Report: Portfolio
The portfolio report will become part of Placepoint Fusion. The report itself is not finished, but everything it builds on is available today: owned properties, the ownership chain down to each single purpose company, area, geography, building types, transactions and accounts. This page shows where each point is answered.
The report is coming, the foundation is here
The report gathers one company's portfolio in a single document: the properties the company is registered as title holder of, the properties it owns through subsidiaries, the areas, the distribution by municipality, the building types and the registered sales. Until it is ready, you make the round below yourself, tab by tab in the Company panel and map layer by map layer, or let Placepoint AI put it together. It is the same data in all three cases; the difference is who writes the document.
The distinction that matters runs between what the registers know and what only the owner knows. Who owns what, how big it is, when it last changed hands and who occupies the buildings are register facts, and they stand in the console from the first lookup on the organisation number. Book values, rental income, yield, loan terms and internal valuations are not held in any public register and will not be. They sit in the accounting system and in the loan agreements. The report states which information this concerns rather than pretending it has it.
See also: Manage portfolio on placepoint.no.
Direct ownership or single purpose company
A portfolio owner's real holding is rarely what the parent company is listed with itself. In Norwegian commercial property, the norm is that each property sits in its own single purpose company, and that the parent company owns the shares in the SPVs rather than the properties. A manual search on the parent company then comes up empty-handed. The portfolio only emerges when you walk down the ownership chain link by link, and that is the walk the report does for you.
The key figures at the top of the Properties tab tell you which of the two structures you are in. Entra ASA has 388 properties across 100 owning entities and a maximum chain depth of 4: a staircase, where properties sit up to three levels below the top company. Mustad Eiendom AS at Lilleaker has 67 properties across 11 owning entities and a chain depth of 2, that is one level down. Chain depth is the one figure that separates a flat structure from a staircase, and it tells you how many companies you would otherwise have had to look up one by one.
There is a reason for the structure. A share sale does not trigger the 2.5% document duty, and the shares in the SPV change owner without Grunnboken finding out. For a portfolio review, that means the property side and the company side must be read together: the property list says what is owned, and the ownership chain says who actually holds it.
Who this is for
Portfolio managers, asset managers and property managers who need to keep an overview between the quarterly reports. The bank assessing a property company as a borrower and needing the collateral counted up. The adviser valuing or selling a collection of properties rather than one. A due diligence of a whole portfolio follows the same list, just all at once instead of continuously.
The foundation is the same no matter how large the portfolio is: 3.5 million matrikkelenheter, 1.1 million active companies, over 14 million registered owners and rights holders, 5.3 million links between company addresses and properties and 1.5 million links through SPVs. See Placepoint in figures for the full overview.
The checklist
| Track | What you are looking for | Where in Placepoint |
|---|---|---|
| The contents | Number of properties, plot area, use, distribution by municipality | The Properties tab in the Company panel |
| The ownership chain down | Owning entities, chain depth, which property sits where | Ownership tree under the Properties tab |
| The ownership chain up | Shareholders, ultimate owners, conglomerate | The Ownership tab |
| The composition | Building type, year built, energy rating, leasehold status | Building panel, Building age |
| The history | Registered sales, ownership transactions, mergers and demergers | The Transactions tab |
| The financials | Revenue, EBITDA, equity and debt year by year | The Financials tab |
| The tenants | Who occupies the buildings, industry, number of employees | The Tenants tab in the Property panel |
| The neighbourhood | Who else owns around the portfolio, and what is being traded | Ownership and Company Structure, Property prices |
| The follow-up | Work list, your own columns, alerts about new cases | Tags, Datasets, Monitoring |
Map layers are turned on from Map layer in the left-hand menu. See How to use map layers if you have not done it before.
What the company owns
You open the portfolio with the organisation number. Type it in the search field, with or without spaces, and the Results types column shows how many hits each category has. An organisation number gives one hit under Companies and none under the others, so you are there in one keystroke, also when two companies share a name. The Company panel opens with the name and organisation number at the top, and the Properties tab is where the portfolio sits.
