Swedish-based property adviser Catella said on Thursday that it has sold its property management business to German peer Gestrim, which is majority-owned by French group Nexity. No financial details were disclosed. The deal includes the transfer of all 33 Catella employees.
Swedish-based property adviser Catella said on Thursday that it has sold its property management business to German peer Gestrim, which is majority-owned by French group Nexity. No financial details were disclosed. The deal includes the transfer of all 33 Catella employees.
Catella said it plans to focus on transaction consultancy and investment management services. The company said that in 2007 it managed a Germany-wide sales transaction volume of well over EUR 4 bn and provided further transaction-related consultancy services totalling in excess of EUR 10 bn.
'Catella's core business activities include transaction consultancy, ranging from portfolio structuring and the back-office processing of all processes through to the conclusion of contracts and asset management as well as the valuation of buildings. Following our success in 2007, we aim to further expand this business segment,’ said Andreas Quint, managing partner at Catella. ‘Focussing primarily on property management services in Germany, Gestrim will be able to achieve considerable synergetic effects with our property management team. As a company specialising in transaction consultancy, this would not have been possible for us to the same extent.'
