Technical Asset Management

In times of a thriving and fast turn-around real estate market, asset managers, lenders, and investors face challenges to act quickly in order to manage technical issues within their properties. Sometimes, due to limited in-house resources, external suppliers are required to

• acquire and sell built assets
• on-board and integrate acquired assets within their portfolio
• prepare and refresh-built assets for the sales process
• manage portfolios and create value or income enhancement measures
• manage and control supply chains such as property and facility managers

TA Europe actively supports our client’s teams with Real Estate Asset Management (REAM) in planning, implementing and monitoring of value or income, improving measures in built assets whilst considering all phases of the real estate lifecycle.

As Technical Asset Managers TA Europe thus focuses on technical aspects of a property or a portfolio of properties, considering the impact on its value, cost or income improvements. Sometimes we identify improvements during a technical due diligence for a vendor or a buyer, sometimes whilst managing projects for our clients. More often we are specifically asked by our clients to support their asset management team to identify or evaluate opportunities for value enhancement or cost savings.

The technical asset manager can provide support during various phases of the real estate lifecycle. TA Europe offers both project-related technical asset management (e.g. specific project management assignments, processing of technical findings after onboarding of the property, etc.) and ongoing technical support in the day-to-day business as a technical advisor to relieve the commercial management team of the real estate portfolio and support it with technical expertise.

For example, we support our clients’ asset management teams in all technical-commercial aspects

• after a successful transaction, we support and accelerate the integration of newly acquired portfolios or single properties into our clients’ asset management, incl. cost and income accounting, supply chain adaption, optimising and implementing Capex and Opex measures, project and cost management, property and facilities management, etc.
• we establish sustainable recommended actions in line with individual portfolio strategies, handling Europe-wide real assets in different local sub-markets with a variety of types of use and connecting and communicating with all parties involved corresponding with the company’s strategy and appearance in the market

Recent Technical Asset Management projects TA Europe have undertaken for clients in the last two years:

Client: GIC (Government of Singapore Investment Corporation)
Property: Uptown München, 38-storey Tower, O2 HQ Germany, plus Campus Office Building

• Technical support on reviewing specific tenant complaints and reported defect issues, along with future end of life cycle aspects for MEP plant
• Acting as landlord’s representative for approving tenant fit-out works and alterations, along with liaising with fire safety experts on compliance issues
• Advising owner (landlord) client on future proposed tenant lease obligation (dilapidations) issues and supporting on lease extension review
• Providing fire insurance (reinstatement cost assessment) valuations

Client: Rockspring (now part of Patrizia)
Property: Elisen Park, Retail Park, Greifswald

• Technical Audit of retail park property with mall shopping, hypermarket, DIY store and petrol station, to review maintenance and statutory compliance by center management as part of a Triple-Net lease

Client: Gold Tree Switzerland
Property: Fachmarktzentrum (neighbourhood retail park) in Halle (Saale); Automotive Supplier Offices and Production Facility, Stuttgart

• Technical assistance for the landlord at handover to tenants of retail units in neighbourhood retail park
• Reviewing SPA obligations for the tenant, on behalf of the new landlord, as part of follow-up for sale and leaseback deal
• Technical support dealing with end of warranty period inspections, reviewing statutory compliance and approvals for construction works