REAL ESTATE
INVESTMENT
DEVELOPMENT
FINANCE
VESRAM
REAL ESTATE INVESTMENT & MANAGEMENT INC.
TURKEY
REAL ESTATE
2015
ABOUT
US
VESRAM is formed in 2013 to
advise and assist international and
local investors and developers on
sophisticated real estate
transactions, premier commercial,
residential and mixed-use
developments in major metropolitan
markets throughout Turkey.
Vesram is the exclusive Real Estate Asset Management
Company in Turkey established to serve and protect investors’
endeavors. Our expertise and experience enhances the quality
of our investment strategies and decisions and offers our clients
the successful results they are pursuing in Turkey.
One of VESRAM’s greatest strengths is the quality and
experience of its team of professionals, which have actual
experience and are involved in implementing the firm’s
investment strategy and actively managing the investment
properties on behalf of its investors. These skilled professionals
provide VESRAM and its investors with the broadest expertise,
insight and perspective in acquisitions, disposals, asset
management, development, leasing, sales & marketing,
financing, tax, accounting, and even investor relations.
VESRAM utilizes experienced management, superior customer
service, and a focused business plan to achieve its goals. We
promote a corporate culture that attracts, engages, advances
and retains the highest caliber people. We give our real estate
specialists the resources to work effectively, and we gladly
reward our team for exceeding client expectations.
VESRAM is an Istanbul based real estate asset management firm experienced in acquisitions, disposals,
financing, design, construction, sales & leasing and property management which have been grouped
under three primary disciplines; investment management, development management and property
management.
OUR
PROFILE
VESRAM was founded under the
leadership of Hakan Eren, who is
the Chairman and grows with
unique expert-partners in the fields
of investment, development and
finance of real estate.
VESRAM
PARTNERS
HAKAN EREN
REAL ESTATE
SUAT PALPAS
FINANCE
KEREM GORKEN
M&A
Before founding VESRAM in 2013, he was the CEO & Board Member of three REITs successively that are publicly listed in Istanbul Stock Exchange, Kiler REIT, Sağlam REIT and Dogus-GeneralElectric REIT. He successfully completed the IPO of Kiler REIT with a record for Turkey with 10 times oversubscription.
Hakan headed numerous real estate development and construction projects for international companies such as GE, HSH Nordbank, Skanska, BovisLendLease, BP and McDonalds in Turkey. He has managed 20 real estate development and investment projects in Turkey and Europe, including residential, retail centers, office, logistics, university and a marina. He has been active in the Turkish RE market for 24 years practicing commercial and residential projects. He has a broad international professional network including American, Russian, British, Swedish and German colleagues and a wide local developer and consultants.
Hakan has been board members of top associations such as KONUTDER, GYODER and ULI. He holds a Civil Engineering degree of Istanbul Technical University, speaks fluent English and teaches RE Investment courses at Bilgi University. He is the founder of SHARE, a RE Conference which is growing in popularity.
Hakan is the Chairman of VESRAM and has outstanding experience on commercial and residential developments, investments,
Prior to relocating to Turkey and joining Vesram, Suat resided in Miami, FL for 20 years, and served as Vice President of Commercial Loans Department at BNY Mellon Bank, and Banco Sabadell, respectively. In addition to providing commercial loans, he worked closely with the Real Estate department of the bank assisting in various real estate deals. Suat has extensive credit analysis, loan structuring, loan underwriting, and deal negotiation skills. As a banker, he closed on numerous loans to institutions including hotels, restaurants, development companies, and REITs. He concurrently served on the Board of Directors for City Theatre as Treasurer.
He is fluent in English, has a Bachelor of Arts degree in Business Management and a Master of Science degree in Finance from Florida International University.
Kerem has an experience of 19 years in the field of finance in top investment houses in Turkey. He has outstanding knowledge about equity, bond and currency markets with experience in the corporate finance field. He has led teams of fund managers in managing mutual and pension funds including Aegon Pension Funds, and discretionary portfolios in Ata, Global, Eczacibasi, and Ziraat Portfolio Management companies respectively with an AUM exceeding one billion USD.
