SIM Gruppe, an established partner for investment and management of residential properties in Germany, has completed two non-performing loan (NPL) transactions as part of an extensive mandate for a family office. This involved the acquisition of several individual loans with a nominal volume of approximately 55 million EUR. These loans are secured by a complex residential property portfolio, which comprises approximately 2,500 administrative units.
The mandate, which has been in place since October 2025, included not only the sourcing of the transactions for SIM Gruppe, but also a detailed analysis of the properties and an assessment of the economic and structural risks of the entire portfolio. Based on these findings, a comprehensive strategy for the acquisition and subsequent operational stabilisation of the assets was developed. With the acquisition of the portfolio, SIM Gruppe is also taking over asset and property management, as well as the strategic development and realisation of the properties.
Strategic challenges and planned measures
The initial situation of the portfolio is considered challenging. Several of the affected buildings show significant vacancies. Additionally, parts of the former ownership structures are in insolvency proceedings. The complexity is further increased by occasionally difficult micro-locations and the structural obsolescence of individual assets. A portion of the properties is earmarked for short-term disposal. For the remaining properties, targeted measures are planned to stabilise tenancies, increase income, and implement selective modernisations. The implementation of this strategy is primarily scheduled for 2026 and 2027.
Benjamin Spieler, Managing Director of SIM Gruppe, explained that the group's interdisciplinary strengths came to the fore in this transaction. He emphasised the importance of pragmatic decisions, short decision-making paths, and a pronounced hands-on mentality in such situations. Spieler highlighted that an integrated view of properties, financing, and operational implementation is essential, particularly in NPL transactions; SIM Gruppe's role extends beyond mere asset management.
Expansion of service portfolio
For SIM Gruppe, this mandate represents a strategic expansion of its service portfolio. In addition to operational management, advisory and structuring services for complex transactions are becoming increasingly important, especially for portfolios requiring restructuring or arising from special situations. Benjamin Spieler further explained that investments should ideally be supported from the analysis phase, potential solutions structured, and the chosen strategy then implemented operationally. Entering the management of NPL portfolios is a logical step for the company.
He predicted that in the coming years, more portfolios requiring restructuring or NPLs would come onto the market. With its integrated setup of asset management, property management, and operational implementation, SIM Gruppe sees itself capable of accompanying and developing such situations in a structured manner. The loan portfolios were acquired from both German and foreign credit institutions. Legal advice during the transactions was provided by the law firm Noerr. The collaboration with the family office is designed as a long-term partnership; further transactions are already being planned.
