Silverton increases assets under management to EUR 400 million
Frankfurt, 30. Januar 2019 – Silverton Group (Silverton), specialist in the investment and asset management of commercial property and loans secured on real estate, achieved a total transaction volume of EUR 120 million in the 2018 financial year and increased its assets under management to around EUR 400 million.
The past year featured intense activity on the acquisition side. Properties with a total value of approximately EUR 750 million were considered for acquisition, 35% of them in off-market deals. The regional concentrations were in Munich, the Rhine-Main area and North Rhine-Westphalia.
As a result, the real estate team was increased from six to ten members by new appointments. Silverton now employs a total of 22 staff.
The largest single deal in 2018 involved the acquisition of a multi-regional property and NPL portfolio. It comprises office and retail properties in cities including Essen, Duisburg and Regensburg, providing a total lettable area of around 140,000 square metres. The aim is to develop solutions for the partly highly complex loan structure and to reduce the existing vacancy in the properties.
Taking advantage of its commercial and technical asset management teams and specialists in loan servicing, the company aims to stabilise the properties over the next 36 months before returning them to the market. A sub-portfolio will be offered for sale by the end of March 2019.
Elsewhere, acting for a capital partner, for the first time Silverton was able to identify and organise the acquisition of a property in the Munich region, an office building in Aschheim with a lettable area of ca.17,000 square metres. This is the next stage of the company’s strategy of increasing its presence in the Munich region. It is planned to refurbish the property, which is situated around 10 kilometres northeast of Munich, and to considerably reduce its vacancy rate from the current 50%.
For good measure, Silverton gained two new capital partners in 2018 and has already carried out transactions on their behalf.
Stefan Dölker, Managing Director and co-founder of Silverton, on the company’s plans for 2019: „Our focus is increasingly on our core markets of Southern Bavaria/Munich, the Rhine-Main region and North Rhine-Westphalia, and on identifying and acquiring value-added properties. We also plan to further boost our local presence and network by opening new offices and recruiting new staff. Another project is to establish a specialized loan servicer in Greece, jointly with a local partner and to apply for a corresponding licence at the Bank of Greece. The focus will be loans secured on commercial real estate.“