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Hidden potential for optimisation
Administration, production, research, distribution – the diversity of Germany’s economy places unique demands on the country’s corporate real estate. Many companies still own their own real estate, often citing tradition or emotional connections for their continued owner-occupancy. In economic terms, however, such statements make little sense, especially as corporate real estate requirements are evolving ever faster and owner-occupancy is becoming more and more of an obstacle to growth. Owning real estate ties up both capital and personnel resources – which would be far more profitably invested in a company’s core business.
A study carried out by the University of Regensburg has shown that companies with a large proportion of real estate among their corporate assets have lower stock market valuations. The study found that the shares in the German corporations that owned the largest proportions of real estate traded at 17% below their book value. A number of international studies have clearly demonstrated that the sale of owner-occupied corporate real estate provides a significant boost to company valuations.
BEOS supports companies in unlocking this potential by working closely with our corporate clients to develop tailored real estate solutions. In some cases, the greatest potentials do not lie in the disposal of owner-occupied corporate real estate via a total sale. Alongside the potential sale of (partially) unused corporate real estate, companies should always consider the sale-and-leaseback option for space that is currently occupied and will continue to be used in future. Retaining ownership of corporate real estate as one component of a company’s assets is, of course, always another option, for which BEOS can be appointed as an experienced partner to provide asset management services.
Fully or partially vacant real estate is a serious burden to many companies, tying up both capital and resources. BEOS acquires real estate on behalf of investors and at the request of current owners, takes over the property management and repurposes the real estate for new users. The acquisition of complete property portfolios is as much an option as the purchase of individual buildings and sections of a company’s property Portfolio.
BEOS manages corporate real estate in every corner of Germany. Companies lease these properties, which are fitted-out to meet their specific needs – whether office, production or logistics. Renting professionally managed real estate enables companies to react flexibly to their constantly evolving space requirements.
Sale-and-leaseback transactions allow companies to activate the capital they have tied up in their corporate real estate. The models developed by BEOS are far more than just financing solutions. Our bespoke medium to long-term leaseback models are oriented towards the specific requirements of our corporate clients. This includes flexible lease agreements, with tailored lease extension options and individual termination provisions. In many cases, the company as tenant can be granted wide-ranging contractual freedoms, enabling it to act independently and autonomously in a range of circumstances.
Some companies don’t want to sell their corporate real estate, they are more interested in a partnership to ensure its professional (re)development. It is for such clients that BEOS offers Joint Ventures, developed in close collaboration with our corporate partners and tailored to their specific requirements – which is exactly the same approach we take to developing solutions for the areas within our partners’ real estate.
Reletting, modernising, repurposing – BEOS does all of these as an asset manager mandated to represent the best interests of real estate owners. The primary goal of everything BEOS does is to support our tenant’s core businesses and increase their productivity. BEOS thoroughly analyses its tenants’ businesses, determining a tenant’s future space requirements and identifying opportunities for enhancing the value of the real estate – which BEOS then implements – irrespective of whether the tenant is the company that sold the real estate in the first place, or a completely new tenant.