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At At Principal Real Estate Europe, we are able to offer a complete accounting solution for real estate funds in multi-jurisdictional investment structures. With customized reporting and local back office support we deliver end to end reporting from property to fund level to support fund managers and maximise performance.
Our services include fund and property level accounting to provide net asset calculations according to INREV, EPRA, IFRS and other local GAAP standards. We provide Financial and Investor reporting as well as Statutory reporting and coordination of annual audits.
Our expertise includes the understanding of local markets with accounting teams in key European jurisdictions and a single point of contact to facilitate seamless communication.
Our knowledge and experience covers a wide range of accounting standards including IFRS and local GAAPs such as Luxembourg, Germany, the Netherlands, Spain and the UK.
Substantial resources and expertise are dedicated to remaining an industry expert in real estate systems and our client’s needs. Using our purpose-designed data warehouse enables the provision of “fit for purpose” accounting solutions which meet the requirements of fund managers and investors alike.
Our system provides a real time web-based view of the financials across the portfolio using Yardi V.7s and FinAsset.
Debt Management & Treasury
In addition to core fund and asset management, Principal Real Estate Europe provides additional services to manage loan exposures and treasury issues for funds under management.
Principal Real Estate Europe maintains high level relationships with banks and other lenders, facilitating competitive debt finance terms for our investments under management and achieving enhanced outcomes in any restructuring and financing negotiations.
Full transparency with lenders
Excellent relationships arise from regular contact and also from the provision to lenders of full investor reports. A key aim is to flag issues early in order to actively manage negotiations.
Interest risk management
We work with investors and with lenders to achieve optimal hedging solutions: minimising cost and maximising flexibility.
Currency risk management
Working with investors to identify optimal risk profile and to implement the required strategy.
Ongoing cash management
Ensuring that investment cash flows are managed efficiently and that surplus cash meets risk versus return objectives.
Principal Real Estate Europe provides a suite of investment management services in addition to core fund and asset management capabilities and offers in-house expertise across a full range of “professional services” including company secretarial services.
Investors can expect access to these services and functions:
- Fund structuring, implementation and operation
- Drafting and implementing asset management, investment management, loan and other documents
- Ensuring that all corporate governance issues are identified and dealt with
- Monitoring compliance with fund documentation
- Co-ordinating distributions and payments to investors
- Where legal advice is outsourced, driving decisions (selection, monitoring and fee negotiations) on third party legal providers in order to obtain best value for money
Principal Real Estate Europe can draw on a wealth of in-house knowledge in terms of fund structuring and operational matters.
Principal Real Estate Europe includes Company Secretarial as services within its Operations team which has experienced personnel operating out of each of its offices.
Tax & Structuring
In addition to core fund and asset management expertise, Principal Real Estate Europe has a full range of vertically integrated services to improve the performance of funds and assets under management, to simplify outcomes and responsibilities for investors and lead to ‘sale-optimisation’. Tax and structuring is an important element of what we term professional services and includes:
Ensuring tax-efficient holding structures provide maximum flexibility while balancing commercial considerations of cost and ongoing management of fund entities, while co-ordinating external advice where appropriate.
On tax implications in the course of acquisitions, dispositions, refinancings etc.
With statutory tax reporting and filing.
Integrity of holding structures and residency
Demonstrating management and control in line with substance and residency requirements by experienced professionals across Principal Real Estate Europe offices. To include structuring for potential new funds, refinancing, acquisitions and disposals.
Principal Real Estate Europe tax and structuring expertise is important to ensure that assets and entities are maintained in a ‘sale-optimised’ state, ensuring that compliance requirements are up to date, achieving efficiency in time and cost through the disposition process.
Principal Real Estate Europe is regulated in Germany (by Bafin), the United Kingdom (by the Financial Conduct Authority), France (by AMF) and in Luxembourg (by the CSSF) and has implemented robust and consistent processes, systems and controls across the business to ensure risks are being properly managed, clients’ and investors’ interests are properly protected and regulatory obligations are being met or exceeded.