The German affiliate of the British investor Treveria, Treveria Asset Management GmbH based in Frankfurt am Main, has commissioned IC Property Management GmbH, a group company of IC Immobilien Gruppe, to take over the management of its German real estate portfolio comprising 370 properties from December 1, 2011.
The retail properties, which have a combined rental space of approximately 1 million m², are predominantly located in medium-sized towns in the west of Germany. The overall value of the properties, the majority of which are found in high-street locations, is currently estimated to be around 1.4 billion.
This move shall pave the way to a close collaboration, as only "cooperation which is both coordinated and shaped by mutual trust allows the challenges faced in the asset and property management of such a portfolio to be tackled", explains Dr Bernhard Fuhrmann, CEO of Treveria Asset Management GmbH.
"The closer the alignment between asset and property management, the greater the success and quality of the portfolio," says Oliver Priggemeyer, CEO of IC Immobilien Holding AG. "Not only does our experience in the management of similar portfolios give us an advantage, but also our decentralized structure and the associated proximity to both the property and the tenants."
Both partners have agreed that they wish to use IC's efficient SAP system, facilitating the creation of uniform data records in the area of asset and property management.
"A great deal of time and money is often invested into the harmonization of data between client and contractor, which is then lacking when it comes to the management of properties. Avoiding this problem was a conscious decision when choosing the appropriate IT solution," continues Oliver Priggemeyer.
Source: IC Immobilien Holding AG
