Cording Group Germany and Marstall-Verwaltungsges have announced that they have combined their commercial property management businesses in Germany.
Cording Group Germany and Marstall-Verwaltungsges have announced that they have combined their commercial property management businesses in Germany.
This follows the acquisition by the Cording Real Estate Group of MGI in Frankfurt last year.
The merged company will trade as Cording Management with immediate effect. Following the move, the Cording Real Estate Group now has 83 staff managing 482 buildings with a value of around €4 bn in the UK, Germany and Scandinavia. The figure includes investment management mandates of around €1.18 bn.
Frank Ritscheck from Marstall and Arindam Mitra from Cording Real Estate Group will jointly manage the combined team that consists of 40 staff based in Berlin, Haldensleben, Frankfurt, Düsseldorf, Stuttgart and Ludwigsburg.
Cording Management will offer property, technical and accounts management for a wide spectrum of clients including Commerz Real, ZIAG Immobilien, REO and Buccleuch. The properties are spread across all commercial sectors and include buildings such as the Japan Tower and Eurotheum in Frankfurt and Marstall Centre in Ludwigsburg .
Arindam Mitra, Managing Director, Cording Management, commented: 'This partnership provides Cording with the footprint and network needed to support clients across Germany. With six offices we can deliver a truly seamless service for all of our clients.'
Cording Real Estate Group is an independent business with expertise in portfolio management, financial management, asset management and property management, all of which it runs in-house through an integrated platform.
