Real Estate Asset Management for family offices, holdings, and institutional investors starting from €10 million Portfolio volume. Strategic portfolio management, tax structuring (§ 9 No. 1 Sentence 2 GewStG, RETT blocker), transaction support — fully integrated into your holding and tax structure.
Institutional real estate investors, family offices, and holdings do not think in square meters, but in returns, risk profiles, and tax efficiency. TABAK Consulting delivers exactly that — strategic portfolio management, structuring, and transaction support, fully integrated into your holding and tax landscape.
We do not work in a traditional management manner. Our mandate begins where owners must make strategic decisions: What structuring minimizes the real estate transfer tax burden on the next acquisition? How do you fully utilize § 9 No. 1 Sentence 2 GewStG? What holding level is optimal for the planned exit?
We consciously offer operational property management, WEG management, and rental management not For this, we recommend specialized administrative service providers from our network. Our focus: everything that needs to be designed in terms of taxation, strategy, and transactions.
Institutional real estate assets require continuous strategic management — what is retained, what is disposed of, what is repositioned? TABAK provides the analysis and structural decision — and coordinates implementation through its own holding and tax team as well as curated administrative partners.
Property-by-property analysis based on risk-adjusted yield, tax efficiency, structural complexity — basis for decisions to hold/reposition/dispose.
Identification of suitable targets in the off-market sector, structuring the acquisition (asset deal vs. share deal), vendor due diligence support.
Preparation for sale with tax-optimal structuring, utilizing § 8b KStG privileges, vendor due diligence, discreet buyer identification.
Modernization ROI analysis, ESG compliance, repurposing concepts (e.g. Office → Residential), value enhancement roadmap with tax effects.
Location, market, and price analyses of top German locations as well as selected EU markets. Data-driven investment recommendations.
Multi-object dashboard for the entire portfolio: cash flow, NAV, tax metrics, holding consolidation — monthly or quarterly depending on client preference.
Real estate transactions are not decided at the notary's table — but in the structuring phase beforehand. TABAK accompanies buy and sell-side mandates from strategy through due diligence to closing — with the decisive advantage of a tax-integrated setup.
Target identification, pre-deal structuring, comprehensive due diligence (legal, tax, construction), negotiation support, and closing coordination.
Preparation for sale with vendor due diligence, tax-optimized sales structure (share deal vs. asset deal), buyer outreach, and negotiation.
Transfer of real estate property companies instead of the properties themselves — optimizing property transfer tax within the legal framework (§ 1 Abs. 2a/3/3a GrEStG).
Clean structuring through minority interests (90% threshold) to avoid property transfer tax liable share transfers — legally documented.
Comprehensive examination in conjunction with curated partner lawyers and technical experts. Risk inventory with price relevance.
Notary support, transfer of lease agreements / management mandates, integration into existing holding structure, reporting attachment from day 1.
Those who hold real estate in private assets pay too much tax – and sleep worse. The GmbH structure protects private wealth, reduces tax burden, and makes exit scenarios predictable.
A real estate holding company holds shares in several property GmbHs. Each property GmbH manages one or more real estate assets. The holding receives dividends from the property GmbHs – 95% exempt from corporate tax (§ 8b KStG).
When selling a property, either the property itself (asset deal) or the shares in the property GmbH (share deal) can be sold. The share deal allows the buyer to optimize property transfer tax – often enabling higher purchase prices.
TABAK supports the contribution of real estate into GmbH structures, coordination with the tax office (binding information), documentation of arm's length compliance, and ongoing tax support for the property GmbH.
Dividends from property GmbH → Holding: 95% tax-free (§ 8b KStG)
Tax errors in real estate can be costly and permanent. A poorly planned sale, forgotten depreciation deductions, or missed property transfer tax optimization can quickly add up to six-figure amounts. TABAK positions all levers – before they are lost.
Linear depreciation (2% p.a.) vs. monument depreciation (§ 7i: up to 9% p.a.) vs. increased deduction according to § 7b EStG. TABAK maximizes the depreciation potential of each property.
§ 1 Abs. 3 GrEStG optimization when acquiring shares in companies – up to complete exemption from property transfer tax in intra-group restructurings.
10-year period § 23 EStG, § 6b EStG reinvestment reserve, asset deal vs. share deal – a tax-optimal exit requires at least 2 years of lead time.
