Real Estate Asset Management
Q Real Estate Services, part of QUALCO Group, is an independent RE Asset Management entity offering integrated and value enhancing solutions with regards to REO and RE Collateral management.
Q Real Estate Services, part of QUALCO Group, is an independent RE Asset Management entity offering intergraded and value enhancing solutions with regards to REO and RE Collateral management.
With 30 years of experience operating across the Greek and Cypriot real estate market, we hold detailed knowledge of business planning to consistently achieve strong results for our clients.
Pre – REO Advisory
- RE Collateral portfolio segmentation and analysis: Review, segmentation and segment analysis of the RE Collateral Portfolios, to identify potential REO buckets according to the client’s portfolio strategy
- Asset File Review: Collection and review of RE Collateral file information for the assets within the identified REO buckets
- Asset File Analysis:
- Identification of potential issues that could affect the liquidity of the asset and that would need to be taken into account at Borrower level negotiations
- Categorization of any issues identified according to their complexity / gravity (red/yellow/green)
- Indication of time and costs for the rectification of any issues (pre and post – REO)
- Formulation of REO Strategy:
- Proposed REO exist strategy at bucket and/or asset level
- Better understanding of the RE Collaterals underlying value
- Thorough analysis of potential extraction risks and complications
- Clear timeline and cost analysis to guide decision-making process
- Incorporation of anticipated remediation costs in the asset’s transfer price
- Following extraction, REOs will be marketable on shorter timeframes as issues will be swiftly resolved
RE Collateral Due Diligence & On-boarding support
- Legal Due DiligenceDue diligence of the asset’s legal file, with relevant legal report submission, including necessary remedial actions
- Technical Due Diligence Due diligence of the asset’s technical information and documentation (e.g. assessment of specifications and drawings), asset survey/inspection, technical modifications (including legalizations), etc.
- Specialized Tax Services Calculation of real estate tax dues and/or tax returns, filing of relevant documents for the issuance of tax certifications, registration/amendments of tax records, etc.
- On-boarding Support Negotiation, drafting and/or review of the SPA documents, issuance of land registry and municipality certificates, document execution and delivery of property keys
- Eviction Process Support Coordination of all actions to receive and deliver the eviction report, physical presence during the eviction to ensure smooth completion, property sealing, etc.
- Swift and effective resolution of any legal, technical and tax issues
- Valid completion of asset sales
- Effective completion of actions, according to pre-agreed timetable and cost
- Periodical progress reporting to the client
- Portfolio Asset Management
Asset management services include the following areas:
- direct asset disposal
- management of assets in need of light capex work and then disposal
- management of assets in need of heavy capex work/ development and then disposal
- management of assets in need of short to mid-term asset management (add value element) and then disposal (new tenant mix, new leases, renegotiate existing leases)
- Portfolio / Asset Disposal Strategy Validation of existing disposal strategy and/or development of new tailor made approaches based on each portfolio/asset special characteristics
- Master Brokerage Selection and coordination of appropriate brokers’ network throughout Greece customized to the needs of the specific portfolio
- Web- sales Disposal of assets via our respective dedicated platform (potentially through a JV with the selected brokers)
- An end-to-end integrated offering or separate stand-alone services, as per the client requirements
- Pre-agreed cost and time parameters, depending on the scope and size (i.e. number of assets) of each mandate
- Key Panel areas Legal, valuation, brokerage, facility & property management and asset management
- Panel selection Based on our local expertise, we will create a customize panel for each portfolio based on its specific characteristics, asset types and investor/owner needs, following a transparent RfP and evaluation process
- On – going Panel management:
- Performance monitoring & reviews (increases performance, maintains high quality services and drives results)
- Remuneration reviews (option to revisit long term contracts, increases performance, maintains high quality services and results)
- Negotiation of additional services if/ when required
- Regular reporting to the client on the performance of the Panel
- Replacement of selected parties, as per project’s needs and based on results
- Integrated offering and coordination of all 3rd parties under a centralized point of reference for the client
- Geographical coverage throughout Greece (including provinces)
- Pre- agreed fee matrix to gain cost efficiencies. Based on our experience this could result to a 10% -15% cost efficiency across a range of service lines
- Creating the right panels and manage them effectively has a positive impact on the outcome, recoveries and quality of the services
Highly multi-Jurisdictional experienced corporate real estate team providing high end and tailor made solutions for our clients.
