Bilfinger Real Estate has been appointed as the new property manager of IVG's Prime portfolio consisting of around 38,800 m2 of office and retail space in Germany.
Bilfinger Real Estate has been appointed as the new property manager of IVG's Prime portfolio consisting of around 38,800 m2 of office and retail space in Germany.
The package, which was bought by IVG for a Luxembourg-domiciled fund, comprises three development and standing assets in prime city-centre locations in Berlin and Frankfurt am Main.
These include the mixed-use One Goetheplaza building at Goetheplatz 5–11 in Frankfurt am Main, the refurbished T11 tower on Taunusanlage 11 in Frankfurt's banking district and a mixed-use asset at 195 Kurfürstendamm in Berlin.
Bilfinger will take over property management of the two properties in Frankfurt upon completion of construction in the first quarter of the year.
'We have long entrusted the management of our portfolio properties to Bilfinger Real Estate. We view the mandate for the Prime Portfolio as a clear move that will further strengthen our strategic partnership,' commented Jörg Müller, director at IVG Asset Management.
Bilfinger Real Estate currently manages 185 German properties with a total area of 1.95 million m2 on behalf of IVG.
