Germany’s Commodus announced on Thursday that it is changing its name to Coros to underscore the evolution of its business with a focus on sustainability and the development of urban spaces.
‘The renaming of Commodus to Coros is the logical result of our dynamic development process over the past years,’ said Matthias Mittermeier, founder of Coros. ‘We first started about five years ago with a small founding crew, focusing on asset and investment management. Since then, we have not only expanded our investor base and added project development to our operating business, but we have also broadened geographically, internationally. In the process, our vision has broadened, and we have grown into a young and dynamic team with a new self-conception. We want to consistently implement success-critical future topics such as sustainability and the design of livable, urban spaces with innovative utilization concepts in our projects.’
The goal, he said, is to generate sustainable value in urban spaces for the city's communities and Coros' partners. ‘The future city will be green, communicative and colorful - and we want to play an active role in shaping this development,’ he added.
With offices in Berlin and Munich and roughly €1 bn of assets, Coros invests in mixed-use value-add and core-plus properties in urban locations. The company has so far launched three institutional funds, which focus primarily on growing urban areas within Germany in the office/mixed-use sector. In addition, with the acquisition of Bayerisches Immobilien Kontor (BAYIKO) two years ago, It also stepped into residential development in the country.
