Company Profile

October 2011

PRIVATE & CONFIDENTIAL www.dtz.com/ro

About DTZ

Did you know... Worldwide presence in 140 cities across 42 countries The first real estate adviser to be listed on the London Stock Exchange in 1987 The first to establish a permanent operation in the Middle East in 1975 The leading real estate adviser in China A team of over 10,000 property professionals

About DTZ

The DTZ global team is united by a single focus to deliver our clients exceptional service, rooted in a deep understanding of their needs and a commitment to their longterm success. We call this Bringing you the Power of One - offering deep knowledge of local markets and the best of our global expertise.

World map showing DTZ offices

We serve our clients across the breadth of their real estate needs. We are always frank in our advice, taking a stand in our clients interests, and we are relentless in delivering value for our clients as we move from advice to action.

Mission & Values

DTZs Mission
To be the best firm in the real estate services industry, for our clients, our staff and our shareholders - where we choose to compete. DTZs Values We put our clients interests first We are one firm

We deliver exceptional service to our clients and to each other - always

We hire, develop, and reward top performers

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DTZ Echinox. About the Company

DTZ Echinox is a real estate advisory company, affiliated to the global DTZ network, that provides a full range of services to investors, occupiers and owners across all sectors of the real estate market;
In November 2002, after 9 years of successful operations on the Romanian real estate market, Echinox Consulting entered a partnership agreement with the multinational company DTZ, one of the leading global real estate services companies. Therefore Echinox Consulting became the local DTZ representative office, operating under the trade name of DTZ Echinox;

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DTZ Echinox. Facts and Figures

DTZ Echinox has been the only Romanian real estate consultant to close 2009 and 2010 with profit and one of the first 3 real estate consulting companies according to the turnover figure;
In 2010 DTZ Echinox triples the size of the property management portfolio by winning Shopping City Sibiu and Suceava; DTZ Echinox mediated the 63 million transaction of European Retail Park, Braila between Belrom Real Estate and the South-African investment fund New Europe Property Investments; DTZ Echinox mediated the lease of a 11,700 sq m office building, between Sanador and Castrum Corporation; the transaction is significant due to its size, considered to be the biggest since the crisis start;
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Management Team

Mihnea Serbanescu General Manager

Tim Wilkinson Partner

Oana Iliescu Managing Director

Razvan Sin Retail Dept.

Mihaela Pana Residential Dept.

Rodica Tarcavu Industrial Dept.

Madalina Cojocaru Office Dept.

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Mihaela Cnobloch Investment Dept.

Cristian Ustinescu Investment Dept.

Bogdan Sergentu Valuation Dept.

Evelina Necula Marketing Dept.

Services Provided

Landlord and Tenant Representation

Retail Office Industrial Residential Land Investment

Property Management
Facility Management Valuations and Consultancy Research Market overviews Project Management Property/ Project marketing

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Office Agency

MAJOR DEALS:
Sanador/ 11,700 sq m Bucharest; Avon/ 1,200 sq m Bucharest; Adobe/ 6,146 sq m Bucharest; E-On/ 2,600 sq m Bucharest;

ING InsuranceCentralEurope/ 4,000 sq m - Cluj-Napoca;

E-MAG/ 4,000 sq m Bucharest; Electronic Arts 3,600 sq m - Bucharest; Softwin/ 3,000 sq m - Bucharest Enel Energy/1,500 sq m - Bucharest;

TENANT REPRESENTATION:
Vodafone, PTC, Electronic Arts, Avon, Ixia, BMS, RBS
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ING Insurances 4000 sq m office lease at Amera Tower, Cluj

Background

DTZ Echinox has mediated the lease of 4,000 sq m in Amera Tower building, in Cluj-Napoca, to ING Insurance Central Europe. Starting July 2010, the refurbished former industrial building developed by Amera Grup accommodates ING Insurance Central Europes regional Shared Services Centre. The new offices in Cluj Napoca are the present workplace for employees servicing the ING Insurance business units in Czech Republic, Slovak Republic, Hungary, Poland, Romania, Greece and Spain, hosting the insurance back office operations, finance & accounting and IT.

