Investment case

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Long-term ownership and aligned leadership

Proark is a privately held Danish real estate company, founded in 1987 and shaped by long-term, hands-on ownership. That mindset has helped build a platform designed to perform through cycles – where disciplined capital allocation, risk control, and operational execution matter just as much as headline growth.

To support the next phase, Proark operates with a strengthened leadership setup, including a Co-CEO structure, as well as an experienced CFO and broader management bench with many years of experience across strategy, financing, restructuring, and day-to-day asset operations.

Resilient Nordic hospitality supported by a durable, inflation-linked cash flow base

On a macro level, the Nordic hotel market has benefited from a relatively balanced supply/demand dynamic, supporting resilient occupancy and reducing the risk of structural oversupply compared with more volatile markets.

This aligns with Proark’s strategy, as hospitality is – and will remain – the company’s primary focus in the Nordics. Proark benefits from diversification across assets and operator relationships, spanning both leased structures and owned-and-operated models, with a clear focus on well-established destinations. The group’s long-standing hospitality experience is reflected in proactive, hands-on asset oversight across the hotel portfolio – regardless of operating structure.

Proark’s broader portfolio provides a stable cash flows from a long-dated contractual income base with a WAULT of ~10.1 years and ~91% occupancy across the overall portfolio, providing strong visibility and stability through the cycle. In addition, most leases across the portfolio are partly or fully indexed annually, supporting a solid and inflation-linked cash flow profile alongside the hospitality exposure.

Scalable platform with a clear hospitality tilt

Proark operates as a real estate-focused family office platform with a clear core in hospitality and high street office and retail. We have our own operating capabilities with 35 – 40 dedicated real estate professionals based in Copenhagen.

Our AUM is ~DKK 7bn of which ~DKK 4bn is on our own books. There is a strong Nordic footprint – approximately 60% located in Denmark. Hospitality is a defining pillar, representing ~45% of total GAV, creating a focused strategy while maintaining diversification across property types.

Proark’s business model is built around value creation in the details: active ownership, operational improvement, and disciplined execution across both real estate and hotel operations. The organization is lean but scaled, with 35 – 40 full-time employees covering core functions – enabling close asset-level work on performance, repositioning, and value-add initiatives.

Conservative capital structure and strong risk management

Proark’s credit profile is intentionally conservative. Pro-forma Net LTV is ~49%, reflecting moderate leverage and meaningful resilience. The funding mix is deliberately “Nordic and familiar”: in practice, all Danish assets are financed through local banks, either via bank loans or Danish mortgage structures – widely viewed as stable, transparent, and well-understood forms of secured financing. Proark also maintains long-standing relationships with reputable lenders, including Ringkjøbing Landbobank, Nykredit, SJF, DLR Kredit and SEB.

Refinancing and interest-rate risk are mitigated structurally through a long weighted average debt maturity of ~12 years (2037). Interest-rate management is measured, with around 25% of debt fixed primarily through contractual terms, implying limited reliance on derivatives.
In total, a conservative approach which is further reinforced by clear covenant discipline and a strong liquidity focus, providing meaningful headroom and resilience through the cycle.