 %
2.0 %
1.5 %
1.0 %
Mar-05
Mar-06
Mar-07
Mar-08
Mar-09
Mar-10
10Y swap
Oslo office yields
Mar-11
Mar-12
Mar-13
Mar-14
Mar-15
0.5 %
Mar-08
Mar-09
Mar-10
Mar-11
10Y swap
Mar-12
Mar-13
Mar-14
Mar-15
Stockholm office yields
Source: Pangea Property Research
Recent transactions – Norway and Sweden
Norway
Seller
Buyer
Type
Helsfyr Panorama, Helsfyr
Mar-15
Date
Catella Real Estate AG
Bryn Eiendom
Office
Rolf Olsens vei 30-32, Lillestrøm
Mar-15
Lambertsson Norge
Ragde Eiendom / Ola Heggset
Industrial
Sanitetsveien 1 in Laghaugmoen Næringspark
Mar-15
Anthon B Nilsen(60 %)/KGJ Real Estate(40 %)
Syndicate
Combination
Lagårdsveien 78-80, Stavanger
Mar-15
Local investor
Castelar Investment Mgmt. et al.
Office
Commercial section of Ullevål Stadium, Oslo
Feb-15
DNB Livsforsikring
Oslo Pensjonsforsikring
Office, retail, hotel
75 % of Bryggerikvartalet, Lillehammer
Feb-15
Smedvig Eiendom
Consortium
Storgata 10 A/B, Oslo
Feb-15
Haraldsen Eiendom
Eiendomsspar
Property
Estimated value (NOKm)
n.a.
86
Size (Sqm)
Adviser
18,000
CBRE Atrium (sell-side)
5,000
n.a.
n.a.
9,200
n.a.
~250
19,000
n.a.
~1,100
58,000
Union (sell-side)
Retail
300
30,000
DNB Næringsmegling (sell-side)
Retail
n.a.
8,600
n.a.
Sweden
Property
Date
Estimated value (SEKm)
Size (Sqm)
Adviser
Seller
Buyer
Type
737 apartments (13 properties), Gävle
Mar-15
IHF Bostad
Gävlegårdarna
Residential
468
53,500
NAI Svefa (sell-side)
Hilton 7 (part of Järva 4:11), Solna
Mar-15
Peab
Vasakronan
Undeveloped land, office building rights
58
16,000
n.a.
Högvakten 6, Malmö
Mar-15
Wihlborgs
Cityfastigheter
Office
91
3,600
n.a.
Rölunda 1:6, Bergklacken 5 & 6, Stockholm
Mar-15
Altira
Stendörren
Public sector, industrial
n.a.
23,200
n.a.
Nova Lund (Företaget 7, 13, 14), Lund
Mar-15
TIAA Henderson Real Estate
Unibail-Rodamco
Retail
1,635
25,900
Catella (sell-side), PwC (buy-side)
Brynäs 18:6 (Philipssontomten), Gävle
Mar-15
CA Fastigheter
HSB
Undeveloped land, residential building rights
n.a.
20,000
Catella (sell-side)
Päronet 8, Solna
Mar-15
Humlegården
Union Investment Real Estate
Office
650
21,400
n.a.
Source: Pangea Property Research
Contact details
STOCKHOLM
Pangea Property Partners KB
Visiting: Norrlandsgatan 15, 7th floor
Postal: Box 7740, 103 95 Stockholm
Tel +46 8 545 25 780
www.pangeapartners.se
OSLO
Pangea Property Partners AS
Tjuvholmen Allé 3-5, 8th floor
N-0250 Oslo
Tel +47 21 95 80 70
www.pangeapartners.no
– Page 2 –
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