The tab has four sub-tabs. Owned properties is the table of matrikkelenheter the company is registered as owner or title holder of, with the columns Property, Use and Plot area. Sorted by plot area, the largest plots come first, and the Use column separates mixed use from office, retail, warehousing and logistics, parking and housing. The composition can therefore be read without opening a single property. Click a row and the Property panel opens on it.
Ownership tree shows the same properties as an expandable tree when they are held through subsidiaries, and that is where the SPV structure becomes readable: which company owns which property, and how far down the chain it sits. Tenants and Historic tenants gather the tenancies across the whole portfolio in one place, rather than one property at a time.
The Property breakdown card next to the key figures groups the portfolio by a chosen field. With By: Ownership form, Mustad Eiendom stands at 100% registered title, while Entra has 95% registered and 5% recorded through a contact role. The difference is worth a look before you start counting: a property without registered title in the company's name is held in a different way from the rest.
The table lists matrikkelenheter, not buildings. A property with several buildings appears as one row, and a sectioned property with one row per section. Premises the company itself rents are not part of the portfolio; they appear under Offices and on the Overview card Rented premises.
The ownership chain below and above
The Ownership tab in the Company panel answers who the portfolio really belongs to. The overview counts shareholders, the total number of shares and the largest holding, and states which year the figures come from: for Mustad Eiendom, three shareholders, 298,248 shares and 33.3% for the largest, as of 2025. The sub-tabs are Ultimate owners, Shareholders, Ownership tree and Conglomerate.
Ultimate owners are the natural persons who ultimately control the company, calculated through the whole chain rather than one level up. That is the level a due diligence or an anti-money laundering check asks for. Shareholders gives the holdings per financial year from the shareholder register, so you can see when a holding changed, and small shareholders are gathered in a separate row. Ownership tree draws the chain upwards towards parent companies, and Conglomerate shows parent, subsidiary and sister companies where the company is part of a group.
The two trees point in opposite directions, and a portfolio needs both. The ownership tree under the Properties tab goes downwards, from the company to the single purpose companies that hold the properties. The ownership tree under Ownership goes upwards, from the company to whoever owns it. If you read only one of them, you are missing either the holding or the counterparty.
The ownership chain can stop at foreign companies where Brønnøysundregistrene (BRREG) lacks depth data. The final link must then be verified against foreign registers or the company's own annual report.
The composition of the portfolio
The number of properties says little on its own. What decides what the portfolio demands in capital and follow-up is what kind of buildings it consists of, how old they are, where they lie and how the plots are held. The Property tab in the Property panel gives the plot area, the parcels and the hierarchy between the matrikkelenheter for each individual property, and the Building panel gives the year built, building status and energy certificate per building. Across a whole portfolio, the map is faster than the table.
| Map layer | Answers |
|---|---|
| Building age | Year built as a colour scale, so the oldest and newest parts of the portfolio stand out |
| Commercial buildings, Apartment building | What is commercial and what is housing, including on the neighbouring plots |
| Enova Energy Labelling | Energy rating and heating rating per building |
| Environmental Certifications | BREEAM, Svanemerket and LEED where the buildings are certified |
| EU-Taxonomy-Buildings | How the buildings stand against the criteria in the EU taxonomy |
| Leasehold land, Lessees | Which plots are leasehold rather than owned |
Geography is the other half. A portfolio that lies together is also a neighbourhood, and Ownership and Company Structure colours the surrounding properties by the type of business the title holder runs: letting of own property, development and sale, property management, housing cooperatives, public administration. That decides who is a possible counterparty in a transformation and who is not. A portfolio spread across many municipalities is read the other way round: the distribution by municipality on the Overview card tells you how many case archives and planning registers you need to follow.
The year built in matrikkelen is the year the building was erected, not the year it was last refurbished. A high building age therefore says nothing about technical condition on its own; the energy certificate and a condition report do.
