Selected reference projects in institutional real estate advisory—transactions, portfolio management, fund structuring, and interim management.
Design and Development of a Digital Platform for Real Estate Debt Advisory
On behalf of a company specializing in real estate debt advisory, STRATON handled the entire design and implementation of a customized digital platform for structuring, managing, and conducting real estate financing tenders—designed to support five languages and intended for international use.
The scope of services included, in particular,
- Requirements Analysis and Design of the Platform's Overall Architecture: Process Modeling of Typical Debt Advisory Workflows, from Client Onboarding to the Closing of a Financing Transaction
- Development of a structured database for lenders: Collection and management of lender profiles for senior debt, junior debt, mezzanine capital, and equity—with filtering by capital type, ticket size, asset class, region, and risk appetite
- Development of detailed investor profiles: Presentation of investment criteria, reference projects, points of contact, and historical terms and conditions for the targeted preselection of relevant investors for each transaction
- Module for recording and organizing real estate investments and project developments: standardized input format for property data, financing requirements, project status, cash flow parameters, and collateral structure
- Design and implementation of a fully digital, multilingual tender management system in five languages (German, English, French, Spanish, Italian): automatic language selection based on the funding source, consistent terminology across all language versions
- Integrated Q&A module: structured collection, consolidation, and response to inquiries from funding providers during the bidding process—with version control, access control, and a complete audit trail
- Digital Data Room: Role-Based Access Management for Property Documentation, Appraisals, Financing Models, and Due Diligence Documents—with Versioned Upload Workflows and Download Logging
- Integrated messaging feature: direct, transaction-based communication between clients, debt advisors, and lenders within the platform, with message history and notifications
- Process Management and Status Tracking: transparent overview of the tender process, receipt of bids, deadline management, and automated reminder functions for all parties involved
- Supporting development, testing, and rollout, as well as creating user documentation and training materials in multiple languages
The result is a fully functional, internationally deployable platform that digitally and efficiently maps the entire debt advisory process—from accepting a mandate, through investor selection and multilingual tendering, to bid evaluation and contract negotiation. The platform significantly reduces the administrative burden in the financing process while simultaneously increasing transparency and professionalism in dealings with international lenders.
Business Acquisition and Capital Restructuring for a Real Estate Project Developer
Interim management of the commercial operations of a medium-sized real estate project developer during a critical phase of a project—from structuring the financing framework and developing an integrated cash flow model to drafting the investor memorandum and successfully raising equity and debt capital.
The scope of services included, in particular,
- Assumption of overall commercial responsibility (interim), including liquidity management, cost control, and ongoing reporting to shareholders and project stakeholders
- Development of an integrated, phase-based cash flow model for the development project: Modeling construction costs, sales proceeds, interest expenses, repayment structure, and return on equity under various scenarios
- Sensitivity and scenario analyses (increase in construction costs, marketing delays, changes in interest rates) to quantify project risks and determine capital requirements
- Preparation of an investment memorandum suitable for banks and investors, including a project description, market and location analysis, financing structure, risk assessment, and exit scenarios
- Design of the Financing Structure: Structuring the optimal mix of senior debt, mezzanine capital, and equity, taking into account project risk, profitability requirements, and banking regulatory frameworks
- Raising Equity Capital: Identifying and approaching suitable co-investors and family offices, coordinating investor meetings, and assisting with the structuring of investments
- Raising Debt Capital: Issuing a request for proposals for project financing in the banking market; managing the banking process, including term sheet negotiations, reviewing loan documentation, and coordinating internal bank approval processes
- Coordination and alignment of all parties involved in the financing process: banks, legal and tax advisors, notaries, appraisers, and insurance companies
- Supporting due diligence processes from the perspective of banks and investors, as well as providing structured responses to questions from the data room
- Development of a project-specific reporting format for shareholders and lenders to transparently present project status, liquidity, and milestones
As a result, the project’s financing structure was successfully finalized: The equity base was strengthened by bringing in a co-investor, and the project financing was secured through bank financing. The cash flow model and the investor memorandum served as the central basis for all discussions with capital providers and played a key role in building trust among banks and investors.
Sale of a residential real estate portfolio comprising nearly 30 apartment buildings in Central Germany
Supporting a private real estate investor through the structured sales process for a residential portfolio consisting of nearly 30 apartment buildings in Central Germany—from establishing a robust database, through valuation and the development of a marketing strategy, to the successful completion of the transaction.