The international expertise and professional approach of DTZ have been key in why we chose to collaborate with them. The DTZ representatives proved not only professionalism, but also flexibility and a good time management, succeeding in offering us the best possible business opportunities and recommending us good options for our new office in Cluj-Napoca.

Just like ING proves a special interest for the customer and always places its clients in the center of its activities, we benefited of personalized attention from DTZs side, enjoying an excellent business experience and building a unique relationship.
Jolanda van de Kamer, Chief Operating Officer, ING Insurance Central Europe
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Project & Building Consultancy

Office Fit Out & Tenant Coordination

DTZs team of Project Managers provides the complete range of fit out and tenant coordination services including: Space planning and interior design

Budget preparation and cost control

Contract preparation and tendering Supervision and management of works on site Project handover and coordination of facilities and property management

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Retail Consultancy and Brokerage

DTZs retail team in Romania helps developers, retailers, investors or owners of retail facilities to capitalise on the opportunities offered by the local retail market and provide consultancy from development of a strategy through to its implementation. Our clients include: Atrium Centers, Plaza Centers, Immoeast, RBS (Tenant Representation), Belrom, Avrig 35, Lotus Oradea, Argo Capital; K & S Developments; Real4You. Relevant track record: 92% Occupancy (signed contracts) for Atrium Center Arad (opened on March 23rd 2010); 35,000 sq m GLA leased in non exclusive projects throughout 2009. 30,000 sq m GLA leased in 2010.
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Retail Agency (Brokerage)

DTZ advised landlord Argo Capital Property for signing leases with New Yorker, C&A, Douglas, Palla Boutique, Pada Mure and home decoration retailer Proges in their shopping schemes Shopping City Suceava and Shopping City Sibiu. (2008-2010) DTZ advised developer Avrig 35 for signing leases with fashion brands Sprider Stores, Takko, Adidas for Iris Shopping Center Bucharest and Iris Shopping Center Pitesti. (2008-2009) DTZ leased over 25,000 sq m GLA within the retail parks developed by Belrom Real Estate to tenants such as Staer, Proges, Dego Playground. (2008) DTZ has been involved as advisers to Anchor Group for securing H&M at Plaza Romania and Bucuresti Mall. (2010)

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Retail Agency. Exclusive Instructions

DTZ Echinox is the exclusive leasing agent of Electroputere Parc, a 55,000 sq m (GLA) shopping center developed by BelRom Real Estate in Craiova;
The project comprises over 120 shops, including Auchan hypermarket and major anchors such as Decathlon, Kiabi, Leroy Merlin, Norauto etc.

DTZ Echinox and Colliers International have been appointed by Real 4You Immobilien as the coexclusive leasing agents of their commercial projects Mega Mall, developed in Bucharest, Targu Mures, Satu Mare and Focsani.

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Retail Agency. Exclusive Instructions

Project: CASA RADIO BUCHAREST Developer: Plaza Centers GLA: 100.000 sq m Parking Units: 3.500 No. of shops: 250 Project: TIMISOARA PLAZA Developer: Plaza Centers GLA: 40.000 sq m Parking Units: 1.800 No. of shops: 120 Project: ELECTROPUTERE PARC Developer: BelRom Real Estate GLA: 55,000 sq m Parking Units: 1.700 No. of shops: 140

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Retail Agency. Co-Exclusive Instructions

Project: MEGA MALL BUCHAREST Developer: Real4You GLA: 70.000 sq m Parking Units: 4.430 Opening: 2014 Project: MEGA MALL SATU MARE Developer: Real4You GLA: 31,640 sq m Parking Units: 970 Opening: 2012 Project: MEGA MALL TARGU MURES Developer: Real4You GLA: 30,800 sq m Parking Units: 1000 Opening: 2012