The transaction history
The Transactions tab in the Company panel gathers the purchases and sales the company has been party to. For Mustad Eiendom there are 249 property transactions with a total of NOK 1.5 billion and the latest registration in December 2022, and 91% of them are Free Sale. The list gives date, matrikkel number, type and sale price per row. The sub-tabs separate property transactions from ownership transactions and investments, and that is precisely the difference between selling the building and selling the company that owns it.
For a portfolio, the dates are as interesting as the amounts. A holding where the latest registered acquisition lies 20 years back is something other than one built up over the past five years, both for tax purposes and in what documentation you can expect. Mergers and demergers appear as a separate type without a price, and a run of them over a short period is usually a reorganisation of the SPV structure rather than buying and selling.
| Map layer | Answers |
|---|---|
| Property prices | Average sale price per grunnkrets (basic statistical unit) around the portfolio |
| Number of transactions (property) | How much is actually traded in the area |
| Latest sales (units of use) | The most recent individual sales, with price and date |
| Real Estate Transactions in the Media | What comparable properties are reported to have sold for |
The price layers are the reference against your own valuation: if the neighbourhood has moved since the last round, so has the portfolio. Analysis gives the same comparison as a table and chart for a defined area.
Only Free Sale gives a price indication. Inheritance, Estate settlement, Sectioning, mergers and demergers are transfers without a market price, and a share sale of an owning entity does not appear in Grunnboken at all. You find that under ownership transactions and in the Ownership tab.
The financials behind
The Financials tab in the Company panel gives the accounts year by year, for each individual company in the chain. At the top is the Accounts card with revenue and EBIT per financial year, and Select values controls which series the graph draws. The menu has eight: Revenue, EBITDA, EBIT, EBT, Net income, Total assets, Equity and Liabilities. Below are the key figures for the latest year with the change from the year before, and at the bottom are the sub-tabs Employees, Results and Annual report, where Annual report links to the submitted annual accounts. The amounts in the graph are in thousands of kroner.
For a portfolio owner there are three readings that matter. Total assets against equity gives the relationship between book value and equity in each owning entity, and a single purpose company with negative equity is a finding in itself. The development in revenue over the years tells you whether the rental income in that company is stable or falling. A shell company with no employees and no revenue in the middle of the chain is usually just a holding link, not an operating company.
What the tab does not give is the loan. Loan-to-value, interest rate fixing and covenants are in the loan agreement, not in the annual accounts, and NOI and cash flow per property are calculated in the owner's own system. The registers give the level of the company, not of the building.
The Financials tab appears when we have accounting figures for the company. A newly established SPV or a company that has not filed annual accounts stands without figures, and series the company lacks figures for are not drawn even if you turn them on.
The tenant base in the portfolio
The income side of a portfolio is the tenants, and they have their own report. Report: Tenants gathers them with industry, number of employees, area distribution, concentration and financial strength per company, for one property or for the whole holding. Here it is enough to know where they stand today.
The Tenants and Historic tenants sub-tabs under the Properties tab give the tenancies for the whole portfolio in one place. For a single property, it is the Tenants tab in the Property panel that applies, with company name, organisation number, number of employees and industry per tenant, and average tenancy duration against the historic average. The fields in detail are on Units and tenants. Click a tenant and the Company panel opens with the accounts behind it.
Average tenancy duration is an unweighted average and not the same as WAULT, which weights by rental income. It is still the fastest signal of whether a building is stably let, and a long tenancy with the anchor tenant combined with a short average tells you there are many small contracts underneath.
The tenant list is based on registered business addresses and picks up companies, rarely private residential tenants. Rent levels, terms, options and vacancy are not held in any public register; they come from your own contracts.
Keeping the portfolio over time
A portfolio review is rarely a one-off job. Tags is the list that holds the work between sessions: coloured labels you attach to properties from Add tag at the top of the Property panel, and that are gathered in the Tags panel in the left-hand menu. A property can have several tags, so the same building can sit in both "Vestkorridoren" and "Q3 review". Show table at the bottom of the panel opens the whole selection as a table.
