The SIM Gruppe, specialising in investment and management services for residential properties in Germany, has taken over the investment and asset management for a portfolio of 1,249 residential units. These properties belong to the insolvent real estate companies BEVO DE Alpha 2a GmbH and BEVO DE Alpha 2b GmbH. The properties are primarily located in Halle (Saale) and the surrounding region.
A private investor has mandated the SIM Gruppe and initially ensures the financing of ongoing property management. This mandate fits into the SIM Gruppe's growing expertise in non-performing loans (NPLs) and non-performing assets (NPAs). In this context, the company supports investors, banks and insolvency administrators in the operational stabilisation and strategic realignment of such portfolios.
Focus on Operational Stabilisation
BEVO DE Alpha 2a GmbH and BEVO DE Alpha 2b GmbH are part of the insolvent DEGAG Group. Insolvency petitions were filed in March 2025, and proceedings were opened in September 2026 by the Hameln Local Court. Dr. Rainer Eckert of ECKERT Rechtsanwälte was appointed as the insolvency administrator. The SIM Gruppe's takeover of management occurs in a situation characterised by significant maintenance requirements and restricted property management over a prolonged period.
Initial measures focus on securing the basic supply of water, electricity and heating to the properties, as well as ensuring public safety. In parallel, the properties will be systematically inspected to precisely record their structural condition, existing defects and the current occupancy situation. The reorganisation of caretaker, cleaning and green space maintenance services is also planned to re-establish a reliable service structure. Necessary maintenance measures will be prioritised according to urgency and implemented gradually within the available financial resources.
Strategic Approach to Complex Portfolios
Benjamin Spieler, Managing Director of the SIM Gruppe, emphasises that for distressed portfolios, merely rearranging figures or contracts is not sufficient. He highlights that operational reality on site is crucial: ensuring supply and public safety, prioritising defect rectification, supplementing missing service providers, and identifying residential units that can be re-let with reasonable effort. This operational work forms the basis for all further decisions. He explains that in such portfolios, clarity must be quickly established regarding where financial resources should be deployed and which measures will achieve the greatest effect. This leads to an action plan that is technically necessary, financially viable, and locally implementable.
The NPL division of the SIM Gruppe focuses on residential portfolios characterised by vacancies, maintenance backlogs, weak management structures, or a general need for economic restructuring. In addition to stabilising individual properties, the group is also geared towards taking over larger, regionally distributed portfolios. Mr. Spieler describes an NPL mandate as more complex than a typical management mandate under difficult conditions, as reliable data, service providers, or financial leeway are often lacking. The primary task is to create a manageable portfolio and provide the client with a reliable basis for future strategy.
