Excellence in technical advice to professional real estate investors

TREEX DNA

Independence  |  Excellence  |  Innovation

In all situations, we are able to undertake discussions with the architects, the contractors and the study bureaux, just as we are with those in charge of the financial and legal aspects and who are involved in the analysis and execution of the investment. The report that we present to our investor client is drawn up in as simple terms as possible so that it can be understood by those with limited technical knowledge. The technical observations are set out alongside a risk analysis, a remedial proposition, a financial evaluation and a works schedule.

Treex is an independent consultancy bureau specialising in undertaking technical audits of buildings both in terms of their construction and of their technical installations. Technical due diligence are principally carried out on behalf of investors considering the sale, conservation or acquisition of a real estate asset, which may be of any type: offices, residential, retail, warehousing, hotel… We advise local and international investors: large landlords, investment funds, banks and insurance companies. 

Treex is active in Belgium and Luxembourg. Our extensive knowledge and long experience of these markets enables us to easily benchmark the building being audited with market standards. 

Following a physical audit of the condition of a building, we propose solutions for bringing it into line with accepted norms and market standards in order to remedy problems observed. These recommendations take the objectives of the client into account, whether they be in terms of the ROI or of the occupation of the building, and which would require an investment plan. We pay a great deal of attention to the destination of the building if it is to change in function or, for example, is to be partitioned into several distinct units.

During an audit we identify and evaluate in detail the cost of the works recommended, ensuring that this is realistic in view of the acquisition price for the building, and we distinguish between those works which are indispensable and priority, and those which are secondary in importance. We establish a time schedule for the investments in view of the state of dilapidation of the building and of its equipment. 

Afer an audit, Treex can implement and manage the work project which the investor has decided to undertake. We are able to act as delegated project manager and coordinate the various companies taking part in the renovation works. 

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Our solutions

Technical Due Diligence

Project Management

OBSERVATIONS

The audit reports we draw up include a general description of the building and of its condition at the time of carrying out the audit. Depending on individual cases and on necessity, our auditors will examine all or some of these elements:  facades; roofing, terraces and guttering; basements; fire safety; health and safety of occupants; elevators; HVAC, .... Inspection of equipment is done ataking into account the maintenance which has been carried out, the technological evolutions and legislations in force.

IMPLEMENTATION 

Following technical audit, Treex can implement and manage the work project. This implies an in-depth analysis of the project including the legal constraints –in particular those involving urban planning – and those allied to the environment. We are able to coordinate those studies still to be carried out in order that the project can be put into work. These recommendations take the objectives of the client into account, whether they be in terms of the ROI or of the occupation of the building.

We act as project manager representative of the owner and take charge of internal coordination with the project team and external coordination with the various companies taking part in the project (demolition, construction, renovation, rehabilitation,... ). We also ensure the coordination of those studies still to be carried out in order that the project can be put into work.

Depending on individual cases and on the requests of our client, our project management will include the drawing up of a provisional time schedule and budget and the management of these during the works. We can take charge of drawing up the specification in order to undertake the necessary calls for tender and then to select the various companies to be part of the project realisation. 

RECOMMENDATIONS

The observations are accompanied by numerous photos taken on site during the inspection. We also make recommendations relative to cleansing and maintenance works, to modernisation and renovation which, in the light of our analysis, may be needed in the medium and long terms. Certain of these recommendations may involve carrying out works which will increase the value of the building for the investor. For example in terms of respect of environmental concerns.

REPORTING

Once the renovation project is underway and during the whole of its execution, we take part in onsite meetings in order to check that the works are being carried out correctly. Regular reports are submitted to the client with proposals for any arbitration required in order that the schedule and the budget are adhered to.  We can also take charge of verifying and approving invoices submitted to the client by service and other suppliers.

In the news

Treex assists Patrizia AG for its new residential complex acquisition

Patrizia AG has completed the takeover of the Green Life project from Belgian real estate developer Matexi. Treex was first mandated to carry out a Technical Due Diligence prior to the acquisition and after the company represented Patrizia AG during the follow up of the last phases of the construction works. Read more >>

Major sale and leaseback deal for Savills IM

Savills Investment Management concluded a sale & leaseback deal for an iconic office building in Brussels North district. Savills acquired the property on behalf of a foreign investor from AXA and the current tenant of the building, Euroclear, for approximately 173 million Euros. Read more >>

Crystal Park exits AG Real Estate assets portfolio

At the end of 2020, AG Real Estate sold to Sogecap the shares it owned in the property Crystal Park in Luxembourg. Treex was mandated by the buyer to perform a Technical Due Diligence of the building, a 30,000 m2 office complex built-to-suit for PwC to host around 2,450 of its workers. Read more >>
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