The scope of services included, in particular,
- Structured collection and processing of all property-related data (location, year of construction, floor plans, lease agreements, maintenance history, operating cost statements) to create a transparent and reliable data set for negotiations
- Digitization and organization of documents in a structured data room as the basis for approaching potential buyers
- Valuation of individual properties using the income approach, including an analysis of actual and market rents, vacancy rates, and WAULT, as well as an estimate of short- to medium-term capital expenditure requirements
- Derivation of a market-based purchase price range based on comparable transactions and a local submarket benchmark
- Development of the marketing strategy: positioning the portfolio, defining the target buyer groups (regional property owners, family offices, smaller institutional investors), and determining the marketing format (structured off-market process)
- Preparation of sales documentation, including a brief profile, an information memorandum, and the data room structure
- Identifying and selectively approaching potential buyers; coordinating showings and handling buyer inquiries
- Management of the bidding process, evaluation of indicative offers, and support during exclusive negotiations
- Coordination of the due diligence phase and consultation with legal and tax advisors through the notary appointment
As a result, the portfolio was successfully sold to a regional property owner through a structured off-market process. The early establishment of a robust data foundation and the clear positioning of the portfolio contributed significantly to shortening the marketing period and achieving a purchase price in line with market conditions.
Systematic Portfolio Analysis and Strategic Realignment of an Institutional Real Estate Portfolio
Comprehensive analysis, valuation, and strategic realignment of a Germany-wide real estate portfolio (residential, office, and retail properties) for an institutional investor, with the goal of developing a data-driven action strategy for the entire portfolio.
The scope of services included, in particular,
- Structured data collection and processing for the entire portfolio (location, property type, year of construction, lease structure, historical purchase prices, maintenance history)
- Valuation of individual properties using the income approach and the discounted cash flow method, including sensitivity and scenario analyses
- Analysis of the leasing situation for each property (vacancy rate, tenant mix, WAULT, remaining lease terms, rental rate potential)
- Assessment of the structural and technical condition (year of construction, renovation status, investment backlog, ESG risks, and energy efficiency)
- Submarket Analysis: Classification of each property within its local submarket based on supply and demand dynamics, rental rate trends, and population projections
- Assessment of the property's rental appeal, as well as an evaluation of its short- to medium-term repositioning potential and marketability
- Identification of opportunities for value enhancement, high-risk properties, and areas requiring action (re-leasing, capital expenditure needs, restructuring, divestiture)
- Portfolio Clustering: Systematic Grouping of Hold, Manage-to-Core, and Divestment Assets Based on a Multidimensional Scoring Model
- Development of a project-specific action plan that includes measures, responsibilities, a timeline, and key performance indicators
- Prioritizing and sequencing portfolio initiatives while taking into account liquidity needs, market timing, and regulatory requirements
- Implementation Support: Overseeing marketing processes, coordinating asset and property management, and providing transaction support for properties for sale
- Development of a standardized portfolio reporting system and a management dashboard for the ongoing monitoring of key performance indicators and progress on initiatives
As a result, a transparent, data-driven foundation for strategic portfolio management was established for the investor. The systematic clustering and the resulting action strategies enabled the prioritized implementation of measures designed to increase value and minimize risk, and sustainably improved portfolio quality.
Securing project development financing for a real estate developer through a competitive bidding process in the German banking market
Advising a real estate project developer on the structuring, solicitation, and negotiation of a large-scale debt financing arrangement for a real estate development project. The goal was to secure a tailored financing structure that took into account the project-specific requirements, market conditions, and the requirements of institutional financing partners.
The scope of services included, in particular,
- Preparation and implementation of a structured bidding process within the German banking sector to engage suitable financial institutions
- Preparation and compilation of financing-related documents, including the business plan, financial model, and project and collateral structure
- Analysis and comparison of incoming financing offers from an economic, structural, and legal perspective
- Development and coordination of the target financing structure, including covenants, collateral package, disbursement conditions, and cash flow mechanisms
- Management and coordination of the entire financing process among project developers, banks, legal advisors, technical consultants, and other stakeholders
- Assistance in negotiating term sheets and the final financing documentation with prospective financial institutions
- Supporting the credit review and due diligence process through to financial close
The focus was on securing competitive financing terms, structurally optimizing the project financing, and efficiently executing the process through to the successful disbursement of the loan.
Transaction Management for the Purchase of a High-Street Retail Property in Düsseldorf
Supporting the acquisition process for a retail property in a prime location in Düsseldorf on behalf of an institutional investor.
Main Areas of Practice
- Structuring and managing the entire acquisition process, from the initial review through to closing
- Conducting and coordinating commercial, technical, and legal due diligence
- Analysis of property and location quality, as well as evaluation of lease structure in the high-street environment
- Coordination with internal decision-makers and external consultants
- Assistance in negotiating the terms of a sales contract and commercial parameters
- Managing the data room and ensuring a structured flow of information
- Interface Management Between Sellers, Advisors, and Investors
- Supporting the implementation of the transaction through to its successful completion
The focus was on the efficient and risk-oriented implementation of the acquisition process in a competitive inner-city market environment.
