PAMERA awarded 150-million "Workout" portfolio instruction by Bouwfonds REIM

Frankfurt, 30. May 2012 - PAMERA Asset Management GmbH has been appointed by Bouwfonds REIM, as asset manager of a "Workout" portfolio of eight properties in Berlin, Hamburg und Essen. The focus of the instruction for the 150-million-Euro, heavily management-intensive portfolio is on letting and sale. As five of the buildings are in Berlin and another around 100 km to the south, the portfolio will be managed from PAMERA's Berlin office, which opened a few months ago.

The properties comprise of two office buildings, five mixed-use properties (office & retail, office & DIY centre, retail & storage, 2 with retail & residential) and a residential investment with around 1,100 tenants.

Maximilian Isenberg, the director at PAMERA responsible for the portfolio, is pleased that PAMERA was awarded the asset management instruction, under a tender structured by Hatfield Philips. He outlines his strategy: "We are in the process of drawing up a detailed business plan for each of the portfolio properties and have already opened negotiations with potential tenants, in order to reduce the - in some cases vast - amount of vacancy and hence to increase the number of potential purchasers."

Dirk van den Acker of Bouwfonds REIM explains the choice of the asset manager: "We chose PAMERA because we were and are truly impressed by their hands approach of management-intensive portfolios, the involvement of senior management and PAMERA's commitment to offer value to both tenants and landlords."