STRABAG Property and Facility Services GmbH (STRABAG PFS) takes on the property management business from CORPUS SIREO Real Estate GmbH and all its employees as part of a jointly developed partner model. Closing is expected to be on 1 April 2019 – subject to the agreement of the cartel office. The parties have agreed to not disclose the purchase price of the contract.
Parallel to the agreement, a number of long-term property management contracts were concluded between the Swiss Life Group and STRABAG PFS. There are currently more than 340 Swiss Life properties in various asset classes held in Germany with a total value of more than EUR 3 billion. The focus is on residential and office buildings. An above-average contract term was agreed for the portfolio.
“With this transaction, STRABAG is further expanding its real estate management,” said Thomas Birtel, CEO of the listed STRABAG SE. “Many of these mandates are still in the development phase despite the already large volume and have the potential for a significant increase in volume. Thus, we are expecting strong growth in our property management business over the next few years.”
CORPUS SIREO property management has more than 50 employees in Berlin, Leipzig, Dresden, Heusenstamm/Frankfurt, Düsseldorf and Nuremberg. Locations and jobs are untouched. STRABAG PFS will fully integrate them into the existing structures of the “Property Management” area. In addition, extensive recruitment is planned.
“In the partner model developed together with STRABAG PFS, we see great potential for our customers in terms of above-average property performance,” said Martin Eberhardt, Managing Director responsible for CORPUS SIREO Real Estate. “We think it was important for our employees to choose an excellent new employer with very good prospects for the future. The focus for CORPUS SIREO was on an innovative partner with similar interests.”
With the new account, STRABAG PFS is actively promoting not only growth, but also property services 4.0. The digitalisation strategy was already a decisive factor during the awarding process for awarding the contract. “We will provide property management for these contracts on our own IT platform,” explains Marko Bohm, Managing Director of Real Estate Management at STRABAG PFS. “It is based on SAP RE/FX and MS Dynamics and will be extended by corresponding interfaces to the client systems.”