Data Room Services Supports Dresdner Bank on Sale of its Real Estate Portfolio Worth over Two Billion Euros

February 1, 2006 - Data Room Services, an international service provider specialised in the execution of physical and digital data rooms in M&A transactions, real estate and nonperforming loan portfolios sales, has very successfully supported Dresdner Bank in the sale of its real estate portfolio. DRS's Digital Data Room as well as a tailor-made Q&A Management Platform served to substantially enhance the execution speed of the Dresdner Bank transaction. The DRS Digital Data Room enabled bidders to conduct a detailed analysis of the units up for sale.
The bank's portfolio, which consisted of approximately 300 units, was sold in a bidding process in less than six weeks. The transaction closed in this record time thanks to DRS's very user-friendly Digital Data Room product and the simultaneous access to the digital bidder site by more than 300 users. The customized Q&A Management Platform met Dresdner Bank's special requirements for the transaction and assisted the transaction team in coordinating and answering over thousands of questions. The project management team was able to track all Q&As in the process due to detailed status reports and a final clearing. The DRS Q&A Management Platform tool allowed the participants to send the questions automatically to the responsible contacts of certain groups or allocate questions to a special topic or index point, thereby, accelerating the Q&A process significantly. Ultimately, Fortress was chosen on the 21st December 2005 as the winning bidder on its offer of over two billion Euros for Dresdner's real estate portfolio.
This is not the first time Dresdner Bank has collaborated with DRS in an auction process. Data Room Services has repeatedly supported Dresdner Bank in various sell-side transactions in the past, most recently in Dresdner Bank's sale of its nonperforming loan portfolio.