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Practice, not theory.

Short, concrete articles from our day-to-day mandate work – written for developers, owners and investors.

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Selling a property to institutional investors: the owner's guide

How owners prepare, position and market larger properties for institutional buyers – from buyer selection and documentation to due diligence and closing.

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Sales process

Selling property to institutional investors

Buyer universe, documents, preparation and positioning: the institutional sales process step by step.

How do I find institutional investors and buyers for my property?

Buyer segmentation, investment criteria, capital availability and qualification: how a robust buyer universe is built – and why address lists alone are not enough.

When is the best time to sell a property?

Asset status, buyer market and owner strategy determine the timing – not the season. A decision framework for owners of larger properties.

Which documents does an institutional real estate investor need?

From the first approach through the information memorandum to the data room: a checklist of the documents institutional buyers expect at each stage.

Preparing a property for sale: what owners should settle before launch

Data quality, cash flow, CapEx, documents, buyer strategy and internal decision-making capacity – the work before the first investor contact.

Positioning a property: turning an asset into an investment story

Target buyer, cash flow, risk, upside, CapEx, financing and exit: how to build an investment case that withstands review.

The most common deal breakers in a property sale

From the missing lease amendment to unsecured buyer financing: issues that can trigger additional review, a price adjustment or an abort – and how to pre-empt them.

Transactions

Deal structures in detail

From asset deal to portfolio sale: structure, process and the levers that move the price.

Asset deal or share deal? A decision framework

Object of purchase, contract transfer, tax consequences and buyer universe: raising the structuring question mid-process costs negotiating room.

Off-market or bidding process — what delivers more?

Discretion or price competition: the suitable route depends on the buyer universe and the asset, not on the method.

Forward deals: exit certainty before ground is broken

Forward funding or forward purchase? The difference lies in the specific drafting — payment mechanics, cost risk, security and handover conditions.

Sale-and-lease-back as a financing instrument

Releasing capital without giving up the location. Lease term, covenant strength and alternative use drive the price.

Portfolio sales: premium or discount?

Bundling only lifts value where the assets fit together. Otherwise the weakest location shapes the negotiation.

Due diligence: the ten findings that cost you money

Observations from our transaction practice: it is frequently the same gaps — and many of them can be closed in advance.

Asset classes

Segments under the microscope

Offices in transition: what is still financeable

Lease terms, tenant covenant, energy performance, capex requirement: how strongly each criterion weighs differs by lender and asset.

Logistics: clear height beats yield

Access, alternative use, roof load for PV: why building parameters co-determine the buyer universe in the most sought-after segment.

Valuing operator-run assets correctly

Hotels, care homes, student housing: lease or management agreement is one of the key drivers of the risk profile — alongside location, market and concept.

Convenience retail: what the grocery anchor really carries

Indexed rents, turnover rents, conversion potential — a sober look at the retail park segment.

Selling residential portfolios: what really drives the price

Buyers pay for verifiable income and complete documentation. Both can be influenced before the process starts.

Student housing: the value drivers behind the multiple

Occupancy, operator quality, location and the utilities model interact — size alone says little.

Hotel acquisition finance: what banks want to see today

Operator covenant, rent cover and a realistic ramp-up are central review points — price per key alone does not carry the financing.

Selling a hotel: value drivers and the right moment

Operator contract, remaining term, rent quality and capex backlog interact with location, market and concept to shape the multiple.

Who buys larger residential assets and portfolios?

Insurers, funds, investment managers, family offices, listed landlords, private equity and regional owners – what each group looks for and why it shapes the process.

Which documents and metrics do investors review when buying a hotel?

Property, operation, operator and investment case: what buyers request for hotel assets – from FF&E and CapEx to occupancy, ADR, RevPAR and contract structure.

Investors

Capital & investment strategy

Core to opportunistic: setting realistic return expectations

Risk classes describe strategies, not returns — and where business plans fail in practice.

What investment committees examine

Ten questions that can regularly play a role in investment committees. Anticipating them in the memorandum often saves a round.

Club deal instead of going it alone

Governance, waterfall, call and put rights: how several investors hold one asset together — and which cases belong settled upfront.

Private debt: financing instead of buying?

Current income, security over the asset, shorter commitment — and the risks that are regularly underestimated.

Market

More from the team

Real estate M&A: consolidation in Germany and Switzerland

Corporate transactions instead of single asset purchases: what buyers want from platforms and where processes hinge on financing.

Whole loans: speed as a potential competitive advantage

One lender instead of two, no intercreditor negotiation. Whether that is economically cheaper depends on terms, fees and timeframe.

ESG and office refurbishment in the top 7

Weak energy performance can weigh on lettability, financing and capex requirements. What a repositioning means economically.

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