Fiduciary management and transfer of a residential portfolio to a co-operative
2019–2023 · North Rhine-Westphalia · completed
Teaser
A residential portfolio was to be transferred to new ownership on a permanently secured basis. THI took on the fiduciary management of the owner company, ran a tender procedure among housing companies and coordinated the sale to a regional co-operative – with a social charter as the basis of the purchase agreement.
Background
Background
A real estate company belonging to an institutional asset manager held a portfolio of around 20 flats in four apartment buildings. The portfolio was to be transferred to new ownership; the central concern was to secure the tenant community, which had grown over decades, on a permanent basis.
THI’s role
THI’s role
From 2019 THI provided both managing directors of the company on a fiduciary basis, first digitised the portfolio management and then ran a transaction-preparatory fiduciary procedure involving several housing companies. The contract was awarded to a regional housing co-operative with the most economical solution. THI negotiated and completed the notarised property purchase agreement with a social charter as the express basis of the transaction – including integration of the portfolio into the co-operative and contractual safeguards in favour of the tenants.
Result
Result
The tenancies are permanently secured under co-operative ownership; as members, the tenants hold a share in their own landlord. After completion THI wound up the remaining company, prepared the closing accounts and arranged the archiving of the records, and handed over the administration in 2023. The trustor subsequently appointed THI again for a further property.
Direct contact
Dr Joël B. Münch
Jeannette Döhler
Response within one business day.