French Duval Group's property management arm Yxime is joining forces with Cologne-based Omega Immobilien to provide clients access to the German property market.
Under the joint venture, Omega Immobilien will help identify investment opportunities and take on the asset, property and facility management.
Yxime has an established customer base comprising property investors, institutional investors, family offices and project developers.
'The cooperation with the Duval Group subsidiary Yxime gives us the go-ahead to start promoting Omega Immobilien’s future growth as an integrated property service provider in investment, asset, property and facility management with international partnerships. Because of its history, customer base and €17 bn in assets under management, Yxime is an ideal partner for us in France,' said Martin Herkenrath, managing partner of Omega Immobilien.
The partnership, called Yxime GmbH, will also take over the management of the existing properties owned by Yxime's clients in Germany.
Thierry Dorison, CEO of Yxime, said: 'We are seeing strong interest in German properties among our customers. We aim to accompany them on this path and, when it comes to asset, property and facility management in Germany, to give them the same high-quality support that we have been successfully providing in France for years. To this end, we consider Omega Immobilien to be ideal as an equal partner that is represented in the key property markets in Germany as extensively as we are in France. We are convinced that properties can be acquired and managed in a value-oriented manner only with longstanding property expertise, profound technical knowledge and familiarity with the local markets.'
