Transaction-preparatory fiduciary procedure “GOEBEN 10”, Cologne
2022 · Cologne · completed · transaction volume EUR 8.6 million · follow-up mandate
Teaser
A vacant office building in a central location in Cologne was to be sold free from outside influence and with reliable documentation. THI designed and ran a digital tender procedure modelled on public procurement principles – from the property’s own procedure platform to the transaction report.
Background
Background An institutional asset manager wished to sell a vacant, multi-storey office and residential building with around 2,600 sqm of usable space in a central location in Cologne. What mattered was a transaction decision free from outside influence, transparent and documented in a legally reliable manner. THI had already acted for the trustor on a fiduciary basis and was appointed again after the successful completion of the previous mandate.
THI’s role
THI’s role
THI designed and ran the fiduciary procedure as a tender procedure modelled on public procurement principles: a digital data room and digital exposé, a dedicated online platform with an access-protected bidder area, identification of all bidders including anti-money laundering checks and proof of financing, structured evaluation of the offers and a negotiation procedure following a documented guideline – the transaction decision remained entirely with the trustor.
Result
Result The purchase agreement was notarised and completed; the procedure ended with a full transaction report to the trustor. Transaction volume: EUR 8.6 million.
Direct contact
Dr Joël B. Münch
Jeannette Döhler
Response within one business day.