This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings
  1. KudoZ™ Top
  2. German to English
  3. Law: Contract(s)

Objektgesellschaften

English translation: real estate companies

15:09 Jan 16, 2006
German to English translations [PRO]
Law/Patents - Law: Contract(s) / partnership agreement
German term or phrase: Objektgesellschaften
I know there is a previous proz discussion on this term. What I am trying to establish is whether it is clear from this text (see below: from a partnership agreement for a GmbH und Co. KG) that the company will itself create the Objektgesellschaften as "special purpose vehicles" or will invest in existing property companies based in the US.
"Gegenstand des Unternehmens ist der Erwerb von in den USA gelegenen Immobilien, deren Verwaltung, Vermietung, Verpachtung und Veräußerung sowie die Beteiligung an Gesellschaften mit Sitz in den USA, die einen gleichartigen Unternehmensgegenstand haben (im Folgenden: Objektgesellschaften)."
algy
United Kingdom
Local time: 00:06
English translation:real estate companies
Explanation:
I think it is clear from the text that the company will invest in US real estate with the intent to manage, lease, and sell it AND make equity investments in OTHER real estate companies domiciled in the US. I don't see SPE (special purpose entities) here at all.

But hey, I haven't had my coffee yet and I was wrong once in my life. :-)

--------------------------------------------------
Note added at 1 hr 39 mins (2006-01-16 16:49:47 GMT)
--------------------------------------------------

I still don't see that they must necessarily be SPEs. SPEs are (by definition) an entity FORMED soley to accomplish some special business purpose. All I see is that the Company intends to INVEST in companies that deal in "Objekten", i.e. real estate. These companies already exist and are merely investment targets.
Selected response from:

Ted Wozniak
United States
Local time: 18:06
Grading comment
Thanks, Ted. The US limited partnership companies were in fact specifically created for this purpose and wound up on later disposal of the property, so I did plump for SPE in the end. Sorry, the context was not available at the time of asking. Two points well deserved for answering before that morning coffee.
2 KudoZ points were awarded for this answer



Summary of answers provided
4 +2real estate companies
Ted Wozniak


Discussion entries: 1





  

Answers


15 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
real estate companies


Explanation:
I think it is clear from the text that the company will invest in US real estate with the intent to manage, lease, and sell it AND make equity investments in OTHER real estate companies domiciled in the US. I don't see SPE (special purpose entities) here at all.

But hey, I haven't had my coffee yet and I was wrong once in my life. :-)

--------------------------------------------------
Note added at 1 hr 39 mins (2006-01-16 16:49:47 GMT)
--------------------------------------------------

I still don't see that they must necessarily be SPEs. SPEs are (by definition) an entity FORMED soley to accomplish some special business purpose. All I see is that the Company intends to INVEST in companies that deal in "Objekten", i.e. real estate. These companies already exist and are merely investment targets.

Ted Wozniak
United States
Local time: 18:06
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 114
Grading comment
Thanks, Ted. The US limited partnership companies were in fact specifically created for this purpose and wound up on later disposal of the property, so I did plump for SPE in the end. Sorry, the context was not available at the time of asking. Two points well deserved for answering before that morning coffee.

Peer comments on this answer (and responses from the answerer)
agree  Alison Schwitzgebel: Also with your comment regarding SPEs (or SPVs). I'd read it as real estate companies
1 hr
agree  Steffen Walter: Agree all along the way - I wouldn't SPEs/SPVs here.
17 hrs
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

Return to KudoZ list

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

See also:
ProZ.com term search
Search millions of term translations
Close search
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search