Unlocking value in complex real estate situations.
The time is now:
We are your entrepreneurial partner for special situations in German real estate. Backed by two decades of execution experience, we drive complex projects from acquisition to site – ensuring upside potential and downside protection in special situations.
Let’s talk.
Lothar Schubert
Managing Partner
intro
Track Record
+1.7
EUR billion project volume from new construction projects and restructuring mandates
+18
Years of market experience: We are regarded as one of Germany’s leading specialists, particularly for high-quality inner-city development projects.
30-300
EUR million in gross development investments: This is our typical range of project volumes we manage. We also offer studies for smaller, early-stage budgets.
12
colleagues from interdisciplinary backgrounds, supported by a network of long-standing and trusted project and financing partners you can count on when it matters most.
MARKET FOCUS
Holistic service development.
For private equity, restructuring consultants and banks.
Situation from the perspective of bank executive managers and restructuring consultants:
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Create options & ensure realistic forbearance
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Reduce risks in investments & loans
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Limit further depreciation
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Avoid fire sales
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Ensure transaction ability
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Meet regulatory requirements
Situation from the perspective of opportunistic investors / special situation funds:
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Opportunities demand speed AND accuracy – more than ever!
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All levers of restructuring must be used: revenues, costs, building law and technical options, etc.
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Ensuring downside protection – especially when reactivating stalled developments or building on existing structures.
BaFin Report 2025
Risks from corrections in the real estate markets
PROJECT EXAMPLES & REFERENCES
"Thanks, that's set up properly now."
Bank customer shortly after the successful launch of a project
Project Examples & Cases
Developing values.
Bring project development back under control:
> Trust structure > Removal of the old project developer from the operational role and standstill with Mezz
> Replacement structure so that the bank does not become the operational developer
> Conclusion: In safe hands: DCD Services is one of several restructuring partners supporting the bank
until the successful completion and exit of this major project> In recent years, banks have often built up stakes in real estate projects,
which could not be continued or started for many reasons.
> At the same time, BaFin has placed tangible assets under special control.
> In this case, DCD recommends a feasibility study so that all restructuring opportunities can be exploited:
Revenues, costs, building regulations and technical levers, etc.
> The objective is to maximize the options for a short- or medium-term sale of a value-enhanced or value-secured investment- Error: empty slot
e.g. asset deal from insolvency or StaRUG;
> DCD enables deal options through its network
> Ideally, the DCD is integrated in the early stages of the DD
> this ensures entrepreneurially secured project success
> Service development with a high proportion of promotion
As our restructuring mandates are subject to strict confidentiality, we showcase selected cases in anonymized format.
SENIOR TEAM DCD SERVICES
When it really matters:
Experience + entrepreneurial responsibility + pragmatism
Where consulting stops, our execution begins.
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DCD Services merges entrepreneurial development expertise with strategic advisory – complemented by capital solutions and transaction execution.
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Our focus: German real estate in special situations.
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Our customers:
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German savings banks, banks, restructuring consultants
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as well as family offices and funds (on the buy side)
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We bridge two worlds: the regulatory and risk frameworks of financial institutions – and the practical realities of development, construction, and permitting. That’s why we’re engaged as a trusted operator: to deliver pragmatic solutions for investment vehicles or loan exposures held by savings and cooperative banks.
We also secure value for family offices and private equity firms – in complex value-add acquisitions, recapitalizations, and special situations. This dual capability makes us a fast, hands-on partner in market environments where confidence, speed, and technical insight matter most.
DCD Services originates from DC Developments, part of the Hamburg-based Dahler & Company Group. With a long-standing track record in high-quality urban developments, we are among Germany’s leading real estate platforms – combining sustainability, urban impact, and long-term value creation.
OUR PRINCIPLES
In safe hands.
2. Partnership
as a basic principle
Whether on the construction site, with owners and financing partners, or in dialogue with the municipality: not only assets, but especially the people involved have long periods of stress behind them in special situations.
We bring calmness, experience, strategic clarity, new options, and a collaborative process. Because every special situation is always a mix of factual and interpersonal challenges.
3. Holistic Service Development
as a co-entrepreneur!
From planning, marketing, calculation, project and asset management, we offer the entire range of services of an experienced project developer – across all asset classes (except logistics and data centers).
We always work with our customers on an individually agreed mix of a monthly fee and a promotion.
