HIH Property to manage Generali's northern Germany property portfolio

Generali’s real estate asset management arm has hired HIH Property Management (HMP) to manage its €1bn northern Germany portfolio.

Generali Real Estate said, from January next year, the €7bn German property manager will manage the Nord-Portfolio mandate which covers 32 properties.

The properties, located in Berlin, Hamburg and Schwerin, include office and residential assets as well as two shopping centres.

Christian Kypke, who heads HPM’s Berlin office, will assume overall responsibility for the mandate and coordinate the collaboration with Generali Real Estate.

Thomas Junkersfeld, a managing director of HPM, said: “The portfolio has a volume of €1bn and represents one of the largest separate accounts that HPM acquired to date.

“Being awarded this contract bolsters our position as leading high-quality provider of commercial property management and we are positively elated over the faith vested in our performance.”

Kypke said: “We will spend the coming months preparing in depth for our new mandate, defining individual services, process flows and interfaces and stocking up our human resources in the branches in Berlin and Hamburg.”