10 Properties Sold for an Estimated €55 Million
In 2014, CR Investment Management sold 10 properties from its Sanchez portfolio. The properties total approximately 65,000 square metres of rental space and were sold to a number of purchasers for about 55 million euros.
The properties concerned are located all over Germany and vary in many ways – for example, in terms of leases, part ownerships, and fire safety. CR Investment Management’s broad-based network enabled them to find buyers for each of these properties between June and September 2014, ranging from local user-occupiers to international institutional investors.
The Sanchez portfolio originally contained 107 properties, with secured loans totalling over 1.1 billion euros. The funding was restructured extensively in June 2011 when loan servicer Hatfield Philips hired CR Investment Management to handle the necessary asset and transaction management. Since then, CR Investment Management has sold the properties for an average of 10 percent over current market values and reduced the portfolio to fewer than 20 properties. All legal advice has been provided by Görg.
Drooms’ high-security virtual data room was selected to serve as the platform for handling various sales. The intuitive user interface and high-speed, real-time document display feature meant everyone involved could complete their tasks quickly, easily, and conveniently.
Various other tools and services, such as the Q&A management platform for a structured question-and-answer process, detailed rights management at the group and document level, and support from a dedicated project manager ensured a smooth process from beginning to end.