0 Replies Latest reply on Oct 5, 2010 8:51 AM by Florian Boehme

    Forward Auction of real estate - office building

    Florian Boehme Expert

      We are planing for a forward auction of real estate / office building.

       

      Our lawyers / consultants are already discussing some of the many vital terms to this project, which will be carried out in German jurisdiction.

       

      Nevertheless of the many strings attached to this project, we would be pleased to learn about some experiences, that were made within the Exchange Network.

       

      Please share your experience on this type of project - maybe with some details like

      • type of real estate and country
      • estimated sales value vs. achieved sales value
      • number of bidders involved
      • auction format / adjustments used (reserve price, extensions, ....)
      • bidding dynamic (# of bids, # of extensions)
      • did you carry out a decisive auction, where winner wins the business - or did you leave the decision open (we do not favor this approach)
      • Last but not least: what were the main obstacles, what are the key lessons learned?

       

      We are planing to have 10 - 15 bidders and the office building is probably worth around € 15 Mio. Currently we are trying to sort out the contract terms, which will take some more time (...). I'll share our experience later on.

       

      Thank you, Florian

      (P.S.: Sorry I think I posted this twice)