ASSET MANAGEMENT
Stabilization and creation of value
- Identification of new investment opportunities for national and international investors
- Analysis of the potential of the Properties under management in order to maximise the value
- Supervision of refurbishment, restructuring or development projects to optimise performance and create value
- Management of distressed assets and non-performing loans
- Creation of business plans which balance real estate strategies with fluctuating local market conditions
- Implementation of legal procedures in partnership with the legal department
- Cooperation with accounting firms managing the accounts of the SPV or of the individual Properties
- Proactive added value activities related to the Assets (sales, leasing, income generation...)
- Preparation of budgets, final accounts (quarterly, annually) and coordination of all extraordinary activities
PROPERTY MANAGEMENT
Rent collection and administration
- Creation of Asset database (consistencies, cadastral data, graphs, photos, floor plans...)
- Creation of contractual database (commercial leases, business leases, temporary lettings...) including hard/soft copy data room
- Administration of commercial and business leases (advisory during the signing, expires, renewals, tax adjustments Istat...)
- Invoicing of rent for long-term tenants and temporary lettings
- Auditing of payment of rents and service charges with access to Client’s online banking
- Monthly (or as required) reporting concerning rent collection and arrears
- Verification of existence and compliance of bank guarantees and insurance policies
- Verification of tenant turnover data necessary for the calculation of variable rent and for statistical purposes
- Collection and control of VAT returns for turnover assessment
FACILITY MANAGEMENT
Technical and maintenance management
- Verification and monitoring of the conditions of the Properties
- Drafting of the scheduled ordinary and extraordinary maintenance
- Monitoring the compliance of routine maintenance activity
- Arranging planned on-site visits to the Properties
- Authorization for third party supplier invoices and payments
- Management of maintenance and supplier contracts (tender procedures)
- Supervision of emergency interventions
- Administration of service charge budgets for Consortiums/Landlords
- Monitoring of operating and extraordinary expenses
ADVISORY & LITIGATION
Legal activity
- Overall advisory and assistance regarding all issues relating to all real estate asset classes
- Carrying out of Due Diligence (legal, technical, administrative)
- Assistance in negotiation and drafting of all contractual documentation from acquisition to disposal
- Legal assistance for the recovery of arrears both via negotiations and/or litigation
- Legal assistance in all civil proceedings arising and relating to the management of ordinary and extraordinary activity
- Examination of all contracts held within the SPV (tenants and suppliers); monitoring contractual deadlines and obligations
- Provision of new standard business and commercial leases
- Management of the negotiations and drafting of contracts in the letting of vacant units
- Supervision of the dutifulness of tenants to Property rules
- Screening of problematic tenants, with Chamber of Commerce verifications and prejudicial research
ABOUT US
MF LAW & TAX FIRM and MFRE S.r.l. were created by Paolo Magnaschi, lawyer, who had the aspiration to build a "boutique" real estate firm capable of providing Clients with a highly specialized advisory service, complete, accurate and precise, for the management of their real estate portfolio in Italy. The aim, therefore, is to ensure the stability of the yields, to improve and maximize value (where possible) and, overall, to make the investments successful.
In the Italian market, there is an intense competition, amongst the more popular national and international service providers to assist and accompany the Client through the various stages of the extraordinary activities, and often the ordinary management of an asset is neglected (wrongly considering it as the “poor" activity).
Our belief, instead, is that this activity should be considered the most important and strategic one, as it is the main reason of the investment for the Client: if the asset or corporate vehicle does not guarantee the forecasted returns (and more importantly, already paid, in terms of market capitalization) the investment becomes highly problematic.
This gap is not filled by the different management companies currently present in the Italian market, which usually guarantees an accurate rent collection exclusively in the context of a non-conflictual relationship with the tenants.
It is in this context, thanks to the trust granted to us by some of the most important players in the international market such as BMO Global Asset Management, LaSalle Investment Management, Catalyst Capital, Cordea Savills, Henderson, ADIA, ING, Pradera, Schroders, AEW Europe, P3 Logistic Parks as well as other Italian operators, that we have been able to implement our business model and our management strategy providing the supervision of specialized professionals such as managers, lawyers, and engineers. This is the added value of our activity.
The results have been evaluated by these investors extremely satisfactory, as is demonstrated by the gradual increase in the number of assets under management or under advisory at MF Law & Tax Firm and MF Real Estate Advisory. The success and appreciation of the work carried out has also allowed us to diversify our Clients, by acquiring the management and advisory of various retail assets, ranging from shopping centers, retail parks, factory outlets, to warehouses, offices, up to the residential sector. Currently, the company has more than € 800 million assets under management.
MFRE & MF STUDIO LEGALE E TRIBUTARIO
Corso di Porta Vittoria 54 - 20122 MILANO
Email: info@mfre.it
Tel: +39 02 54 67 89 01 r.a.