Real Estate Consulting
Real Estate Consulting
BTG Global Advisory specialises in the stabilisation and turnaround of underperforming real estate properties. It is our mission to mitigate the effects of a detrimental event that disrupts income generation and threatens property valuation.
Our experienced real estate advisors act quickly when stabilising a troubled property. We identify the most critical issues and develop a list of priorities that must be addressed immediately. These actions halt the downward performance trend and protect the underlying value of the property.
Once we have stabilised a property we transition to the turnaround phase. We prepare a long-term asset management plan to improve performance and enhance future value. If the asset is a short-term hold, we help clients dispose of assets, identify the best brokers in the market, and work hand in hand with the brokers through the sales process and close.
Throughout the stabilisation and turnaround process we communicate regularly with owners and investors. We prepare timely reports that clearly define the critical issues and describe the available remedies. We develop precise recommendations for improving performance and we act quickly to implement appropriate actions.
Our comprehensive approach to turnaround and stabilisation includes all the steps required to organise, manage, protect and improve daily operations, including the following activities.
Our expertise includes the following:
- Property Management & Receivership related services
- Court Appointed Fiduciary
- Distressed Property Management
- Stabilisation and Turnaround
- Construction ManagementFinancial Advisory Services
- Financial Advisory Services
- Borrower & Lender Advisory
- Principal Investments and Financings
- Strategic Workout and Restructurings
- Liquidations and Loan Sales
Related Case Studies
Manufacturing and Engineering
MBL Akustikgeräte GmbH & Co. KG.: Investor solution
MBL Akustikgeräte has been producing audio devices of uncompromising quality for decades. It manufactures all loudspeakers and electronics at its own production facility near Berlin. MBL’s Radialstrahler loudspeakers have an outstanding reputation among audiophiles and music aficionados worldwide. The company is a leading brand in high-end audio. The business filed for insolvency due to liquidity problems. PLUTA restructuring expert Mr Frank Brachwitz was appointed insolvency administrator.
The business remained fully operational after filing for insolvency, and a structured M&A process was initiated. Attorney Mr Frank Brachwitz worked with MBL management to search for an investor for the company. This process was conducted with an international focus, and Mr Brachwitz was able to bring it to a successful conclusion following detailed contractual negotiations.
The insolvency administrator achieved a solution four months after the proceedings had been opened. MBL’s operations were sold to Chow Tai Seng, a Chinese luxury goods group, by way of an asset deal. The Berlin location and the Eberswalde production facility have been maintained. All 50 or so employees have been kept on by the new owner. The creditors can expect a 100% recovery rate.
Manufacturing and Engineering
Lilium GmbH and Lilium Aerospace GmbH: Selling Patent Portfolio
Founded near Munich in 2015, Lilium was developing an electric vertical take-off and landing (eVTOL) aircraft – the Lilium Jet. The start-up company went public on the US technology exchange NASDAQ in 2021. It had around 1,200 employees working on production setup and battery technologies. Overall, it invested some 1.5 billion euros in bringing the aircraft to market, but ran into financial difficulties. Lilium had to file for insolvency in 2024. Mr Ivo-Meinert Willrodt from PLUTA is the insolvency administrator for Lilium GmbH and Lilium Aerospace GmbH. These were involved in self-administration insolvency proceedings from October 2024 and then in regular insolvency proceedings since March 2025 after the sale of the company had fallen through. Mr Wolfgang Bernhardt is insolvency administrator for the holding company Lilium N.V.
The German electric aviation pioneer owned the intellectual property rights. Lilium’s patent portfolio included over 300 patents covering innovations in high-voltage systems, battery management, advanced aircraft design, flight controls, electric engines, propellers and ducted fans for eVTOL aircraft. Mr Ivo-Meinert Willrodt conducted a complex bidding process for the sale of the patent portfolio as part of the insolvency proceedings.
Insolvency administrator Mr Ivo-Meinert Willrodt sold the patents and registered intellectual property rights to Archer Aviation, a US-listed company. The purchase price is in the low to mid double-digit million euro range. After lengthy negotiations in a complex transaction process, Archer prevailed in the bidding. The sale to Archer offers the highest level of transaction and execution certainty. The creditors will also benefit from this outcome.