George has extensive experience in real estate asset management, investment and banking through key positions both in public and private sectors.
Has vast experience over retail and corporate lines of business, both in Greece and Central Southeastern Europe, including Eurobank Properties REIC, and NBG Pangaea REIC. Recently he operated in Doha Qatar as an advisor for Real Estate, Energy and Mining projects and as a freelancer consultant to major Family Offices and state owned companies from Middle East, that participated successfully in the acquisition of Astir Palace Vouliagmeni S.A with AGC private equity partners.
He was also member of the team of Alvarez & Marsal Greece valuating major NPL portfolios of Greek systemic banks, secured by Real Estate collaterals.
Director Asset Management
Kostas specializes in NPL transactions (both sale and buy side) mostly relating to Cypriot and Greek banks’ projects and portfolios. Prior to QRES Kostas has been working as a freelancer for the last 5 years with clients such as 8GCP, DoValue, Alvarez Marsal Greece and other private clients. Prior to that Kostas was the CEO of the real estate management company of G.S. Livanos (Greek shipowner group) comprising commercial and hospitality assets. Kostas has also worked as an investment director to Piraeus Capital Management (Greece) and as an associate to Dolphin Capital Partners (Greece).
Kostas has an MBA from Columbia university, a MSc (Communications and Signal Processing) from Imperial college and a diploma in Electrical Engineering from National Technical University of Athens.
Director Alternative Investments
Daniel is an advocate, admitted to practice in both Cyprus and Greece, handling both common and civil law related matters. He is experienced in the provision of legal advice relating to M&A and Corporate Law, Banking & Finance Law, Capital Markets and Collective Investment Schemes. He has advised EU and third-country corporate and institutional clients such as banks, funds and investment firms on issues of project development and finance and commercial contract negotiations both from a transactional and regulatory perspective. Daniel worked for several years with the law firms of two Big4 firms and one of the largest law firms in Cyprus and immediately prior to joining QRES he successfully built the Financial Services, Funds and Capital Markets department of the law firm of a Big4 firm in Cyprus.
Daniel is an Oxford University graduate and scholar of the Alexander S. Onassis Public Benefit Foundation, Greece and the WSD Louey Foundation, Hong Kong.
Constantinos specializes in real estate mostly relating to Cypriot banks’ projects and portfolios. Prior to QRES Constantinos has been working as Sales and Marketing manager for the last 4 years for Philoktimatiki Public LTD, with clients such as AstoBank and other private clients. Prior to that Constantinos was the Head of Sales in a real estate company in Nicosia district.
Constantinos has an MBA from Middlesex university.
George with over 9 years’ experience in financial services and specifically the banking sector has built a successful career identifying mutually beneficial solutions and positively contributing to organisations’ bottom line. Combining strong communication and analytical skills, demonstrating a sound business acumen and being extremely results driven George has specialised in NPLs in Cyprus and Greece which also included underwriting loans.
Prior to joining QRES, George was a member of the management team at Pepper Cyprus, part of the Pepper Group of companies, leading a team of 7 people with a portfolio in excess of €300mln. There he gained experience in debt management, debt restructuring, loan servicing / workout, distressed debt, re-negotiation of existing securitised loans in default and asset onboarding. George has also worked at Thomson Reuters in the financial markets, specializing in FX and Equities and for Attica Bank in Greece in Arrears Management
Real Estate Agent
Daphne – Aggeliki Priovolou has a unique combination of Greek real estate market experience and sales experience dating since 2001 with acute understanding of commercial, financial, and legal issues. Very proficient in market knowledge, in strategic planning, developing and executing successful projects has worked at real estate agencies and privately. Daphne joined QRES team in Nov 2019. Studied in Athens University – Department of Economics and speaks fluent English and French.