Residential real estate investment continues to gain in significance in the European real estate market and within Germany in particular. The security and investment stability provided by rental housing portfolios in Germany is particularly appreciated amongst International Investors. Acknowledging this positive trend, and to intensify the focus of the asset management services in the residential segment, CORPUS SIREO is transferring 16,000 residential units already under its management to its new Asset Management Residential division.

Looking forward, CORPUS SIREO Asset Management Residential GmbH is poised for growth, with the new team being led by Stefan Korthals. Korthals (aged 38) is an experienced real estate professional, who until recently headed the portfolio management for CORPUS SIREO’s own residential real estate portfolio. Korthals, says: “CORPUS SIREO Asset Management Residential delivers specialised knowledge for the value-oriented management of residential real estate, as we have developed it over years working with the proprietary, nationwide, inventory which we transformed in recent years from a trading portfolio into an investment portfolio for long-term ownership. Moreover, we already have a successful track record in the business of managing residential real estate for international investors such as Apollo, a major International Investor that mandated us to manage a significant portfolio of residential assets.”
CORPUS SIREO Asset Management Residential will initially have branch offices in Cologne, Berlin and Leipzig. The service portfolios of the value-added asset management of residential real estate portfolios includes consulting, acquisition management, portfolio/asset management, and sales management.

In case of the residential real estate stock already under management, the vacancy rate was successfully reduced from 6.8 to 4.6 percent in 2010. This equals a reduction in vacancy of c. 32 percent. In addition c. €900 million of residential real estate transactions, of various size categories and deal structures, have been executed by CORPUS SIREO since 2004.

Stefan Korthals says: “Providing asset management for residential portfolios is a small-scale and economically sensitive business. The only way for an investor to make money is by optimising a large quantity of individual leases. This makes a modern IT structure and specialists with experience in the asset management of residential portfolios indispensible prerequisites for the successful management of such assets.”

Stefan Korthals can be reached at stefan.korthals@corpussireo.com

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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