Cologne – Luther Rechtsanwaltsgesellschaft has set up a clearing office in response to current uncertainties in commercial tenancies. The goal is to find quick and fair solutions for both parties which take into account the successful continuation of business - also after the pandemic.
Especially restaurants, shops and hotels suffer from the restrictions on public life, many business operations have come to a standstill or are severely restricted due to coronavirus. Luther Rechtsanwalts-gesellschaft has established a clearing office for commercial tenancies in order to find fair and legally valid solutions for tenants and landlords in this situation. Existing contracts are examined and evaluated by a team of real estate experts, so that constructive and practicable compensation arrangements can be developed in the interest of all parties. Luther has been able to engage the services of Engel & Völkers Investment Consulting (EVIC) to support Luther’s team of experts in real estate consulting issues.
In addition to deferrals and reductions in rent, there are many other possible measures that can be combined smartly. An important factor is to make the parties aware of these possibilities and then document the result in a formal supplement. In addition to accompanying the necessary talks and negotiations, the clearing office is also able to carry out a partially automated process for large portfolios to take some of the organisational load off the parties.
"The clearing office offers fast, fair and comprehensive solutions to tenants and landlords, both for individual properties and for large portfolios. It is important to us to provide the parties with the best possible support in order for them to quickly regain their ability to act and, ideally, not only secure their contracts but optimise them," said Thomas Gohrke, lawyer and partner at Luther and an ex-pert in real estate matters. "Consensus, speed and experience can be the decisive success fac-tors here. We are already in the process of examining hundreds of leases".
Andreas Ewald, Managing Partner at EVIC, added: "Based on our expertise in all asset classes, such as retail, office, industrial and hotel, combined with our regional real estate competence, we can identify economic necessities and provide commercial support in developing and implement-ing a fair solution".
Information about the Luther clearing office can be found at https://www.luther-lawfirm.com/kompetenzen/beratungsfelder/detail/clearing-stelle