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Retail Agency. Co-Exclusive Instructions

Project: MEGA MALL FOCSANI Developer: Real4You GLA: 30,400 sq m Parking Units: 930 Opening: 2012

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Industrial Agency

Year

Total area leased by DTZ (sq m)

Major deals

2005 2006
2007 2008 2009 2010
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34,000 45,000
80,000 70,000 15,000 1000

FM Logistic, Macromex
KLG Europe, Interbrands, Lekkerland Carrefour, E van Wijk Waldmessner, DHL Delamode Lagermax, UPS Cerva, Key Logistic Center

Industrial Agency. Exclusive Projects

Europolis Park Bucharest Land plot: 80 ha Project: 380.000 sq m Already built: 210.000 sq m Units starting from 2,200 sq m Tenants: Carrefour, FM Logistic, Lekkerland, Interbrands Available space: 20,000 sq m

Cefin Logistics Park Arad

Land plot: 9,4 ha Project: 44.000 sq m Completed: 2008 Units starting from 2.700 sq m Available space: 40,000 sq m
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Residential Agency

DTZ provides a broad range of specialist services around the complex area of high residential sales and rentals.
The professional advisory team works closely with its clients, ensuring complete property solutions for property investors, owners and tenants. DTZs professional advisory services cover: Residential sales Client representation Residential rentals Landlord and Tenant Representation

Rent reviews and lease renewals

Due diligence Lease advice

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Investment Services

DTZs investment consultancy team in Romania provides advice for clients on numerous investment transactions on the local and neighbouring markets.
The teams investment services include: Investment transactions

Asset management services

Development consultancy Corporate finance

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Investment Services
Why choose DTZ Investment?
We have an expert understanding of investment needs We work as a dedicated, coordinated team

DTZs clients include:

GE Real Estate, Heitman, Europolis, Chayton Capital, Cefin etc.

We create and develop sophisticated solutions providing real estate and financing expertise
We provide strategic expertise about new markets and products

DTZ acted as consultant for the first investment transactions in Romania for each sector of the real estate market, including: The first office investment transaction: Europe House, 2001 The first industrial investment transaction: Cefin Logistic Park, 2004

We provide innovative solutions for capital The first retail investment transaction: increase Macromall, 2006
We manage investment capital Global analysis, based on knowledge and experience of the local market In 2007 our team finalised two transactions totalling 350m related to a joint development with GE Real Estate, followed by its post-development acquisition by Heitman.

Identification of key investors

A strong track record
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INVESTMENT. Track Record

EUROPEAN RETAIL PARK BRAILA Yield: 9.5% Location: Size: Type: Anchors: Braila 53.000 sq m GLA Retail Park Carrefour, Bricostore, Staer Representation: BELROM 63 million Euro

Vendor: Transaction Value:

DTZ mediated the deal between the South African Fund NEPI (New Europe Property Investments) and Belrom for the 63 million acquisition of European Retail Park, Braila. This has been the largest deal on the market in 2009.
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INVESTMENT. Exclusive Instructions

AVIVA INVESTORS
DTZ is the exclusive adviser to Aviva Investors on the first Romanian property fund. The fund will focus primarily on the acquisition of interests in projects that already generate revenues, excluding the housing sector.

DTZ will advise Aviva on the fund strategy, profile, set-up and once the fund is established we will provide strategic investment advisory services, investment agency and professional services (valuation, due diligence, feasibility & market studies) for acquisitions. Further on, we will act as valuers, letting agents and Asset & Property Managers.
Aviva Investors pioneering initiative reflects a clear step forward in the evolution of the market and we are proud to be an important part of it.

