Global real estate special situations firm Revetas has been mandated to support the repositioning of a $4.0 billion US property portfolio by the German investment manager who represents multiple German pension funds and other investors. The mandate is designed to complement the portfolio with dedicated expertise tailored to today’s market environment.
Following a strategic review, Revetas has been appointed to oversee the execution of the portfolio’s repositioning program. Under the existing governance framework, Revetas brings additional institutional governance, restructuring, and capital markets capabilities to accelerate value-creation initiatives. To ensure speed and continuity, Revetas Group has been mandated as the Manager of the US management company that oversees the US portfolio.
The collaboration aims to capitalise on an evolving US real estate market repricing by pursuing the most suitable path for each asset – including repositionings, selective dispositions, refinancings and capital restructurings – while maintaining continuity for tenants, lenders and partners. The portfolio has a high-quality core component and includes life sciences, multifamily residential, student housing, partially completed developments, and offices across multiple top-tier US Cities.
Eric Assimakopoulos, Founding Partner of Revetas Group, said: “Revetas has been mandated as an independent fiduciary to maximise value for all investors in the portfolio. The portfolio contains outstanding, high-quality real estate. By combining the investors’ deep platform knowledge with Revetas’ deep value and operational toolkit, we are confident we can optimise value for existing stakeholders through the most appropriate solution for each property.”
Revetas has partnered with Marty Burger to help lead the repositioning. Marty is the Founder/CEO of Infinite Global Real Estate Partners and is one of the most experienced investors in US real estate. He was formerly CEO of Silverstein Properties – one of the largest investors in New York City real estate.
Marty Burger, Founder and CEO of Infinite Global Real Estate Partners, said: “After years of stagnation in the markets following the Covid pandemic, the team of seasoned real estate professionals at Revetas, who are specialists in resolving complex special situations, is ideally positioned to help large institutions work through legacy issues while creating new opportunities. I’m excited to partner with Eric and the Revetas team on this portfolio and future initiatives.”
Eric Assimakopoulos founded Revetas Group in Europe in 2002 with vertically integrated real estate institutional investment platforms focused on intensive value-add opportunities and capital appreciation, as well as distressed and special situations. The Group has invested and managed over $6.0 billion in deals in ten countries since inception, including recently €600 million in South Korean institutional mandates in the US and Europe. Before that, Eric Assimakopoulos founded The Gnome Group, a design-builder of data centres and partnered with Morgan Stanley Real Estate Funds (MSREF) to form MetroNexus, a technology-driven data centre real estate investment firm that acquired and developed Data centres in the US and Europe, where he served as chairman and CEO.
