Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
Overlooking corporate real estate can put merger and divestiture deal value at risk
Corporate Real Estate Journal,
9
(4),
299-316
(2020)
Abstract
This paper is authored by lifelong corporate real estate (CRE) advisers who have spent years involved in major corporate transactions including mergers and acquisitions (M&A) and divestitures. The paper explores the basics of M&A and divestitures and why real estate is a crucial variable but often overlooked. The paper explores why many investment bankers, corporate development departments and transaction advisers ignore real estate and what it takes to get it on their agenda. It also shares the process and tools for real estate verticals within a deal. Real estate can drive significant value during M&A and divestitures but neglecting it during the deal process can put that value at risk.
Keywords: M&A; mergers; divestitures; portfolio strategy; transactions; optimisation
The full article is available to subscribers to the journal.
Author's Biography
Douglas Gottschalk is the US leader of Ernst & Young LLP’s Corporate Real Estate practice within Transaction Advisory Services. He provides guidance to clients through real estate portfolio optimisation and CRE operating model optimisation. During Doug’s 20-year career, he has helped clients achieve value during mergers and divestitures and corporate transformations.
Michael Golichowski is a senior manager in Ernst & Young LLP’s Corporate Real Estate practice within Transaction Advisory Services. He provides guidance to clients through mergers and acquisitions (M&A)/divestitures, portfolio optimisation and operating model transformation. During Michael’s career, he has helped CRE leaders, buyers and sellers, owners and investors achieve synergies and avoid dis-synergies during transformations and M&A/divestiture events.
Eva Heddergott is a manager in Ernst & Young LLP’s Corporate Real Estate practice within Transaction Advisory Services. She focuses on providing clients with guidance regarding real estate strategy, organisational design and process improvement for CRE departments, site separation planning and real estate portfolio optimisation. During her career, Eva has helped CRE leaders during mergers and acquisitions (M&A)/divestiture events to plan for and execute on a successful transition, avoiding business disruption and creating value.
