Prime Strategic Germany has changed its name to Prime Property Management and intends to expand in the following months. The company, which was founded in October 2007, specialises in asset management of commercial properties on behalf of national and international investors.
Prime Strategic Germany has changed its name to Prime Property Management and intends to expand in the following months. The company, which was founded in October 2007, specialises in asset management of commercial properties on behalf of national and international investors.
Prime Property Management currently manages a property portfolio of about 110 properties with 450 tenants on behalf of wealthy individuals, banks and institutional investors. The most well-known customer is the International Private Property Fund Glencourt Group, which primarily invests in the UK, Germany and India.
The seven-member team of Prime Property Management is responsible for the entire German property portfolio of the Glencourt Group, which consists of 94 properties spread across the country. About 80% of the properties are retail properties, predominantly retail parks but also small shopping centres, medical centres and logistics properties. The asset managers actively acquire new projects and are currently primarily looking for retail projects with a value between EUR 5-20 mln. In 2008, the portfolio was increased by five properties, some of which are located in Hamburg and Berlin.
'We focus on small investment companies with property portfolios and family offices and want to expand in the following months', explained Marcel Fuhr, managing director of Prime Property Management.
Fuhr has almost 10 years of experience in the valuation, purchase and management of properties and was employed by DTZ Germany and Capmark Financial Group before he started his own business.
