Valad to manage German CMBS portfolios

Valad Europe is taking over the asset management of two CMBS portfolios comprising 28 retail assets in Germany.

Corporate services provider SFM Europe awarded Valad Europe the mandate to asset manage the Mansford portfolio of 22 retail properties located in and around Berlin and the Edeka portfolio of six retail properties located in the Düsseldorf area. The properties are predominantly let to subsidiaries of supermarket operator Edeka.

Valad Europe said it would implement a focussed strategy to build sustainable value in the portfolios and sell assets at the right time. This will include asset-by-asset business plans aimed at protecting and increasing rental income, reducing running costs and repositioning the 28 assets in order to build sustainable value.

Andreas Hardt, Valad Europe’s head of Germany, commented: 'With a weighted average lease length across the two portfolios of seven years, we have been appointed with a clear remit to reduce running costs, extend current leases and reposition the assets where possible.'

With a team of 37 in Germany operating out of offices in Berlin, Düsseldorf, Frankfurt, Hamburg and Munich, Valad Europe manages €600 mln of assets and 720 tenants, occupying 1.3 million m2 of space in Germany.