He has completed IPOs and private equity deals with international investment houses. Kerem has a broad international network of fund managers and investors from the USA, UK, and Gulf countries. Kerem holds a Mechanical Engineering degree from Istanbul Technical University and an MBA degree from University of West Georgia. He is fluent in English.
Kerem has joined VESRAM as a Partner in 2015 and he is responsible for M&A and private equity deals.
OUR
SERVICES
VESRAM pursues investments that offer our investors highly attractive risk-adjusted returns by employing a disciplined approach to property selection, acquisition, management, and sale of multi-tenant, income-producing properties in select metropolitan areas.
INVESTMENT
MANAGEMENT
VESRAM has established the strongest track record of managing real estate development projects in Turkey, providing our clients with a variety of tailor-made solutions across the whole range of property types and all stages of the development cycle.
DEVELOPMENT
MANAGEMENT
VESRAM offers daily monitoring and maintenance of each individual client’s asset throughout its lifecycle; thus guaranteeing the best performance and returns on investment. Tenant management needs utmost attention to details and relations.
PROPERTY
MANAGEMENT
VESRAM proactively works to review, source and originate the highest quality real estate investment opportunities in the Turkish RE market. Our thorough understanding of the real estate business and close relations with the players make us ideally suited to seek out, evaluate, and seize new development, acquisition, and disposal opportunities.
Our broad network of contacts within the Turkish real estate development, investment, commercial banking, private equity and professional services communities provides us with access to the most significant deals and we have built the biggest deal bank in years. VESRAM has the widest variety of products, with investment styles ranging from core to value added. We offer tailored solutions that meet the specific needs of our clients. Whether you want to invest in a specific city or type of asset; whether you are a pension fund or a private investor, we can provide the best solution for your needs.
Our real estate strategies + solutions + products combine years of actual experience sharpened with investor-focused mindset in order to generate
Our development team is focused on delivering tailored solutions to suit the specific needs of tenants or asset owners, managing development projects from inception to completion.
Our team of architects and engineers create asset value through the combination of architectural & construction quality and innovation with strong value engineering and risk management expertise.
VESRAM has established the strongest track record of managing real estate development projects in Turkey, providing our clients with a variety of tailor-made solutions across the whole range of property types and all stages of the development cycle.
Selection of resources is another critical aspect of a successful project development in Turkey. Local architectural and engineering design teams, countless contractors and sub-cs, banking facilities, legal and tax advisors and facility management service providers should be appointed very carefully to avoid failures.
We want your properties to be liquid assets as you start developing them. We design, build, operate and present them to attract a lot of bids supported by a sustainable NOI.
We have defined methodologies for you even before we meet. As we enter your premises all sorts of inefficiencies are magnified and we customize & detail our services accordingly.
From leasing and repositioning to strategic management and improvement of properties, our experts strive to add value at every stage of the project, which leads to the optimization of the property’s potential.
Following an acquisition, we take care of the administration and facility management of the property until its disposal.
VESRAM manages the relationship between landlords and tenants. In essence, we strive to minimize vacancies and identify new opportunities that will create value from your portfolio. We provide a harmonized view of your assets or your total portfolio, manage on-going costs and advise on a real estate strategy that maximizes balance sheet efficiency and broader organizational objectives.
INVESTMENT
MANAGEMENT
Our real estate services + products + solutions combine years of hands on experience
sharpened with investor-focused mindset in order to generate secure returns without
exceeding our clients' risk appetite.
SERVICES
DESCRIPTIONS
Deal Origination
Prime Off-Market Residential & Commercial Projects
Acquisition
Acquisition Advisory Services for Investors, Funds & Asset Managers
Due Diligence
Market-Financial-Technical-Legal-Tax Due Diligence Coordination
Research
Market & Competition Research & Assessment Services
Valuation
Valuation of Assets & Properties
Financing
Providing Equity & Debt Financing Options
M&A
Mergers & Acquisitions of RE, Construction & Materials Companies
Monitoring
Loan Monitoring Service for Banks and Investors
Fraud
Fraud and Forensic Services in RE Sector
Settlement
Dispute Settlement Services
DEVELOPMENT
MANAGEMENT
VESRAM is well equipped to manage property development services; design, construction,
tendering & procurement, sales & leasing with legal support that are integral to the
development process keeping in mind sensitive community concerns.
