Germany's Versicherungskammer, a Munich-based public insurance group, has announced plans to set up a real estate subsidiary, Versicherungskammer Real Estate GmbH.
The fully-owned subsidiary will be transferrred the group's entire real estate portfolio worth around €8 bn and will be managed by Daniel Preuße and Robert Heinlein, who already held senior positions in the Versicherungskammer group.
Together with over 100 employees, they will be responsible for looking after the entire real estate portfolio of the companies in the Versicherungskammer group.
Services including investment management, portfolio and project development as well as asset and property management will also be offered to third parties outside the Versicherungskammer group.
'With VK Real Estate we are strengthening our position as a competent contractual partner. As an independent real estate unit, it can respond more individually to the wishes of customers,' commented Andreas Kolb, CFO of the Versicherungskammer.
