Swiss office and commercial real estate investor PSP Swiss Property has sold the property management unit it has handled for third parties to German construction and services company Bilfinger Berger. Neither PSP nor Bilfinger Berger would reveal the value of the transaction, but the business is to be operated under the new name of EPM Swiss Property Management.

Swiss office and commercial real estate investor PSP Swiss Property has sold the property management unit it has handled for third parties to German construction and services company Bilfinger Berger. Neither PSP nor Bilfinger Berger would reveal the value of the transaction, but the business is to be operated under the new name of EPM Swiss Property Management.

PSP Swiss Property will continue to manage its own real estate portfolio, valued at EUR 2.9 bn. Hans Peter Egloff, who had managed the unit for PSP, is to become the ceo of EPM Swiss Property Management, which will manage and let residential and commercial real estate for institutional and private investors.