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Nexia Ebner Stolz

Real Estate Sector

Commercial and residential real estate has a special role to play in every aspect of life and business – whether as an investment, as loan collateral, for personal or business use, or as public space. Real estate affects everyone, whether private individuals, domestic or international companies, banks, financial service providers, pension funds, or the public sector. Property can be not just a home, but an investment and a nest egg for retirement. Besides serving as loan collateral, it also plays an important role in historic preservation and tourism. Millions of tourists visit monuments like Cologne Cathedral, Neuschwanstein Castle and the Reichstag. In other words, real estate is an important sector of the economy, tying up large amounts of capital.

Plan­ning, buil­ding, mana­ging and mar­ke­ting real estate is a com­p­li­ca­ted task that takes spe­cial exper­tise. Many of our advi­sors on the Ebner Stolz real estate team ori­gi­nally wor­ked for real estate com­pa­nies or real estate inve­s­tors, and can draw on that expe­ri­ence. Which means we can help cli­ents from the real estate indu­s­try, inve­s­tors, and pro­vi­ders of finan­cing suc­ceed in every phase of the real estate value chain.

Ebner Stolz has advi­sed or is curr­ently advi­sing sel­lers, buy­ers, owners and users of all forms of real estate nati­on­wide – inclu­ding resi­den­tial pro­per­ties, office and com­mer­cial pro­per­ties, hotel pro­per­ties, retail pro­per­ties and shop­ping cen­ters. Our cli­ents in the real estate busi­ness are insti­tu­tio­nal inve­s­tors, pri­vate inve­s­tors and family offices, banks, asset mana­gers and pro­ject deve­lo­pers.
 
Our nati­on­wide exper­tise is poo­led by way of our real estate cen­ter of com­pe­tence, which also pro­vi­des qua­lity assurance. It inclu­des rep­re­sen­ta­ti­ves from all four of our spe­cial­ties. So we can cover the full range of real estate con­sul­ting from a single source.
 
We offer cross-bor­der real estate exper­tise through our Nexia Inter­na­tio­nal net­work. Here we’ve been one of the foun­ders of the world­wide Real Estate Spe­cial Inte­rest Group, which we also chair.
 
Our team inclu­des experts from all four of our dis­ci­p­li­nes – which means we can cover every aspect of the real estate indu­s­try in-house.

Our ser­vices at a glance

  • Legal struc­tu­ring of sale, invest­ment and acqui­si­tion pro­ces­ses
  • Foun­ding spe­cial-pur­pose vehi­c­les and acqui­si­tion vehi­c­les
  • Legal due dili­gence
  • Draf­ting and nego­tia­ting real estate con­tracts, inclu­ding
    • Pro­perty and inhe­ri­ta­ble buil­ding rights agree­ments (asset deals)
    • Share purchase agree­ments (share deals)
    • Joint ven­ture agree­ments and other orga­niza­tio­nal agree­ments
    • Cor­po­rate and asset suc­ces­sion agree­ments
    • Finan­cing and col­la­te­ral agree­ments
    • Lea­ses
    • Asset, pro­perty and faci­lity mana­ge­ment agree­ments
    • Prime-con­trac­tor and gene­ral-con­trac­tor agree­ments
    • Agree­ments bet­ween neigh­bors 
  • Con­sul­ting on con­struc­tion and plan­ning law for real estate pro­jects
  • IPO con­sul­ting, design of REITs
  • Tax struc­tu­ring of real estate tran­sac­ti­ons (sales, invest­ments and acqui­si­ti­ons)
  • Tax clau­ses for asset deals or share deals, inclu­ding inhe­ri­ta­ble buil­ding rights and finan­cing agree­ments
  • Tax due dili­gence
  • Tax opti­miza­tion of invest­ment struc­tu­res of all kinds (at the cor­po­rate and single-pro­perty level), in all legal forms, parti­cu­larly direct invest­ments, fund struc­tu­ring (clo­sed-end and open-end funds, spe­cial funds), debt and equity invest­ments
  • Tax opti­miza­tion of real estate hol­dings and pro­cess imp­le­men­ta­tion
  • Ongoing tax advice on all mat­ters of day-to-day busi­ness ope­ra­ti­ons
  • Advi­sing on defen­ding against pro­b­lems and asser­ting rights, inclu­ding assi­s­tance with tax audits and with appeals, law­suits and acti­ons to pro­tect rights both in and out of court (tax courts of the federal sta­tes, the Federal Tax Court, the Gene­ral Court of the Euro­pean Union and the Euro­pean Court of Justice)
  • Spe­cia­li­zed advice on value added tax, espe­cially risk assess­ments and docu­men­ta­tion under Sec. 15a of the Value Added Tax Act
  • Advi­sing on struc­tu­res for land trans­fer tax
  • Tax advice on suc­ces­sion, inclu­ding inhe­ri­tance and gift tax
  • Vol­un­ta­rily coming for­ward in mat­ters of tax under-decla­ra­tion
  • Annual tax returns (inclu­ding annual finan­cial sta­te­ments and tax balance sheets) for all kinds of taxes, and advance pay­ments (value added tax, emp­loyee with­hol­ding tax)
  • Finan­cial and pay­roll acco­un­ting for taxes, inclu­ding pre­pa­ring pay­ment traf­fic
  • Tax opti­miza­tion of invest­ment struc­tu­res (at the cor­po­rate and single-pro­perty level)
  • Acco­un­ting, pre­pa­ra­tion of annual finan­cial sta­te­ments and tax returns
  • Advi­sing on land trans­fer tax and pro­perty tax
  • Single-entity and con­so­li­da­ted annual finan­cial sta­te­ments (Ger­man Com­mer­cial Code, IFRS)
  • Finan­cial due dili­gence
  • Deter­mi­ning purchase price (clo­sing balance sheet, clo­sing acco­unts) and purchase price allo­ca­ti­ons
  • Recon­ci­lia­tion cal­cu­la­ti­ons and con­ver­si­ons bet­ween repor­ting for­mats
  • Inter­nal audi­ting
  • Con­sul­ting on inter­nal con­trol sys­tems
  • IT con­sul­ting
  • Risk mana­ge­ment
  • Cor­po­rate and real estate apprai­sals
  • Audits under the Regu­la­ti­ons for Bro­kers and Deve­lo­pers
  • IPO con­sul­ting
  • Pro forma finan­cial infor­ma­tion
  • Restruc­tu­ring con­cepts and reor­ga­niza­tion apprai­sals under stan­dard IDW S 6 (new ver­sion)
  • Restruc­tu­ring for port­fo­lio opti­miza­tion (rents, costs, invest­ments, divest­ments, pro­ces­ses)
  • Assi­s­tance with imp­le­men­ting plan­ned restruc­tu­ring
  • Real estate port­fo­lio ana­ly­ses, port­fo­lio struc­tu­ring
  • Finan­cial and com­mer­cial due dili­gence
  • Pre­pa­ra­tion and review of busi­ness plans
  • Finan­cial mode­ling
  • Value-ori­en­ted mana­ge­ment and con­trol­ling con­cepts
  • Restruc­tu­ring real estate finan­cing and con­sul­ting on NPL tran­sac­ti­ons
  • Exp­lo­ra­tion and assess­ment of opti­ons for finan­cing in a cri­sis

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