BERLIN—Valad Europe, a leading diversified real estate investment manager, has been appointed by the Bridge property companies, to asset manage the Bridge Portfolio of six office properties located across Germany.
Valad Europe will implement a focused strategy to maximize sustainable value in the portfolio and dispose of assets at the optimum time. This will include detailed asset-by-asset business plans aimed at protecting and increasing rental income, reducing running costs, targeted asset management initiatives in order to build sustainable value and managing an orderly disposal program.
“We have been appointed with a clear remit to increase the weighted average lease term, reposition existing tenants and introduce new tenants, as well as maximise value through the disposal of either individual or portfolios of assets,” said Andreas Hardt, Valad Europe’s Head of Germany.
The Bridge Portfolio comprises six office assets including the 48,073 sq m Alt Moabit 91 office in Berlin; the 44,278 sq m Galluspark office in Frankfurt; the 40,223 sq m Alfred-Herrenhausen-Allee 1 office in Eschbom; the 29,740 sq m Abraham-Lincoln-Park 1 office in Wiesbaden; the 17,279 sq m Am Unisys-Park 1 office in Sulzbach; and the 11,953 sq m Kaiserswerther Str. 117 – 119 office in D sseldorf.
Christian Bearman, chief operating officer of Valad Europe, commented: “Our appointment on the Bridge Portfolio is a further endorsement of Valad Europe’s track record in managing complex workouts for banks, noteholders and receivers across Europe. Over recent years we have been appointed on over €1.5 billion of bank workout and CMBS mandates with highlights including two German retail CMBS mandates, the Landmark and Dutch Offices I & II portfolios in the Netherlands, the Gemini CMBS mandate in the UK, the Kefren Properties portfolio in Sweden and the ECREL portfolio across Germany, the Netherlands and the Nordics.”
With a team of 37 in Germany, operating out of offices in Berlin, D sseldorf, Frankfurt, Hamburg and Munich, Valad Europe now manages approximately $1.2 billion (€900M) of assets and 730 tenants, occupying approximately 1.4 million sq m of space in Germany.