SERVICES
DESCRIPTIONS
Best Use
Analysis and Advisory Services for Concept & Product Mix
Design Management
Architectural & Engineering Design Management
Project Management
Management of Construction Activities
Cost Control
Budgeting & Cost Control Services
Quality & HSE
Quality, Health Safety and Environmental Controls
Financing
Providing Construction Finance
Residential Sales
Sale of Residential Projects
Office Leasing
Leasing of Office Projects
Retail Leasing
Leasing of Shopping & Entertainment Centers
Marketing & PR
Marketing, Advertising & PR Services for Branding
PROPERTY
MANAGEMENT
We know your projects and your assets just like we know your needs. We analyze your
business & projects; we define how we can improve them and approach proactively with a
proposal.
SERVICES
DESCRIPTIONS
Mall Management
Operational & Administrative Management of Shopping Malls
Office Management
Operational & Administrative Management of Office Buildings
Residence Management
Operational & Administrative Management of Residences
Re-Leasing
Leasing of Vacant Spaces & Leasing to New Tenants
Tenant Relations
Coordinating Tenant Relations & Settling Disputes
Rent Collection
Collection of Rents & Monthly Charges
Marketing & PR
Marketing, Advertising & PR Services
Event Management
Coordinating Annual Events Program
Legal Advisory
Technical Consultancy for Legal Affairs
ACQUISITION
Commercial & Residential
Properties
DISPOSAL
Single Asset &
Portfolio
The core mission of VESRAM's transactions specialists is to build on their strong and extensive local networks to source high-quality investment opportunities, negotiate powerful deals delivering sustainable performance for the benefit of our clients. We lead the due diligence as well as the acquisition processes, provide specialist advice on letting activities and structure all disposal transactions.
RESIDENTIAL SALES
Sales & Marketing Advertising & PR
We take a holistic approach to address the pricing potential and sales & marketing strategy for a project. Especially in Turkey, different approaches are required for different client clusters for different projects in different cities and neighborhoods. Accordingly we team up with different service providers for A, B or C type of customers and projects.
COMMERCIAL LEASING
Shopping Malls & Offices
We work closely with developers to secure tenants ahead of the completion of new buildings, business parks and shopping centers; with investors to maximize income from existing properties and keep vacancies to a minimum; and with corporate and public sector occupiers looking for cost effective, flexible property portfolios.
We provide advisory services for domestic and international property owners on the sale of properties or portfolios. We utilize our sector network to find potential buyers with strong appetite. We can add value to your strategic decision making that drive your investments, (e.g. leveraging, restructuring, timing of exit) and help you maximize your returns and timely closings of your investments.
DEAL ORIGINATION
Commercial & Residential
Assets & Projects
RESEARCH
Valuation, Research
& Best Use
VESRAM proactively works to review, source and originate the highest quality real estate investment opportunities in the Turkish RE market. Our extensive experience and relations in the market, makes us ideally suited to seek out, evaluate, and seize new development, acquisition, and disposal opportunities. Our broad network of development, investment, commercial banking, private equity and professional services communities provides us with access to the most significant off market deals.
VESRAM provides comprehensive valuation, appraisal and due diligence advice to a wide range of clients, including investors, corporate and public sector owners, lenders, and fund managers. Our clients use our valuation advice for a variety of purposes including assessing potential transactions, asset financing, financial reporting and IPO listings. We assess your property assets and identify where and how the greatest value might be realized.
VESRAM provides extensive real estate services & solutions to
institutions, corporations and individuals in Turkey.
DISTRESSED ASSET
Turnaround & Recovery
PROPERTY MANAGEMENT
Commercial & Residential
Facilities
VESRAM brings together a collaborative partnership to provide Distressed Project Recovery Services for real estate owners and lenders as they struggle to deal with non-performing assets. Following the assessment & analysis made, VESRAM generates a clearly defined strategic plan for the asset. Realistic and measurable goals are established based on performance indicators and requirements.
FINANCING
Equity & Debt
VESRAM is well equipped and has a strong network to undertake all aspects of debt and equity financing. We have substantial financial resources and access to institutional debt and equity providers in Turkey and abroad. Our team is experienced in financial modeling of sophisticated projects, and has the resources to execute a variety of financing structures.
