Akademik Veri Yönetim Sistemi
CIRRE 2022, Ankara, Türkiye, 14 Ekim 2022, ss.58-59
The management of real estate, and intangible assets
of public and private enterprises and even households is of special importance
in today's conditions where risks and uncertainties are widespread. Asset
management activities include the acquisition, use, maintenance, operation and disposal
of assets. In recent years, it has been observed that public institutions,
especially financial institutions, and private enterprises have a significant
amount of real estate, but they have not been able to realize corporate real
estate management practices and structuring. In fact, it is known that many
public institutions do not have an inventory of real estate assets, the current
values and usage status of assets cannot be monitored, and naturally, the
existing real estate assets are not integrated into the economy. It is observed
that there are asset management businesses in Turkey that only provide limited
services to financial institutions. The needs of real and private law legal
entities for asset management businesses are tried to be met by individuals and
institutions that are not experts in this field, and the results of the studies
are clearly unsatisfactory. Under the provisions of Banking Law No. 5411 dated
2005, banks should be able to collect their loans and receivables in the executive
proceeding process either through an agreement with the debtor or through
foreclosure according to the provisions of the Enforcement and Bankruptcy Law
No. 2004. The inability to collect bank loans and other receivables adversely
affects the balance sheets of banks, and the transaction costs of banks
increase as the collection period of such receivables is prolonged. In such
cases, it has been identified that banks transfer their receivables with low or
no collection ability to Asset Management Companies through tenders, and these
companies offer various services such as taking over and executive proceedings of
receivables, restructuring and consulting services to debtor companies, and
fulfilling the functions of management and development of the taken over
assets. Asset Management Companies, which started their operations with the
permission of the Banking Regulation and Supervision Agency, are required to
examine the current and fixed assets of debtors and focus on the collection of
receivables. However, it is noteworthy that it is a necessity for asset
management companies to employ experts in the real estate market for success,
as debtors tend to attempt to transfer their assets to others and smuggle
property before executive proceedings. In addition, it is observed that debtors
need consultancy, corporate asset management and debt restructuring services
from asset management companies before executive proceedings. In conclusion, it
should be emphasized that asset management in public and private institutions,
and especially real estate asset management, should be restructured and asset
management expertise should be defined.
Keywords: Asset
management, indebtedness and non-performing loans, asset management businesses,
real estate asset management and asset management specialization.