Type: Core Plus – Lease Re-gearing
A member of Boxberg Capital, when investing for a Sharia compliant separate account, acquired and financed a number of core plus properties in Hamburg. The buildings required lease up and lease re-gearing as well as minor capex and modernisation upgrades. Our asset management implementation proved extremely successful and the innovative lease up program we created ended up dominating the submarket. The portfolio was refinanced during the credit crisis and later successfully sold to core investors.