Reorganisation: Experienced and well-established ACT team responsible for the self-administration of Alpha Real Estate Holding and 13 subsidiaries

Alexander Höpfner, Sven Tischendorf and Felix Melzer as well as Tara Kamiyar-Müller (Real Estate) have been responsible for the self-administration of the Germany-wide asset and investment manager and leading company in the privatisation of residential real estate – Alpha Real Estate Group – since 27 November 2023.

The entire property and construction industry in Germany is currently struggling with the consequences of high interest rates, rising construction costs and uncertainty in the face of falling property prices. In recent months, for example, the major nationwide property project developer Gerch and Euroboden in Munich, Nuremberg-based Project Immobilien and the Düsseldorf-based property companies Centrum and Development Partner have already had to file for insolvency.

Due to the economic challenges posed by the war in Ukraine, the energy crisis and, in particular, the drastic rise in interest rates and the resulting restraint on the financing and investment market, Alpha Real Estate’s business model has now also found itself in a precarious situation. business model of Alpha Real Estate also found itself in a precarious situation, which led to liquidity bottlenecks and the need for comprehensive restructuring.

With the subsequent applications for self-administration for Alpha Real Estate Holding and 13 of its subsidiaries, which the Mannheim Local Court decided in favour of, the starting signal has now been given for successful and far-reaching restructuring and reorganisation measures towards a repositioning and realignment in the current market. Jens Lieser from the insolvency law firm Lieser Rechtsanwälte, which specialises in insolvency law, has been appointed as provisional administrator.

With a transaction volume of 1.4 billion and a portfolio of 350 thousand square metres of residential and commercial space, the Mannheim-based investment house has been successfully designing and developing investment properties for private investors, tenants and owner-occupiers as well as institutional investors throughout Germany for 10 years with its full-service concept. Alpha Real Estate’s range of services covers the entire property value creation process, from buying and selling to active and value-enhancing asset and property management.

The ACT team is optimally positioned for the planned reorientation, as in addition to the well-known insolvency and restructuring practice of Sven Tischendorf and Alexander Höpfner, the strong expertise of the ACT Real Estate division under the leadership of Tara Kamiyar-Müller, which focuses on special property law situations/restructurings, will also be deployed here.

Alpha Real Estate self-administration:
act AC Tischendorf Rechtsanwälte, Frankfurt: Dr. Alexander Höpfner (lead, general representative, CIO), Dr. Sven Tischendorf, MBA (lead, general representative, CRO), Dr. Felix Melzer (general representative, restructuring), Dr. Tara Kamiyar-Müller (real estate restructuring), Dr. Fabian Laugwitz, MBA, LL.M. (real estate, commercial)