01.
Background
Our client owned a portfolio of 80 food-anchored retail properties – predominantly retail warehouses and four shopping-centers. Due to insolvency of the main tenant, intensive asset management was required including reletting and repositioning of the assets.
02.
Approach
The mandate comprised all aspects of asset management and extended beyond the direct lease agreements to include the subleases of the anchor tenant, real. Special challenges included negotiations with (sub)tenants due to upcoming renovation works during ongoing operations and rental arrears (COVID-19).
03.
Outcome
In addition to ongoing asset management, a change of property manager was successfully completed, FM service providers were implemented for the portfolio, and project management for extensive renovation works at several locations was taken over.