SETTLEMENTS
Dispute & Negotiations
Negotiations allow the parties to agree to an outcome, which is mutually satisfactory. VESRAM can provide you with the absolute best team of expert negotiators to represent you with partner buy-outs, contract negotiations, disputes or lease and management agreement negotiations.
Buildings provide safety and comfort, protecting your assets productivity. Without effective facilities management, machinery breaks, systems fail, people cannot perform and your business will be at risk. We team up with the best facility management service providers in Turkey to maintain the quality of your buildings, so that tenants would prefer your properties to others, resulting your business and income to thrive.
PROJECT MANAGEMENT
Design & Construction
Advertising & Branding
MARKETING & PR
Our development team is focused on delivering tailored solutions to suit the specific needs of tenants or asset owners, managing development projects from inception to completion. Our team of architects and engineers create asset value through the combination of architectural & construction quality and innovation with strong value engineering and risk management expertise.
We collaborate with the best marketing & advertising firms and professionals to produce the most effective marketing campaigns that enhance property values through increased media attention, leasing and sales activity, and eventually top brand awareness. Our service combines marketing, advertising, branding, pr and event management activities which are integral to each other.
meet the exceptional requirements of global investors.
M & A
RE & Construction
Initial Public Offering & SPO
IPO
Companies have always used M&A as a way to increase revenue and market share and gain leverage over competitors. As VESRAM, we treat an acquisition or sale as a project to be completed, assembling a team of resources to identify a target or buyer, conduct due diligence, evaluate financing options, estimate future cash flows and returns, and execute the deal for our clients.
LOAN MONITORING
for Banks & Lenders
VESRAM provides loan-monitoring services that facilitate the flow of information between lenders and developers with accurate, timely analysis and clear concise reporting. During the development & construction period, VESRAM will monitor and manage the construction, sales & leasing and hand-over phases of the project.
DUE DILIGENCE
Technical Financial Legal
The purchase of a business can be done either through an asset sale, or the purchasing of shares in a company or interests in a trust. For any acquisition, due diligence is a critical process that cannot be overlooked. Due diligence is a way to spot potential deal-killers/shapers and provide assurances that the acquisition is the right decision at the right price. VESRAM can help you assemble the right due diligence team and manage the whole process for you.
For fast-growing private companies seeking to raise capital, an IPO can be a superior route to funding growth. IPO candidates must have a compelling story, strong operating performance and balance sheet, steady growth and a good track record. Lack of adequate preparation and poor market timing can jeopardize an IPO. VESRAM provides by far the most comprehensive service for REIT IPOs in Turkey.
FRAUD & FORENSIC
Design & Construction
TENDER MANAGEMENT
for Developers
Fraud and corruption are facts of business life and we can help determine what happened, how much is at risk, who is involved, and what opportunities exist for recovery. When business misconduct is suspected, companies need the expertise of experienced, independent VESRAM professionals who can analyze the facts and magnify the proofs in Real Estate Business
Preparing and participating in Real Estate tenders has been a priority in Turkey. Enthusiastic clients can benefit from the broad experience of VESRAM professionals who previously managed many firms to win tenders of governing organizations.
PRODUCTS
ASSETS
INVESTMENT PRODUCTS & VEHICLES
Properties & Buildings
Title Deeds
Companies
Shares
REITs
Stocks
Loans
Guarantees & Deeds
NPLs
Deeds & Collaterals
Bonds
Guarantees
Funds
Agreements
Rights (development & use)
Collaterals
ASSET TYPES
Commercial & Residential Zoned, Farmland
Land
Residences, Houses, Villas, Social Housing, Summer Homes
Residential
Shopping & Entertainment Centers, Strip Malls, Big Boxes
Retail
CBD Towers, Office Parks
Office
Hotels, Resorts, Serviced Apartments, Time-share
Hospitality
Logistics Centers, Warehouses, Factories, Storage
Industrial
Hospitals, Senior Care, Medical Offices
Health
Universities, Schools, Student Housing
Education
Museums, Sports Facilities, Public Buildings
Public
OUR
STRENGTHS
INTERNATIONAL
EXPERIENCE
ASSESSMENT
& FORECASTING
Working directly for global & local investors
provides us with the skills to identify private &
institutional requirements, understand
investors’ points of views, strategies, tactical
approaches and top objectives for RE
investments.
