Germany's Corpus Sireo has announced the launch of a new business unit for the value-added management of residential real estate. The management of EUR 1.2 bn of housing property for proprietary and client accounts has already been transferred to the new residential division, which is led by Stefan Korthals.
Germany's Corpus Sireo has announced the launch of a new business unit for the value-added management of residential real estate. The management of EUR 1.2 bn of housing property for proprietary and client accounts has already been transferred to the new residential division, which is led by Stefan Korthals.
The company sees a positive trend in the residential real estate market, which is increasingly in demand by international investors. In order to increase its focus on the residential segment, Corpus Sireo said it is creating a special Asset Management Residential division and transferring 16,000 residential units already under its management to this new unit.
'Corpus Sireo Asset Management Residential has transformed in recent years from a trading portfolio into an investment portfolio for long-term ownership. Moreover, we already have a successful track record in the business of managing residential real estate for international investors such as Apollo, a major international investor that mandated us to manage a significant portfolio of residential assets.'
Corpus Sireo Asset Management Residential will initially have branch offices in Cologne, Berlin and Leipzig. The service portfolios of the value-added asset management of residential real estate portfolios includes consulting, acquisition management, portfolio/asset management, and sales management.
The company has so far reduced the vacancy of its residential portfolio from 6.8% previously to 4.6% at present.
