Description Acquisition of multi-family houses from a housing association including several unsold apartments.
Performance through active asset management
(2006/2007) Partly delicate tenancy Occupancy: 80 vacant apartments Substainable lag of reconstrution measures
For the "work-out" propertyAMI established a special office on site in Wiesbaden. Due to the missing transparent information from the due diligence process, the buildings were walked on systematically to understand the circumstances "behind the apartement doors" as well. There was one own person in charege as key acount only for the preparation of the documentation and especially for the care of the tenants. Following the detailed analysis of the potential, several refurbishments were made by the help of a small general contractor at reasonable fixed prices. associated with that, propertyAMI undertook the letting at market prices. The property management was sourced out and controlled through propertyAMI. At the end of the value-added chain the disposal followed in a number of steps to an international real estate fonds and to a local investor.
/ Result by project closure in 2008 Restoration of the "domestic peace" in many occasional instances Systematic workup of the entire residential portfolio Sale in attractive tranches Successful clearance sale of all unsold apartments
