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Performance through active asset management

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Berlin - Märkisches Ufer/ Wallstraße

case-study_objekt-berlin

Key facts about the property

  • Location: Märkisches Ufer Berlin
  • Type of use: Office
  • letable area: approx. 11.800 sqm (Gif)
  • letable area: approx. 10.500 sqm BGF
  • Exceptionality: Monument protection

Description
The building near the Märkischen Ufer of Berlin is under monumental protection and was suffering under substantial vacancy at time of assignment. In the context of the evaluation of the property, it became obvious that there was an enormous potential of performance for the landlord besides through the subsequent letting as well as by changing the definition of the area calculation from BGF to Gif.

Performance through active asset management

Situation by assignment in 2008
Occupancy rate: 65% leased out


As asset manager in a leading position, propertyAMI hired out 3.500 sqm within 15 months autonomously and with the support of external real estate agencies. In total, there were 12 new lease contracts and renegotiate supplements finalized through propertyAMI. Our project management team implemented complex fitting works with a worth of 350,000 EURO. Furthermore the definition of the area calculation was changed from BGF to Gif and assert in the existing lease contracts as well as in the new contracts. As a result the net letable area raised about 12%.

Result by project closure  in 2009
Occupancy rate: 95% leased out

 

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