Area of expertise

Real estate

Our real estate team possesses many years of comprehensive experience in the property sector. We are well-acquainted with the unique industry-specific requirements. We see ourselves as a point of contact for all aspects related to property, both domestically and overseas.

Our property-specific range of services is aimed at private individuals, investors, and institutional investment groups with property assets, at reals estate companies and asset management companies (AMCs; Ger: Kapitalverwaltungsvesellschaften, KVG) with open- and closed-end property funds.

A particular focus of our property-specific services is on property funds (open- and closed-end alternative mutual and specialised investment funds). In this area, we have extensive experience consulting for well-known AMCs.

Above all, our range of services includes the following:

Auditing and audit-related advisory services

  • Auditing of annual and consolidated financial statements of reals estate companies (HGB (German Commercial Code)/IFRS)
  • Legal and supervisory law audits of annual financial reports and financial statements for open- and closed-end property funds
  • Investment law accounting (funds accounting, reporting, financial statements, annual statements, annual reports) for open- and closed-end property funds
  • Audits in accordance with § 16 MaBV (Ordinance on Estate Agents and Property Developers)/ § 24 FinVermV (Financial Investment Intermediation Act)
  • Prospect audits (IDW S 4)
  • Financial due diligence for transactions with reals estate companies

Tax consulting

  • Ongoing tax consulting regarding property and reals estate companies
  • Creative tax consulting, incl. in the context of the restructuring of properties and reals estate companies
  • Tax consulting for AMCs (KVGs) and property funds (also incl. InvStG (German Investment Tax Act))
  • Determination of deferred taxes/capital gain taxes
  • Tax due diligence for transactions with reals estate companies


  • KAGB (Capital Investment Code) valuation of property companies for open-end property funds
  • Plausibility checks and evaluation of expert property valuation reports (IDW S 10)
  • On-demand company valuations (IDW S1)
  • Assistance with the compilation/adaptation of internal valuation guidelines and conceptual frameworks in accordance with the KAGB

Business consulting

  • Assistance with corporate governance (incl. compliance management, opportunity/risk management, system of internal control)
  • Assistance with internal audits
  • Assistance with property financing and monitoring of financial covenants
  • Optimisation of working capital for reals estate companies
  • Succession consulting for companies and private individuals with comprehensive property ownership
  • Going concern assessment (particularly in the case of imminent insolvency)