Datasets brings in what the registers do not have. Upload your own list of book values, rent levels or maintenance plan, link the rows to matrikkelen, and the portfolio stands in the map with your own columns next to the register information. Filter does the opposite and finds properties in matrikkelen that match your criteria, for example when a contract expires and the holding needs topping up. Both selections can be exported to Excel.
Projects is the workspace around a portfolio, with the properties in Properties, the geography in Areas and the follow-up as a chronological log in Activities. Monitoring runs the municipalities' postal lists daily against the properties and areas in a project and sends the hits by email the next morning. Until the alerts are in place, Government cases is the manual lookup, per property or for the surrounding neighbourhood.
The report itself
The report is a statement of holdings, not an analysis. It counts up what the company owns, draws the chain it is owned through, and states the source and date for each item, so the figures can be reused in a board report or a loan meeting without anyone having to look them up again.
| Part | Content |
|---|---|
| Summary | Number of properties, total plot area, distribution by municipality and number of owning entities |
| Property list | One row per matrikkelenhet: matrikkel number, address, municipality, use, plot area and which company owns it |
| Ownership chain | From ultimate owners down to each owning entity, with chain depth and flags for deleted companies |
| Composition | Building type, year built and energy rating as a distribution rather than a list |
| Transactions | Registered sales and ownership transactions with date, type and price where it is public |
| Financials | Revenue, net result, equity and debt per owning entity, with the latest available financial year |
| Map | The whole portfolio in one map, with the main clusters marked |
| Appendix | Source and date per item, with a link to the tab or map layer it came from |
| Not covered | Book values, rental income, yield, loan terms and internal valuations |
The appendix is the point of generating the report from the registers: every figure points back to the tab or map layer it came from, with the date the information was retrieved. The last line belongs just as much. A portfolio report that does not say what it lacks is read as if it has everything, and that reading is the one that ends in a wrong decision.
Create the report today with Placepoint AI
Placepoint AI has access to the same sources as the tabs and map layers above, and writes the document from a single prompt. Several ready-made examples, including a full portfolio overview with the ownership structure from the ultimate owner down to the single purpose companies, are on Examples and tips. The prompt does not need to be longer than this:
Create a portfolio report for organisation number [organisation number]. Include all properties
the company owns directly and through subsidiaries, with matrikkel number, address,
municipality, use and plot area. Draw the ownership chain from the ultimate owners down to each
owning entity, and flag companies that have been deleted or have negative equity.
Show the composition by building type and year built, the transactions with date and
type, the tenants per building, and the accounting figures per owning entity. Attach a
map of the main cluster, and state clearly what the registers do not cover.
If the answer is going into your own template, ask for a table instead of a PDF, one row per property: matrikkel number, address, municipality, use, plot area, owning entity and last transaction date. The standard instructions per industry on the same page set the priority once, so you do not have to repeat it in every prompt.
If you are in the map, the Agent does the short lookup without you switching tools: "Which properties does the company behind this property own, and where are they?" gives the list as text with map links, and the map moves to where the properties are.
Related surfaces
- Company panel - the tabs the report reads, one company at a time.
- Manage and monitor a portfolio - the same round gone through on one specific portfolio.
- Report: Ownership structure and title - the ownership chain alone, in depth.
- Report: Tenants - the tenant base in the same portfolio.
- Report: Due diligence - when the portfolio is to be bought or sold.
- Filter - selections in matrikkelen when the holding needs topping up.
- Datasets - your own columns next to the register information.
Data sources
- Brønnøysundregistrene (BRREG) (companies, roles, ownership, accounts and tenants) and the shareholder register at Skatteetaten.
- Matrikkelen and Grunnboken via Kartverket (properties, title and registered sales).
- Geodata AS (building and business map layers).
- Enova SF (energy certificates).
- Building Research Establishment (BRE) (BREEAM certifications).
- Municipal postal lists and planning registers, with coverage in Coverage Map Case Access.