The Sparkasse KölnBonn savings bank will raise its interest in CORPUS SIREO GmbH & Co. KG to 50 percent by the end of this year. Having obtained the approval of the other shareholders, it will acquire the 25-percent stake held by THITA GmbH & Co. KG from Michael Zimmer. The latter, who is the company founder, had planned to sell for a long time. As a result, Germany’s leading real estate asset manager will be fully owned by savings banks, the other shareholders – beside Sparkasse Köln – being Stadt¬sparkasse Düsseldorf and Frankfurter Sparkasse with 25-percent stakes each. It was agreed not to disclose the purchase price.
Said Ralph Günther, CEO of CORPUS SIREO Holding GmbH & Co. KG: “The savings bank shareholders are one of the key success factors of your company. Being a fully-owned partnership of the savings bank enables us to consistently pursue our growth strategy, and to exploit the brand stability of Germany’s family of savings banks even more intensely for the purposes of CORPUS SIREO.”
Artur Grzesiek, CEO of Sparkasse KölnBonn, had this to say: “Sparkasse KölnBonn has been a CORPUS SIREO shareholder from the start, and increasing our interest in our real estate partner is a perfectly plausible move to make. After all, Cologne is not just home to the headquarters and origins of our real estate partner, who operates successfully all over Germany, but also the key area for its real estate agency division – currently market the leader in the Cologne/ Bonn region.”
On behalf of its clients, which include institutional investors, banks, and companies with owner-occupied real estate, CORPUS SIREO has a total of 14.5 million square metres of real estate under management that is currently worth 15.4 billion Euros. This includes nearly 1.6 billion Euros in managed fund assets.
This makes CORPUS SIREO Germany’s leading real estate asset manager. At the same time, the company is Germany’s second-largest housing project developer and one of the fastest-selling estate agencies nationwide.
CORPUS SIREO pursues an active growth strategy, especially in the high-margin investment and asset management business. This year alone, the company acquired new mandates worth nearly one billion Euros in assets under management in this business sphere.
ABOUT CORPUS SIREO
CORPUS SIREO, based in Cologne, has 14.5 million square meters in commercial and residential real estate with an aggregate value of more than 15.4 billion Euros under management, and is thus Germany’s biggest provider of asset management services. This makes the company Germany’s biggest asset manager. 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.
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