Treveria commissions IC with the Property Management of its German real estate portfolio comprising 370 properties
Unterschleißheim near Munich/Frankfurt am Main, 19 October 2011 – 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 1 December 2011.
The retail properties, which have a combined rental space of approximately 1 million square metres, 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 esti-mated to be around €1.4bn.
This move shall pave the way to a close collaboration, as only "cooperation which is both coordinated and shaped by mutual trust allows the chal-lenges 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 de-centralized structure and the associated proximity to both the property and the tenants."
IC Immobilien Holding AG 2 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 ap-propriate IT solution," continues Oliver Priggemeyer.
About Treveria Asset Management GmbH
Treveria Asset Management GmbH is the leading specialist in retail property in Germany. The business goal of the company, which has been market-listed in London since 2005 (Alternative Investment Market = AIM), is to maximise stakeholder value through maintaining and managing retail property. Treveria owns around 370 properties which cover 1 million square metres of retail real estate rental space. The majority of these properties are located in medium-sized towns in the west of Germany and are predominantly found in high-street locations. The current value of the property is estimated at over €1.4bn.
About IC Immobilien Gruppe
The IC Immobilien Gruppe focuses on asset and property management for German and international, institutional real estate investors. Besides this, the group, with its head office in Unterschleissheim near Munich, manages real estate funds issued both by the company and by third parties. With seven sites and around 200 employees, IC covers almost the whole of Germany and also has two further branch offices in North America. The IC Group provides services to a total of over 15,000 private and institutional investors and administrates an investment volume of more than 8.5 billion euros.
