Our latest mandate was a big success. A private equity/hedge fund Investor was seeking to exit his German real estate investments.
The assets were undermanaged, the external asset manager, as well as the heavily shrunken internal team, was unmotivated and wrong incentivized.
Boris Hardi Private Equity Real Estate Consulting’s (BHPERE) task was to wind down the whole operation and to sell all tail assets (19 assets, approx. 160 Mio Euros value at the start).
- extended leases,
- changed the sales set up,
- rearranged the asset composition and single assets and
- sold to a) tenants, b) local investors, c) international investors.
Partly single sales, groups of assets and a small portfolio. All assets were in the B/C/D range in terms of location and overall condition. Lastly, BHPERE achieved to sell all assets with a very limited reps and warranties package so that the GP can pay back his LPs in time.