BMO Real Estate Partners completed residential property development of 120 apartments and approximately 1,500 m² retail space. The vendor was a regional project developer in North Rhine-Westphalia of Germany, who completed the development in 20 months.
Duff & Phelps' Role
Duff & Phelps Real Estate Advisory Group served as an independent real estate consultant in the transaction of a development project. Duff & Phelps' duties were to conduct a Technical Due Diligence on the planning and project monitoring of the construction of the building until hand-over to the Client. In this connection qualities and construction status were checked regularly so the fund could be released for payment.
About BMO Real Estate Partners
BMO Real Estate Partners part of BMO Global Asset Management benefit from the support of a worldwide organization with over 1,500 employees and more than £150 billion under management. Their ultimate parent is BMO Financial Group, one of North America’s largest banks. In this case BMOs’ Real Estate Partners goal was to invest into stable residential property/ development for a large pension fund. The special purpose fund is managed by a large KVG in Germany.