Frankfurt, 2 March – The Silverton Group (Silverton), the specialist in investment and asset management of commercial property and loans collateralised on real estate, considerably expanded its range of services and its international presence during the last financial year.
The largest single deal was the acquisition of 17 properties, in the „TechnologiePark Köln“ (TPK). Including a hotel and a conference centre, they have a total lettable area of ca. 123,000 square metres. In association with Apollo Global Management LLC, (Apollo; NYSE: APO), the assets were acquired for the Apollo European Principal Finance III Fund (EPF III), as part of a combined share deal and loan sale. The transaction included the shares in the property holding companies and the associated financing structure. Silverton facilitated the real estate aspects of the acquisition and assumed responsibility for asset management and the control of the planned technical measures.
After stabilisation, some of the assets were returned to the market. Properties with a total value of ca. 50 million Euro were disposed of, after Silverton had optimised them by active asset management.
The expanded range of services is mirrored by the increase in the company’s staff. The 15-strong team at the end of 2016 now has 19 members. Those newly joining the company in 2017 included Alexander Zahrt MRICS, as the new Director of Transactions, and Thorsten Leischke as Head of Real Estate Asset Management.
Silverton entered into a variety of participations, collaborations and joint ventures during 2017.
It also began a cooperation with the Vienna-based consultancy company 720°Restructuring & Advisory (720°), which combines a team of experts with a strong banking background and a dense network in the central and eastern European markets. At the end of 2017, the two companies jointly founded Silverton720 Debt Solutions d.o.o., as a joint venture based in Zagreb, Croatia. This is aimed at international investors and banks wanting to outsource the work-out of their non-performing loans. The local team, provided with additional support by colleagues from Frankfurt and Vienna, already manages a real-estate-secured NPL portfolio worth tens of millions of Euro.
In addition, in association with the well-known lawyer Ulf Bertheau, the Hamburg-based joint venture Silverton Maritime Solutions was established. The company offers services for banks and alternative banking institutions, for the outsourcing of ship financing. It also acts as a service provider for private equity investors. Apart from loan servicing, the primary focus of its activities will be on the operational management of loans.
Stefan Dölker, Managing Director and co-founder of Silverton, is anticipating further interesting deals in the area of value-add commercial real estate in 2018. „At present we are looking at a larger portfolio as well as a few smaller individual items. We are confident that, together with our clients, we will be able to further develop and expand the real estate portfolio.“