Manufacturing and Engineering
MBL Akustikgeräte GmbH & Co. KG.: Investor solution
MBL Akustikgeräte has been producing audio devices of uncompromising quality for decades. It manufactures all loudspeakers and electronics at its own production facility near Berlin. MBL’s Radialstrahler loudspeakers have an outstanding reputation among audiophiles and music aficionados worldwide. The company is a leading brand in high-end audio. The business filed for insolvency due to liquidity problems. PLUTA restructuring expert Mr Frank Brachwitz was appointed insolvency administrator.
The business remained fully operational after filing for insolvency, and a structured M&A process was initiated. Attorney Mr Frank Brachwitz worked with MBL management to search for an investor for the company. This process was conducted with an international focus, and Mr Brachwitz was able to bring it to a successful conclusion following detailed contractual negotiations.
The insolvency administrator achieved a solution four months after the proceedings had been opened. MBL’s operations were sold to Chow Tai Seng, a Chinese luxury goods group, by way of an asset deal. The Berlin location and the Eberswalde production facility have been maintained. All 50 or so employees have been kept on by the new owner. The creditors can expect a 100% recovery rate.
Aviation
Lilium GmbH and Lilium Aerospace GmbH: Selling Patent Portfolio
Founded near Munich in 2015, Lilium was developing an electric vertical take-off and landing (eVTOL) aircraft – the Lilium Jet. The start-up company went public on the US technology exchange NASDAQ in 2021. It had around 1,200 employees working on production setup and battery technologies. Overall, it invested some 1.5 billion euros in bringing the aircraft to market, but ran into financial difficulties. Lilium had to file for insolvency in 2024. Mr Ivo-Meinert Willrodt from PLUTA is the insolvency administrator for Lilium GmbH and Lilium Aerospace GmbH. These were involved in self-administration insolvency proceedings from October 2024 and then in regular insolvency proceedings since March 2025 after the sale of the company had fallen through. Mr Wolfgang Bernhardt is insolvency administrator for the holding company Lilium N.V.
The German electric aviation pioneer owned the intellectual property rights. Lilium’s patent portfolio included over 300 patents covering innovations in high-voltage systems, battery management, advanced aircraft design, flight controls, electric engines, propellers and ducted fans for eVTOL aircraft. Mr Ivo-Meinert Willrodt conducted a complex bidding process for the sale of the patent portfolio as part of the insolvency proceedings.
Insolvency administrator Mr Ivo-Meinert Willrodt sold the patents and registered intellectual property rights to Archer Aviation, a US-listed company. The purchase price is in the low to mid double-digit million euro range. After lengthy negotiations in a complex transaction process, Archer prevailed in the bidding. The sale to Archer offers the highest level of transaction and execution certainty. The creditors will also benefit from this outcome.
Latest News
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PLUTA attorney Florian Zistler ensures continued operation of Aalen hotel – follow-up solution agreed with PIAZZA
Mr Zistler and his PLUTA team have kept the hotel (with a total of 29 employees) fully operational since the company filed for insolvency in January 2025 and achieved solid business growth in that time. All jobs have now been saved with the agreement reached. Existing bookings also remain valid.
Bayreuth firm Communicall files for insolvency – PLUTA attorney Peter Roeger ensures continuation of operations
Communicall GmbH has filed for insolvency with the Local Court of Bayreuth, as the competent court. On 22 January 2026, the court then ordered provisional insolvency administration and appointed attorney Mr Peter Roeger from PLUTA Rechtsanwalts GmbH as provisional administrator.
Funke foundry creditors approve insolvency plan from PLUTA attorney Ingo Thurm
Insolvency administrator Mr Ingo Thurm from PLUTA Rechtsanwalts GmbH has announced welcome news: the future of Metallgießerei Wilhelm Funke GmbH & Co. KG based in Alfeld has been secured. Creditors unanimously approved the presented insolvency plan at today’s voting meeting.
Vynova Wilhelmshaven continuing to operate – PLUTA restructuring expert Dr Christian Kaufmann conducting process of finding investor
Insolvency administrator Mr Ingo Thurm from PLUTA Rechtsanwalts GmbH has announced welcome news: the future of Metallgießerei Wilhelm Funke GmbH & Co. KG based in Alfeld has been secured. Creditors unanimously approved the presented insolvency plan at today’s voting meeting.
The creditors’ approval of the insolvency plan is both legally and financially significant. Following court confirmation of the plan, it will be possible to terminate the insolvency proceedings in the near future. This provides the company with legal certainty, clear structures and the basis it needs to continue operating in the long term outside of the insolvency proceedings.