Repositioning Mixed Use Asset, Mainz Region

The Challenge

  • Mixed-use building complex in the region of Main
  • Uses comprising vacant hotel, distressed supermarket, flat and medical practice
  • Non-performing creditor

The Mandate

  • To secure operation of asset
  • To manage asset for sale
  • To develop a business plan for the respective problem areas
  • To execute the business plan with the aim to limit the damage on disposal

The Results

  • Achieved full occupancy of hotel rooms as furnished apartments
  • Former conference area leased as a photo studio
  • Former caretaker’s flat leased to regular tenant
  • After eviction of supermarket tenant plan for subdivision into 3-4 smaller and more lettable units was drawn up
  • Sale with only partial occupancy clearly exceeded all vendor expectations