Frankfurt Stock Exchange-listed Accentro Real Estate is acquiring DIM Holding, a €2.8bn German real estate manager.
DIM, which manages residential and commercial real estate portfolios in Germany, has assets with a total area of 1.4m sqm and manages some 18,500 residential units. The firm has 130 employees.
Lars Schriewer, CEO of Accentro Real Estate, said: “We intend to gradually increase the number of properties owned by Accentro and thus become a long-term lessor irrespective of our privatisation portfolio.
”With this in mind, it makes sense to have a property manager on hand who acts as on-site caretaker and trouble-shooter with knowledge of the local market, close contact to tenants and in-depth technical knowledge of the managed real estate.”
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