References

Reagle Oy acted as the seller’s advisor when Elite Kiinteistökehitysrahasto I Ky sold a 15 000 sqm multiuse asset located in Konala, Helsinki,  to Julius Tallberg-Kiinteistöt Oyj. The asset consisted of office, warehouse and retail spaces, which were let to approx.  50 tenants.

The structured selling process proceeded according to the predefined plan: after studying the asset very closely, we prepared a professional investor memorandum which also included extensive tenant analysis and a description of the city’s planning processes and ongoing development projects nearby.

The marketing process started after finishing the IM: instead of passive marketing on the online platforms, we started an active marketing process where we contacted all the investors that had been identified and agreed upon with the customer. All the interested parties were provided with the IM and other marketing materials and given a description on how the bidding process proceeds.

Thanks to the effective and active marketing and the structured process, we received multiple good offers on the asset despite the challenging corona situation. After a tight  tendering we chose a partner to complete the purchase process.

As  final result, the asset was sold according to the predefined and tight timeline and the objectives set with the customer were fulfilled and exceeded.

Reagle Oy assisted WestStar Oy in a value creation project regarding a former light-industrial and warehouse property in Lahti.

WestStar acquired the property for development purposes. In addition to the former light-industrial and warehouse use, there was a potential for partial commercial use, due to the central location and size of the plot. With a turnkey principle, Reagle handled all the lease negotiations, as well as the neighboring consultations related to the deviation procedure of the current city plan.

Despite the many phases of the project, the process carried out with Rinta-Joupin Autoliike proceeded efficiently and the user was able to open their Lahti premise as planned.

During 2020-2021, Reagle Oy acted as a strategic advisor to the listed Boreo Plc (formerly Yleiselektroniikka Oyj) in the comprehensive reorganization of their business premises. During the co-operation, the possibilities for consolidating the Group’s offices were explored and the sale of the then head office property in Olarinluoma, Espoo, was carried out through a structured process. The cooperation followed the order below.

1. A survey of the current situation of the Group’s business premises and the future needs for business premises. At the same time, the suitability or further development of the then head office property for the Group’s wider use was also assessed.

2. It was stated that the then head office property is not suitable as a consolidated office of the Group

3. Extensive market survey of possible new premises in the Helsinki Metropolitan Area

a. As a result of the analysis, the conclusion to consolidate the Group’s premises to one of their premises located in Ansatie, Vantaa

4. Commercial consulting related to the negotiation of a new lease and alterations

5. Sale of the then head office property in Olarinluoma, Espoo

The project was carried out efficiently in close cooperation with the customer and the end result was in line with expectations. The total duration of the project was about 6 months.

Reagle acted as advisor to Hoivatilat Oyj in the first divestment of their care portfolio. The portfolio consisted of six properties located mainly in southern Finland. The properties were built in 2014-2017 and the average rental maturity of the properties was just over 12 years. The sites were leased to large private kindergarten operators and health care providers.

The property sales process proceeded according to a pre-defined plan: first, after carefully reviewing and visiting the properties in the portfolio, we prepared professional sales material on the properties, including a detailed financial analysis of the properties and their financial situation.

Before starting the actual marketing, we made a survey of potential investors to whom we will start marketing the item. Due to the nature of the portfolio, the investor base consisted of both local and international players. After the customer was approved by the investors to be contacted, the actual marketing of the item began: we contacted all the pre-agreed investors and presented the items in the portfolio in detail. For those interested in the portfolio, we provided extensive material for the property and a description of the progress of the sales process. In addition, we also coordinate site reviews with interested investors.

As a result of effective marketing, we received several good offers from the portfolio. After a strict competition for the bids, the Special Investment Fund eQ Hoivakiinteistöt was chosen as a partner, with whom the deal was completed. As part of our service, we also led the due diligence process and sales negotiations to completion. As a result, the portfolio was sold on a pre-determined and tight schedule, in addition to which the goals set together with the customer were clearly achieved.

Reagle partnered with Elite Alfred Berg in strengthening the target portfolio of Elite Real Estate Development Fund II. Elite Alfred Berg wanted to strengthen Elite Real Estate Development Fund II by increasing the weight of stable cash flow properties. At the beginning of the assignment, Reagle, together with the customer, carried out an extensive study, on the basis of which the grocery segment assured both parties. The segment’s attractiveness is particularly enhanced by the fact that there are significant grocery store properties in Finland that are not owned by Kesko, the S Group or institutional investors.

Initially, Reagle conducted a significant background study, in which all small and medium-sized grocery stores in Finland were mapped. Locations of large owners were removed from this listing and the remaining 400-500 potential grocery stores were organized using location, population growth, and other factors selected together with the customer.

Reagle ran the project on a turnkey basis. We identified potential properties, contacted their owners, conducted purchase negotiations, and finally led the due diligence processes to completion. To date, we have successfully acquired 13 grocery stores for Elite in various size categories throughout Finland. Thanks to Reagle’s efficient processes and operating models, site-specific lead times are very fast, averaging only a couple of months.

The client has also been very satisfied with the process: “Reagle has been a suitable partner for us in all respects and a reliable player as an advisor. We appreciate Reagle’s innovative approach and positive approach to doing practical tasks. Throughout the line, Reagle’s personnel are self-initiated, solution-oriented, and trust-building with their general operating models, which is a basic prerequisite for such a strategic and ever-refining assignment. Our cooperation will continue in the future as well, ”says Antti Hänninen from Elite Alfred Berg.

The annuity institution Hereditas was founded in 1905 and wanted to provide a form of savings in which the first depositor received a current annuity that is passed down from one generation to the next. It is therefore a very long-term investor. The company’s corporate form was changed to a limited company at the turn of the year 2015-2016, but operations will continue as before.

Hereditas owned a value building in the center of Helsinki on the corner of Annankatu and Iso-Robertinkatu. Given the management-intensive nature of direct real estate investment, Hereditas decided to consider liquidating the property in the spring of 2019.

Reagle’s sales team organizes a structured and discrete sales process for the target on a turnkey basis. With the help of the scheduled sales process and professional sales materials, the best result was achieved for the seller and a long-term domestic listed real estate investment company was selected as the buyer. The successful transaction was ensured by close cooperation with Reagle, the seller and the seller’s legal advisor.

Brunswick Real Estate is a major player in the Nordic real estate market. They have a portfolio of just under € 3 billion to manage and more than a couple of billion in real estate debt to manage, an operation run by 60 people. In the fall of 2020, Reagle served as Brunswick’s strategic advisor in analyzing one of their investment mandate portfolios as well as making a business plan.

During the collaboration with Reagle:

• Analyze all about 50 items in the portfolio from a financial perspective
• Site visits and asset analyzes for each site.
• We determined the market value of the properties, taking into account the possible schedule and highlighting the necessary measures
• Preparation of a sales strategy for the entire portfolio, as well as suitable sub-portfolios

In part, based on this analysis and plan, Brunswick sets out to implement the planned process to maximize the value of the portfolio.