Sold out: With the sale of the last assets out of total of more than 4,900 properties, the Cologne-based CORPUS SIREO Asset Management Residential GmbH has fully sold the “Kleinwohnungsbau GmbH & Co. KG” package.
In 2002, the former investment division of CORPUS SIREO had acquired not just the 71 management units with a total of 4,926 residential units along with nearly 2,200 indoor and outdoor parking spaces, but had also taken over the very company in the process. Out of the acquired portfolio of residential and business buildings in Hamburg, Berlin, Wuppertal, Düsseldorf, Hilden, Langenfeld, Cologne and Kornwestheim, around 300 units were resold to tenants, owner-occupiers and private investors in a privatisation drive, while the remaining properties were sold globally to institutional investors.
CORPUS SIREO has since suspended its activities as real estate trader in its own right, pursuing the acquisition and transaction business as a service for third parties instead. With the complete disposition of the acquired package “Kleinwohnungsbau GmbH & Co. KG,” the company demonstrated the very trading competence that it is now making available to its clients, including national and international investors, financing banks, and companies with proprietary real estate portfolios.
Stefan Korthals, Managing Director of CORPUS SIREO Asset Management Residential GmbH, says: “Being able to handle a variety of sales forms, such as privatisations, retailing and package deals, demonstrates specialised knowhow that few asset managers possess in-house and therefore need to outsource. This is exactly what we offer our clients as value-add service on top of an all-in package that includes every asset management service you can think of. These services are available to investors, banks, and companies with proprietary portfolios.”
ABOUT CORPUS SIREO
CORPUS SIREO, based in Cologne, has 14.6 million square meters in commercial and residential real estate with an aggregate value of 17.8 billion Euros under management, and is thus Germany’s biggest provider of asset management services. The company is also the market leader in regard to the number of managed asset classes: Serving seven asset classes (office, residential, retail, logistics, healthcare, production/technology, others), CORPUS SIREO offers the broadest spectrum of all German asset managers. Accordingly, even rival companies rate CORPUS SIREO as the chief competitor on the market. (These are the findings of the “Real Estate Asset Management Report 2011" by Bell Management Consultants.)
To investors, banks, and companies with proprietary real estate portfolios, CORPUS SIREO offers investment management and asset management services along the entire real estate supply chain. Moreover, the company acts as broker and project developer for owner-occupiers and investors. With more than 17 billion Euros in real assets under management, CORPUS SIREO employs a staff of around 530 professionals at ten locations in Germany and Luxembourg.
For more details go to: www.corpussireo.com
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For further information please contact:
Yvonne Hoberg, PR Manager
CORPUS SIREO Holding GmbH & Co. KG
Tel. +49 221 39900 120
Mobil +49 170 2262028
yvonne.hoberg@corpussireo.com