§ 9 UStG: The option for VAT liability for commercial properties allows for input tax deduction on acquisition and renovation costs. Crucial for larger properties.
Family assets from third countries, family offices from the EU abroad, and institutional investors use Germany as a stable real estate market. TABAK structures the entry — legally secure, tax-optimal, confidential.
Holding GmbH, special AIF, German partnership or direct investment — structured according to investor origin, tax profile, and exit horizon.
Utilization of German double taxation agreements for reduced withholding taxes on rental income, capital gains, and dividends — with substance-based compliance.
Establishment of genuine economic substance for the German investment company — documented against income attribution taxation and BEPS compliance.
GwG-compliant client identification, transparency register entry, source evidence — at an institutional level.
Coordinated structures across the DACH region and selected EU locations (NL, LU, AT, CH) — with vetted law and tax partner firms.
Complete mandate structure under NDA. Discreet communication, staggered information, separate data rooms — at family office level.
In institutional portfolios, it is not about rents or service charges — but about structure, taxes, and timing. Those who optimize here can gain seven-figure amounts. Those who ignore it forfeit them.
The § 9 No. 1 S. 2 GewStG privilege reduces the tax burden on rental income to practically corporate tax level (15% instead of 30%). Requirement: exclusively asset management activity — cleanly structured, without harmful activities.
When acquiring through share deals (90% threshold according to § 1 para. 2a/3 GrEStG), property transfer tax can be structured securely. With 50 million transactions this means a 6.5% saving — 3.25 million € per deal.
Selling the shares of the property GmbH instead of the property itself: 95% of the capital gains are exempt from corporate tax. In the case of a 10 million capital gain this means approximately 2.8 million € more net proceeds.
Family offices, institutional investors, and banks require consolidated reports across all property GmbHs: NAV, cash-on-cash yield, IRR, pre-tax/post-tax returns. We deliver at the push of a button — in the format required by the recipient.
For operationally shaped real estate portfolios, the 85% or 100% exemption. Condition: correct structuring as business assets. We build the structure in advance so that generational change does not cost 30% inheritance tax.
International investors must demonstrate genuine economic substance since ATAD/BEPS. We establish the German holding structure in compliance with substance — protected against controlled foreign corporation taxation and optimized for withholding tax.
For portfolios starting from 10 million €: At this scale, it is not the management fee that determines the return, but the tax structure and the transaction architecture. This is where our focus lies — a single optimized share deal model amortizes the mandate over decades.
Fee structure based on effort and strategic volume. Fixed-price packages for defined mandate types, retainer models for ongoing portfolio management.
One-time initial analysis of your portfolio
Ongoing strategic portfolio management
Buy-Side / Sell-Side · Individual mandate
All fees net plus VAT. Minimum mandate volume: portfolios from €10 million or individual transactions from €5 million. Classic property management / WEG management is not offered — if needed, we are happy to refer from our network of management partners.
We support real estate mandates starting from approximately €10 million portfolio volume or individual transactions from €5 million. For smaller assets, the structuring effort is rarely worthwhile — and our value creation lies not in volume business, but in structural quality. Family offices and institutional investors are our core target group.
No — intentionally not. Our mandate begins where structural, tax, and transaction-related decisions are made. We are happy to refer operational property management or WEG management from our curated network of specialized management partners. This way, everyone remains focused on their core competencies.
For institutional assets, almost always yes. The combination of § 9 No. 1 S. 2 GewStG (extended deduction), § 8b KStG (95% tax-free disposals) and GrESt optimization in the share deal surpasses private assets at any serious scale. However, the contribution itself is tax-sensitive — it must be structured properly to avoid triggering the disclosure of hidden reserves.
When acquiring shares in the object GmbH (instead of the property itself), no real estate transfer tax (GrESt) is generally incurred — as long as no more than 90% of the shares are consolidated in one hand (§ 1 Abs. 2a/3 GrEStG). RETT blocker structures with minority stakes effectively resolve this issue. In the case of internal corporate restructurings, § 6a GrEStG may apply. We structure every transaction accordingly from the outset.
Complete mandate under NDA. § 203 StGB confidentiality for all professionals. Separate data rooms for sensitive transactions, staggered information within the team, discreet communication channels — this is standard for family office and institutional mandates, not an exception.
Talk to us about your real estate portfolio – without obligation, confidentially, directly. We will show you what can be improved.
