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Valad Europe appointed manager on €325m German portfolio

The firm’s appointment on the Bridge portfolio of offices brings the total value of assets in Germany on its books to €900m.

London-based real estate investment management firm Valad Europe has been appointed to asset manage a portfolio of six offices in Germany.

The firm announced it had won the mandate from the Bridge property companies to asset manage the portfolio with a view to “maximize sustainable value”.

The value of the assets, located in Berlin, Frankfurt, Eschbom, Wiesbaden, Sulzbach and Dusseldorf, is €325 million, meaning it now manages approximately €900 million of assets, 730 tenants and 10.4 million square feet of space in Germany.

Andreas Hardt, Valad Europe’s head of Germany, said the firm had a “clear remit” to increase the portfolio’s weighted average lease term, reposition tenants, introduce new tenants and “dispose of assets at the optimum time”.

The firm’s chief operating officer, Christian Bearman said that the appointment was further recognition that it is able to manage complex workouts. Since the global financial crisis, Valad Europe has been appointed on over €1.5 billion of bank workout and CMBS mandates.

Among them were 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.

In total, Valad Europe is responsible for about €4.5 billion of investment and development assets in Europe on behalf of 22 mandates. The firm employs 215 staff across 22 offices in the region