Union Investment Leverages LEVERTON’s Smart Data Solution for pan-European Portfolio Sale to Amundi Immobilier
LEVERTON GmbH, the market-leading solution for smart data management, has accelerated the due diligence process for the Union Investment Real Estate GmbH’s (Union Investment) pan-European portfolio sale to Amundi Immobilier (Amundi), comprising 17 properties across 6 countries.
LEVERTON successfully deployed its innovative smart data platform for the ‘Aqua’ portfolio transaction between Union Investment and Amundi, making it one of the largest European real estate portfolio transactions of the year. The purchase agreement has been signed and the transaction to Amundi is expected to close in Q4, 2015.
Engaged by Union Investment in December 2014, LEVERTON helped create an ‘electronic vendor data room’ for the lease files of the ‘Aqua’ portfolio which comprises of 17 office properties with around 278,000 square meters of rental space in six Western European countries, with 75% focusing on the UK (London, Glasgow, Cardiff), France (Paris) and Germany (Ismaning, Ratingen, Frankfurt/ Main). Other locations included Vienna, Helsinki and Rotterdam. The properties generate an annual gross rental income of around €60 million. At the time of sale, 96.6% of the space was let (based on rental income). The portfolio is broadly diversified across 145 office tenants. The properties sold include the Duetto Business Park in Helsinki, the Nord 1 in Frankfurt’s Europaviertel district, and the Westferry Circus in Canary Wharf, London.
Throughout the engagement, LEVERTON extracted key data points from 309 lease files, consisting of over 2,700 documents and more than 25,000 pages in five different languages. The LEVERTON platform was open to 3 potential investors and 13 advisors such as CliffordChance, Jones Lang LaSalle and Cushman & Wakefield. The LEVERTON platform enables the user to display and review the extracted data in 12 different languages and export the data into customized Excel sheets. All extracted information is hyperlinked to its source in the contract, significantly accelerating the vendor due diligence and due diligence of potential selected buyers.
Although this has not been LEVERTON’s first engagement with Union Investment, this has been the largest project thus far in which LEVERTON has supported Union Investment with its smart data technology.
LEVERTON develops and applies disruptive deep learning / machine learning technology to extract and manage data from corporate documents in more than 20 languages. Our clients from the financial and real estate sectors optimize their contract management significantly, manage operational teams more efficiently and process transactions faster. Asset documentation with an underlying face value of more than €40 billion is managed with LEVERTON’s smart data technology. The integrated smart data platform runs on LEVERTON servers in ISO 27001 and ISO 9001 certified data centers that guarantee highest security.