IC Immobilien and HIH Property Management conclude strategic partnership
- IC Immobilien Holding GmbH takes up a stake of 51 per cent in HIH Property Management GmbH
- Economies of scale facilitate further qualitative growth and investments in ESG and digitalisation
- Existing and new customers profit from bundling of competences and improvement in range of offerings
Frankfurt am Main, 2 December 2021 – IC Immobilien Holding GmbH (IC Immobilien) and HIH Property Management GmbH (HPM) have announced a long-term strategic partnership. A corresponding agreement was signed in Hamburg this week by IC Immobilien and HIH Real Estate GmbH, the shareholder in HPM. Subject to the expected antitrust approval, IC Immobilien is initially taking up a stake of 51 per cent of the shares in HPM. The acquisition of the remaining shares is possible and planned from 2023 onwards at the earliest. The objective of the joint venture is the bundling of key competencies in real estate management and further qualitative growth for both companies. Thanks to the partnership the two companies will be able to offer more extensive property management services from one source in the future.
“For IC Immobilien Gruppe this partnership is an important step in its medium- and long-term growth strategy. HPM is the ideal partner for us. Together we intend to adapt and develop the best aspects of each company so as to bundle competencies and continuously enhance the quality of our services. The many years of expertise on the part of IC Immobilien, and in particular in the retail sector, and the pronounced fund management competence of HPM are just two examples of how the whole is greater than the sum of the parts,” says Markus Reinert FRICS, the Chairman and CEO of IC Immobilien Holding GmbH.
“We are convinced that through this partnership we will be able to create an attractive future perspective for HIH Property Management. All the signs at IC Immobilien point to growth, and together the two companies can more successfully master the forthcoming challenges such as digitalisation and ESG,” adds Erik Marienfeldt, the managing director of HIH Real Estate.
The joint venture will initially operate on the market in an unchanged form under the HIH Property Management (HPM) brand. André Vollbach will remain the managing director of HPM. Following the closing Markus Reinert, will also become a managing director of the joint venture alongside his current tasks. Together IC Immobilien and HIH Property Management will then be represented nationwide with some 500 employees in Berlin, Chemnitz, Düsseldorf, Frankfurt, Hamburg, Cologne, Munich and Stuttgart, and will manage real estate assets of approx. 23 billion euros.
“In this respect the in-depth comprehensive expertise on the part of the employees at both companies is undoubtedly the greatest strength of this partnership. I am already looking forward to the collaboration, and getting to know my new colleagues in the course of many interesting meetings,” says Reinert.