Request for Proposals and Award of the Marketing Contract for the Sale of a Residential Real Estate Portfolio Consisting of 27 Properties in Germany
Advice on the structured selection of a marketing partner for the sale of a Germany-wide residential real estate portfolio, including the conduct of a competitive bidding process.
Main Areas of Practice
- Design and structuring of a multi-stage bidding process to select suitable marketing partners
- Preparation of the bidding documents, including the scope of work and requirements for marketing concepts
- Identifying and approaching potential real estate brokerage firms and marketing specialists
- Conducting and managing the bidding process, including Q&A and bid evaluation
- Development of a scoring model to enable objective comparison of incoming bids
- Evaluation of marketing concepts, price proposals, and placement strategies
- Preparing and facilitating the decision-making process, as well as providing support during the award process
The focus was on the transparent, structured, and market-oriented selection of a suitable marketing partner to ensure the optimal placement of the portfolio.
Design, fundraising, and launch of a Luxembourg SICAV-RAIF for a residential real estate portfolio in Austria
Assisted an asset manager in structuring a Luxembourg fund vehicle, raising capital, and onboarding investors, as well as in building a residential real estate portfolio in Austria.
Main Areas of Practice
- Development of the fund strategy and design of a Luxembourg SICAV-RAIF, taking into account regulatory and tax requirements
- Structuring the fund and investment architecture, including coordination with international legal and tax advisors
- Support for the fundraising process, from approaching investors to closing the deal
- Support for investor onboarding, including coordination of subscription processes and documentation
- Coordination of the fund launch in close collaboration with Luxembourg-based service providers (including the AIFM, custodian, and administrator)
- Identification and Support of Acquisition Processes for Residential Real Estate in Austria
- Management and coordination of due diligence, as well as support in transaction negotiations
- Alignment between Fund Structure, Investor Requirements, and Operational Asset Management
The focus was on the integrated implementation of fund structuring, capital raising, and portfolio development in a cross-border context.
Sales Strategy and Marketing of a Development Site in Southern Germany
Advising a real estate project developer on the structured preparation and successful placement of a property through the development of a market-driven marketing strategy.
Main Areas of Practice
- Conducting a thorough potential analysis that takes into account possible uses, building regulations, and the market environment
- Development of a clear sales and positioning strategy to target appropriate investor groups
- Preparation and organization of all relevant property information for the marketing process
- Preparation of professional marketing materials (including teasers, property descriptions, and data room structure)
- Identifying and targeting potential buyers, as well as supporting investor communications
- Support in organizing and managing the marketing process through the bidding phase
- Coordination with legal and technical advisors as part of transaction preparation
The focus was on the structured preparation of the sales process and a targeted marketing approach to maximize the property’s appeal and marketability.
Acquisition of a Germany-wide portfolio of 58 retail properties, including financing structuring
Advising a real estate private equity investor on the acquisition of a large-scale, nationwide diversified retail portfolio, as well as on the simultaneous structuring and securing of acquisition financing.
Main Areas of Practice
- Participation in the structuring and implementation of the acquisition process for an extensive retail portfolio
- Overall coordination of commercial, technical, and legal due diligence
- Analysis of portfolio quality and assessment of opportunity and risk profiles at the individual property and overall portfolio levels
- Design and implementation of the financing structure, including the selection of, outreach to, and negotiations with financing partners
- Aligning the financing parameters with the transaction structure and investor requirements
- Assistance with contract negotiations and support in the preparation and finalization of transaction documentation
- Managing the interfaces between investors, financing banks, consultants, and other project participants
- Overseeing the closing and providing support for the integration of the portfolio into the existing structure
The focus was on the coordinated management of the transaction and financing to ensure a structured and timely completion of the acquisition process.
Conceptual Development of a Real Estate Portfolio Management System for an Asset Management Company
Conceptual review and further development of the existing portfolio management system to improve manageability, transparency, and regulatory compliance.
The scope of services included, in particular,
- Analysis of the existing system landscape as well as the business and regulatory requirements in portfolio management
- Identification of opportunities for optimization in data structure, reporting logic, and key performance indicators
- Development of a target concept for an integrated portfolio management system in accordance with KAGB requirements
- Further development of KPIs, management, and reporting structures to improve portfolio analysis
- Coordinating technical requirements with internal stakeholders (including fund management, risk management, and controlling)
- Assistance in translating functional requirements into technical specifications
- Supporting implementation and ensuring consistency between the system, processes, and reporting
As a result, a solid foundation was established for more efficient, transparent, and regulatory-compliant portfolio management.
