ARCADIA PORTFOLIO, GERMANY
In September 2011, Rynda was appointed by a special service provider to manage and dispose of a portfolio of 28 properties once asset management plans had been executed.
This portfolio of 28 assets comprises tertiary retail and residential assets located throughout Germany, with many properties in or around smaller regional towns. The portfolio consisted of 96 tenants and 127 tenancies.
Key management areas:
- Management of due diligence process
- Re-gearing of existing tenants and letting of vacant spaces
- Execution of capital expenditure
- Preparation for the disposal of assets
- Manage agents and commercial negotiations
- Implementation of sales contracts on an asset-by-asset basis
- Disposal of 28 assets within an agreed time frame
- Successful re-gears of leases for around 17,000 square metres on a 13-year term
- Re-gear of over 25 tenants and approximately 30,000 square metres in five years
- New lettings to seven tenants and about 5,000 square metres in five years