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Land Consultancy and Brokerage

DTZs land department in Romania provides clients with consultancy and brokerage services for land acquisition and sales.
The team responds to one of the first questions raised by any developer or investor: what is the best location for my future project? We specialise in identifying the best land options at the right price, in the most relevant location, with everything being delivered after a comprehensive land assessment (in terms of ownership, land registration and utilities network documentation).

During more than six years on the Romanian market, DTZs land department has cooperated with numerous clients, supporting them in their need to develop different residential, office and industrial projects.
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Land Consultancy and Brokerage

Our clients include:

Grupo Herce (Viva City Project in Cluj-Napoca), Gebruder Weiss (GW Logistic Centre), Helios Phoenix, Ruukki, GE Real Estate Fabian, AIG Lincoln Relevant track record: Consultancy for Grupo Herce in the acquisition of land totalling 30,000 sq m Consultancy for Fabian in the acquisition of a strategically positioned plot, and support in the identification of a partner for the development of Lake View Offices
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Valuation & Consulting

Starting 2005, DTZ Echinox provides valuation, consultancy and due diligence advice to numerous international clients, having valued large portfolios in the Romanian market.
DTZ Echinox undertakes valuations for a variety of purposes including financing, taxation, accounting, mergers and acquisitions, sale and purchase. Valuations totaling over 1.5 billion throughout Romania, accounting for 8% of the market.

The team gathers:

ANEVAR Members: 6 RICS Members: 3 Support & Research: 3
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Valuation & Consulting

Long term relation with major Clients:

Unicredit, Volksbank, BCR, BRD, OMV-Petrom, AFI, GE. Real estate portfolio valuations for: Adama Holding, Petrom, Avrig 35, Fabian Romania, Impact Developer & Contractor, Tiriac Imobiliare. Appraisals and complex advisory works such as feasibility studies, best use analysis for major developers: BelRom Real Estate (portfolio), Tiriac Imobiliare (portfolio), Martifer Retail & Warehousing (portfolio), Cefin Real Estate (residential), etc.

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Property Management

DTZ Property Management comprises a dedicated team of 20 professionals specializing in both facilities and tenant management services.

The performance of full scope building and facilities management services incorporates The fostering of good landlord and tenant all operational, finance and administration relations is paramount for both owner and matters. occupier.

The underlying objective of the DTZ management team is to build up trust and confidence in the building management as the landlords representative by creating a close relationship with the tenants.

The department acts mainly for property The philosophy of the team is, therefore, investor clients and aims at all times to to take a pro-active management role in ensure the efficiency of day-to-day facilities order to maintain and enhance the management matters. occupational benefits of the property to the tenants and to sustain the long-term value of the investment by the owner.

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Property Management

WHAT WE DELIVER:
Free the owner from the detail work Provide expertise in the technical and operational areas Keep the property attractive and desirable Increase the value of the investment Costs optimization Quality service provisions Tenant relation & coordination Client representation Dealing with lease contracts Dealing with the financial issues Obtaining legal papers and dealing with taxes and insurance for the building Appointing subcontractors for facility management services Coordination of works carried out on the building Transparency and flexibility

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Property Management
Property Management department acts as an integrator and coordinator of the operational and technical services.
Financial & Cost management Marketing Operational

Leasing Legal

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Property Management. Track Record

SHOPPING CITY SIBIU

Owner: ARGO REAL ESTARE GLA: 48,000 sq m Anchors: Carrefour, Real, Baumax, Flanco, Media Galaxy, Mobexpert, KFC, New Yorker, Takko, Deichmann, Humanic. SHOPPING CITY SUCEAVA Owner: ARGO REAL ESTATE GLA: 79,130 sq m Anchors: Carrefour, Baumax, Mobexpert, Media Galaxy, Flanco, New Yorker.

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Property Management. Track Record

AUCHAN & IRIS SHOPPING CENTRE BUCHAREST Owner: Aberdeen Immobilien GLA: 48,000 sq m Anchors: Auchan, Domo, Adidas Outlet, Sprider, Takko, Reno.