Redesign of Data Management and Reporting for a Real Estate Mezzanine Investor
Design and implementation of a new, Excel-based reporting and data management solution to significantly increase efficiency and improve data quality.
The scope of services included, in particular:
- Analysis of existing reporting and data structures, as well as identification of opportunities for optimization
- Design of an integrated data management and reporting architecture based on Excel
- Development of automated reporting tools using extensive VBA programming
- Structuring and standardizing data sources and ensuring consistent data flows
- Implementation of control mechanisms to improve data quality and traceability
- Automation of recurring processes to reduce manual effort and the likelihood of errors
- Coordinating reporting requirements with relevant internal stakeholders
As a result, a significantly more efficient, transparent, and scalable reporting solution was created, enabling well-informed portfolio management.
Conflict of Interest Management in the Context of Real Estate Funds for a Pfandbrief Bank: Risk Management
Conducting a structured workshop to identify, assess, and manage conflicts of interest in connection with real estate fund investments in a manner that complies with regulatory requirements.
The scope of services included, in particular,
- Analysis of Potential and Existing Conflicts of Interest Related to Investments in Real Estate Funds
- Assessment of existing risk management policies, processes, and governance structures
- Development and refinement of strategies for identifying, managing, and documenting conflicts of interest
- Aligning requirements with relevant regulatory requirements and internal compliance guidelines
- Support in integrating the workshop results into existing control and monitoring processes
- Interface management between risk management, compliance, business units, and other relevant departments
The focus was on developing practical, actionable solutions and strengthening existing governance structures for addressing conflicts of interest.
Change in Management and Strategic Realignment of a Real Estate Family Office
Advising and supporting a change in management at a German real estate family office, with a focus on strategic realignment and corporate development
The scope of services included, in particular,
- Structuring and supporting the transition process at the executive level, including defining roles, responsibilities, and governance structures
- Assistance with the selection and onboarding of the new management team, as well as ensuring a smooth transfer of knowledge
- Analysis of the company's current strategy, organizational structure, and business processes
- Development and implementation of a strategic realignment that takes into account the interests of investors and owners
- Further development of the organizational structure and optimization of decision-making and management processes
- Interface management between shareholders, management, and operational units
- Supporting internal and external communication during the leadership transition
The project was aimed at ensuring a structured and seamless transition of management responsibilities, as well as the sustainable development of the organization in line with the family office’s strategic objectives.
Interim Fund Management of a Real Estate Investment Fund under the KVG
Interim fund management and portfolio management of a real estate investment fund with an international portfolio for a Munich-based real estate service and asset management company operating within the regulatory framework of the KAGB.
The scope of services included, in particular,
- Assuming technical oversight of the fund management unit while remaining operationally involved in day-to-day business
- Carrying out operational fund management at the Service-KVG level, taking into account the outsourced functions in accordance with the KAGB
- Ensuring the proper administration of the specialized AIF in close coordination with external portfolio management and asset management
- Ongoing monitoring and management of the international real estate portfolio, taking into account complex investment and holding structures
- Coordination and oversight of external service providers, in particular property managers, custodians, appraisers, and local legal and tax advisors
- Ensuring regulatory compliance (including the KAGB, investment terms, and outsourcing agreements) and providing support for reporting, risk, and liquidity processes
- Interface management between Service-KVG, investors, portfolio management, and other project stakeholders
- Supporting transactions from a KVG perspective, including carrying out internal approval processes and reviewing documentation
- Support in the further development of the fund structure and the optimization of processes and governance structures
The role involved both the overall management of the unit and active participation in the day-to-day management of the fund, with a focus on efficient organization, regulatory compliance, and the further development of the internationally oriented portfolio.
Restructuring and Acquisition of 3 Properties as Part of a Debt-to-Equity Swap for a Pension Fund
Advising an institutional investor (pension fund) on the acquisition of an existing real estate portfolio from an insolvency proceeding as part of a debt-to-equity swap for Luxembourg fund structures.
The scope of services included, in particular,
- Structuring and implementation of the debt-to-equity swap in accordance with insolvency, corporate, and regulatory requirements
- Analysis of the existing financing structure and development of the target structure at the level of the Luxembourg funds
- Management and coordination of legal, tax, and financial due diligence in the context of restructuring
- Interface management between the insolvency administrator, creditors, advisors, and international fund and structuring partners
- Assistance with the negotiation and implementation of transaction documentation
- Supporting the transfer of the real estate assets into the target structure of the Luxembourg fund vehicles
The focus was on value-preserving restructuring, the regulatory-compliant integration of the Luxembourg fund structure, and efficient implementation within the timeframe dictated by the insolvency proceedings.
