Investment and asset management group Silverton has unveiled plans to collaborate with an international construction group and real estate service provider on distressed assets.
An agreement between the two parties has been signed, which will focus on residential properties throughout Germany with project volumes of around €25 mln.
Silverton’s responsibilities for the group will include identifying assets and non-performing loans, together with taking over the letting management of the ‘broken developments’ and ‘distressed assets’ acquired.
The objective is to take advantage of opportunities to acquire, recapitalise and complete the construction of distressed real estate projects presented by the current market environment.
Following acquisition, the developments will be completed and marketed by the group’s in-house teams.
Silverton will provide support in sourcing and acquiring appropriate development projects and properties ensuing from non-performing loans (NPLs) secured on real estate.
The parties said that a detailed examination of the initial projects was already under way.
