History
The beginning (2000)
The Whitestone Group was founded in the year 2000 by successful real estate management Norbert Galfusz, Balázs Györke, and a strategic partner with a location in Budapest. By 2013, the group concentrated on the business activities of development and financing of commercial real estate such as offices, warehouses, industrial parks, and shopping centers followed by housing complexes in Budapest, Vienna, and Trogir.
Move to Austria (2013)
With the founding of Whitestone Investment Advisory Ltd. with a location in Vienna, the founders directed their attention to the local real estate market. The new company concentrated exclusively on project development of housing complexes in Vienna and surroundings and has implemented several projects so far. Whitestone Investment Advisory’s orientation provides that purchasers of flats—whether for their own personal use or as an investment—be offered properties with the best value for the money.
Start in Croatia (2019)
After strengthening the operation in Austria, in 2019 WS opened its office in Croatia. The focus is developping premium beach front seconary homes in the beautiful costal line of Croatia. The first project will be under constrcuction in Q1 2021.
Activities
Investment Consulting
Our services, which are based on a clear understanding of the requirements involved and which provide the implementation of a particular investment strategy, focus primarily on the preparation of our clients investment decisions and finally on the transactions themselves.
Our strength lies in sophisticated property transactions involving e.g. the purchase of income-producing commercial property combined with partial re- and / or new development at the same location or sale and lease-back transactions.
Development
Development Proposals
Together with our project managers and in-house Project Team of architects, an optimum development proposal is elaborated, which not only outlines the future potential of the property as well as the project schedule but is also able to obtain planning approval from all authorities involved through preliminary negotiations with the latter, thereby providing a solid basis for investors decisions.
Building Site Preparation
The Project Team, together with locally hired architects and expert planners, draft the application for the modification of zoning plans where necessary, and subsequently the application for the preliminary and / or final building permit is filed with the authorities.
Project Management
After calling for tender, the Project Team selects the most competitive contractors and subsequently supervises all parties involved in the project, in order to achieve or exceed the goals of the project schedule up to acceptance of the building from the contractors.
Marketing & Letting Coordination
The Project Team outsources marketing, creative and letting / sales services after a tender process. Subsequently marketing and letting strategies are defined with these experts. Throughout the development and construction process the Project Team coordinates and manages all marketing, creative and letting/sales activities in order to achieve optimum rents / sales prices.
Property and Asset Management
Our goal here is the optimisation of the property performance.
Asset management services include:
- Management of special purpose property holding companies
- Financial management
- Facility management
- Tenant relations/letting management
- Exit management / agency activity