BayernLB's real estate investment arm, Real IS, has spun off its property management division.
The new unit, Real IS Property Management, has been founded retroactively, as of 1 January 2022, as a limited liability company (GmbH).
Wolfgang Mussmächer, Andreas Baumgärtner and Markus Hofmeister are the managing directors of the company.
'For more than 30 years now we have continually been creating added value for our investors with our holistic building management,' said Jochen Schenk, CEO of Real IS. 'By bundling our resources in our own company we are taking the next logical step so that we can also offer our expertise to external asset managers though third-party mandates.'
Real IS Property Management currently manages assets with a value of €2.4 bn and a total leasable area of around 750,000 m2 in about 50 properties. Furthermore, it already has five mandates for external clients.
In his function as managing director, Mussmächer is above all responsible for the strategy and the development of the company. Baumgärtner oversees the commercial and technical property management, while Hofmeister is responsible for the finances and business operations.
Real IS's property management company will not only have offices at the existing locations Munich, Hamburg and Berlin, as well as Leipzig, Dresden and Jena, but will also push ahead with the expansion of the company in southern and western Germany.
Real IS Group was founded 30 years ago to act as BayernLB’s fund provider specialised in real estate investment.
Along with alternative investment funds and an open-ended retail real estate investment fund, its products and services include customised investment fund solutions, club deals and joint ventures. The company has assets of around €12.5 bn under management.