BANEASA BUSINESS CENTRE BUCHAREST

Owner: Dinu Patriciu Global Services

GLA: 10,370 sq m Tenants: 12

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Facility Management

What We Do
DTZs professional facility management team offers cost-effective services for clients who want to outsource the operation and maintenance of commercial property. DTZs facility management expertise enable clients to concentrate on their core businesses and our proven track record can be demonstrated by the long relationships with many major multinational banks, hotels, retail, industrial and technology companies in major Europe and world markets. Our expertise covers cost analyses, space planning, productivity initiatives, benchmarking and energy audits. DTZ offers clients valuable time and cost saving benefits in the following key areas:

Administrative management and support services

Property services Quality assurance Advisory services
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Facility Management

Cost-effective services for clients who want to outsource the operation and maintenance of their commercial properties. Why Choose DTZ? Computer Aided Facility Management (CAFM) Technology Helpdesk CAFM helps the facilities management team to provide a responsible fault reporting and resolution service to building occupiers, and to fulfill occupiers requests for routine service. Data can be collated to show which equipment or a part of a building generates the most faults or complains.

The experience of our specialists across the various segments of the facility-management market, combined with a large client and property portfolio, make it possible for us to deliver prompt solutions to any clients requests.

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MARKETING Services

DTZs marketing department provides consultancy for developers in the creation of marketing and communication strategies for real estate projects.
Our role is to generate specific positions, impact images and integrated communication platforms which will support developers commercial strategies and help them to successfully promote their real estate projects. Through its team of specialists, DTZ provides: Brand identity and development: Marketing strategies: Planning and implementation of promotional campaigns: Tactical campaigns and direct marketing PR and BTL activity coordination
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MARKETING Services

OUR STRENGHTS
We are a specialised multi-disciplinary team, with extensive experience of the real estate market Our experience results from our involvement in a multitude of retail and residential projects

We are knowledgeable about the national and regional real estate market
We have a privileged relationship with the best communication and advertising companies We enjoy close mass media relationships We use innovative tactics, personalised to the profile of the target audience We have a competitive spirit!

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MARKETING Services

OUR CLIENTS
RESIDENTIAL COMPOUNDS: Monaco Towers (Marble House); Arena Residential (Red); Lotus Cismigiu (Smart Investment); Gloria Residence (Cristal Properties) INDUSTRIAL PARKS: Cefin Logistics Parks (Cefin & Europolis), NordEst Logistic Park (EFG, Immoeast), Olympian Parks Network (GE Real Estate & Helios-Phoenix) OFFICE BUILDINGS & BUSINESS PARKS: Swan Office Park (Arca & Chayton), Meteo Business City (EFG, Immoeast); Orhideea Tower (Europolis) SHOPPING CENTRES: Iris Shopping Centre (Aberdeen Immobilien), Plaza Centers.
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Why Choose DTZ

DTZ has the most stable and experienced management team, with managers and senior consultants that have spent an average of 7 years with the company;
Lately, the company has been involved in the most representative transactions on two of the most challenging markets: investment and office, with the 63m sale of European Retail Park Braila to NEPI and the lease of the 11,735 sq m office building on Sevastopol St. to Sanador;

DTZ has been awarded the title of Retail Agency of the Year at the Europaproperty CEE Real Estate Awards 2010, in Warsaw
DTZ Echinox won Property Management Firm of the Year and Warehouse Agency of the Year at the Europaproperty SEE Real Estate Awards 2010, in Bucharest

DTZ has been the only international real estate consultant in Romania to close 2009 and 2010 with a profit;

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CONTACT

Company name: DTZ Echinox Consulting Main office address: Floreasca II Business Center 40-44 Banu Antonache Street, 3rd Floor Sector 1, Bucharest, Romania Contact details: Tel: (+40)21-310.3100 Fax: (+40)21-313 90 10/11 http://www.dtz.com/ro
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