LOCAL
EXPERTISE
Strong network & understanding of local
market and players such as landowners,
developers, banks, tenants, municipalities,
contractors, service providers, suppliers,
etc…
CONCRETE
EXPERIENCE
Unlike other consultants in Turkey, VESRAM
team has actual concrete experience in
acquisitions, disposals, developments,
financing and property management as well
as IPO and M&A.
In depth analysis and understanding of RE &
financial markets based on statistics and
analyzing tenant-client requirements enable
VESRAM to better forecast the future of the
RE market and trends.
STRATEGIC
ALLIANCE PARTNERS
REAL ESTATE SOLUTIONS
CREATIVE
We have gathered the strongest finance,
M&A marketing & sales, legal, tax advisors
and residential, retail, hospitality and logistics
professionals in order to provide excellent
services to our clients.
Having a total of 60+ years of experience in
Real Estate, VESRAM can easily create
customized and tailored solutions for complex
RE projects, structures or transactions.
CLIENTS
OUR
CLIENTS
SERVED
LOCAL
INTERNATIONAL
We serve a variety of international
clients interested in Turkey.
•
Real Estate Funds
•
Funds of Funds
•
Institutional Real Estate Investors
•
Private Equity Investors
•
International Asset Managers
•
Global Banks
•
Investment Banks
•
Commercial Developers
•
Residential Developers
•
Hospitality Developers
•
PPP Investors
•
Land & Property Owners
•
International Investment Advisors
•
Legal & Tax Advisors
•
Consultants
We serve a variety of local clients
which makes up the real estate chain
in Turkey.
•
Land Owners
•
Property Owners
•
Commercial Developers
•
Residential Developers
•
Hospitality Developers
•
Private Equity Investors
•
National Banks
•
Asset Management Firms
•
Property Management Firms
•
Real Estate Funds
•
Financiers
•
Municipalities
•
PPP Parties
•
Legal & Tax Advisors
CLIENT NAME
PROJECT NAME
SERVICES
Kiler REIT
Referans Bakırkoy Residential Sapphire Tower Mall & Residences Sera Kutahya Shopping Center IPO
Development & Property Mng, IPO
Ulker Group
Starcity Shopping Center MarinTurk
Akasya Residences & Mall
Development & Property Mng
Benson Elliot
Residential Development Budapest, Hotel Portfolio Germany, REIT JV Turkey, Distressed Portfolio CEE
Acquisition & Finance Investment Management Asset Management Torunlar REIT Mall of Istanbul Project Management Corio Tarsus Shopping Center Project Management Redevco Erzurum & Gordion Shopping Centers Project Management Pramerica Skymark Mixed-Use Project Management
Dogus-GE REIT
Dogus Tower Dogus Power Center Evidea Homes
Development & Property Mng
Sales & Marketing HSH Nordbank Palladium Shopping Center Acquisition, DD ING Bank Real Estate M&A & IPO Advisory Corporate Finance Krea Neo Pendik Shopping Mall Project Management BovisLandLease BP & HSBC Head Offices and Branches Project Management Skanska Mixed-Use Development Projects Development Mng Multi Forum Mersin Shopping Center Project Management Mc Donalds Restaurants Retail Expansion Citibank Istanbul Headquarters Project Management Turkcell Research & Development Center Project Management Four Seasons Besiktas & Sultanahmet Hotels Project Management Morgan Stanley Istanbul Office Fit-Out Management Merrill Lynch Istanbul Office Fit-Out Management Bilgili W Hotel Akaretler Project Management
IAA Ben Gurion Airport Project Management
OUR
REFERENCES
EVIDEA HOMES CRYSTALPARK
KIVK RESIDENCES SAPPHIRE
RESIDENCE & MALL
PENDIK MARINA
STARCITY MALL BEN GURION
AIRPORT LOFT CONDOS SERA KUTAHYA MALL AL BARAKA TURK HQ DOGUS POWER CENTER PALLADIUM MALL GORDION MALL
REFERANS BAKIRKÖY W HOTEL TARSU MALL
TURKCELL R&D
MALL OF ISTANBUL
NEO MARIN PENDIK