Fit Asset closely advises one of the leading Bulgarian Real Estate Consulting Companies in its market entry as outsourcing partner for property management services in Germany. Our objective is to profit from an excellent IT environment, comprehensive knowledge of the German language and the significantly lower cost of doing business in Bulgaria. This goal will be realized by transferring tasks from mainly quantitative work processes to qualified help desk support activities using digital service management structures. What is already regarded as standard in other market sectors is now entering the real estate economy in Germany; namely, the division of labour across country borders. The EU-, NATO- and WTO-member Bulgaria is considered to be one of the leading outsourcing partners worldwide. Fit Asset is helping to reduce mind barriers, to establish contacts and to assist in implementing change processes.

Since 2014, Fit Asset has acted as advisor to a Swiss-based family office in its takeover of majority shareholding of the project development company Bergdorfer Tor in Hamburg. Commercial due diligence on the urban quarter development company was conducted. At the former postal real estate, a number of real properties will be developed, which include about 100 residential apartments and an associated management office building, a senior citizens’ residence, a medical centre specializing in radiology therapy and an office and event business centre. In total, construction of roughly 39,000 m2 of GFS built in various blocks of buildings will commence in mid-2015. Fit Asset will continue to act as advisor for the family office in shareholder management of the investment.

In 2014, FIT ASSET successfully counselled a German residential real estate fund company for the purchase of a portfolio with about 900 accommodation units in North Rhine-Westphalia and Lower-Saxony.

From 2010 to 2012, FIT ASSET accompanied an international private equity company at their opportunistic involvement in a special purpose entity listed on the stock exchange in Denmark with residential real estate property in Germany. During an interim management mandate as CEO of the German subsidiaries, the companies were first stabilized and then – after utilization of the portfolio – were successfully liquidated. The net asset value was about 500 million Euros.

A non-performing residential portfolio with a value of about 90 million Euros was successfully utilized in a multistage bidding process with the assistance from the financing state banks.

From 2012 to 2013, FIT ASSET assisted one of the largest residential real estate companies listed on the stock exchange with the reorganization of their portfolio and asset management. During the withdrawal of involved financing investors, business plans for refinancing structures were created and CAPEX projects were structured and executed. Additionally, during this time, strategies for the portfolio concerning sustainability, investment, and disinvestment were developed. The department’s personnel was reassembled and integrated into the new company culture and management was handed over to several successors.