A2X
From acquisition to exit

A special situations investor in European private real estate.

We take on ownership structures that have run past their plan. We acquire the governance, manage the assets ourselves, and carry each one to an exit.

Practice

Recapitalisation

We take over structures that have outlived their original plan, reset the capital stack to a value a buyer will stand behind, and fund the way forward. The lender's position is repaired in the same move.

Management

We run what we own. Leasing, capital works, planning, the day to day of a building. The incumbent's contract is acquired at a disclosed price, so the handover is orderly.

Exit

Every asset is bought with a route out already drawn. We hold to that route, and we stay in alongside the capital that stays in.

Discipline

We act as principals.

A2X invests its own money in every transaction it manages. That shapes how we underwrite.

  • Debt is sized against what an asset is worth today.
  • Exits are underwritten at today's yields. Anything better is upside.
  • Prices we pay, and prices we pay ourselves, are disclosed to the people whose capital is in the deal.
  • One team acquires, manages and exits. The person who bought it is the person who runs it.
Focus
Sectors
Residential
Logistics
Jurisdictions
Switzerland
United Kingdom
Offices
Geneva
London
Contact

Talk to us.

We are glad to hear from owners, lenders, managers and advisers with a situation that needs solving.

Co-founder
Wilhelm Dahl
wilhelm.dahl@a2xre.com