SKG Real Estate Management
References
First transactions from all three sub-strategies – presented in anonymised form.
Execution
First transactions – acquired off-market
Three examples from our portfolio, one for each sub-strategy. The properties have been anonymised for reasons of confidentiality.
Basic Living
Solid existing apartments at low capital values: stable ongoing cash flow, value growth through re-letting upon tenant turnover.
Built 1900–1950, let well below market level. Modernisation with low CapEx funded from ongoing cash flow.
- Financed through a regional savings bank (Sparkasse), fixed rate until 2030
- Refurbishment of individual apartments upon tenant turnover
Manage-to-Prime
Apartments close to universities are gradually repositioned as furnished apartments – flexible between conventional and student housing.
Built in the 1960s, structurally sound, historically under-managed. Upon tenant turnover, apartments are furnished and let to students on a room-by-room basis.
- Conversion of a 5-room apartment into a 6-room apartment
- Attic to be converted into a studio – planning permission granted
Effortless Living
Fully furnished apartments with lease terms of 3 to 18 months and an all-inclusive service – rents are continuously adjusted to market levels.
Refurbished ten years ago, structurally well maintained, but under-managed operationally.
- Conversion of vacant commercial space into additional apartments
- District heating connection: energy class C to at least B