Quest Investment Partners has unveiled plans to acquire a majority stake in property management company Albrecht Gebrüder & Co., which was founded in 1987 and is based in Hamburg and Berlin, Germany.
The move, slated for 30 June, is set to mark the real estate company's entry into its third business area, alongside the project development and fund business.
Quest plans to establish new branches of the property management company in Munich and Frankfurt, and to gradually integrate its own portfolio into that of Albrecht Gebrüder & Co.
Theja Geyer, managing partner at Quest Investment Partners said: 'This strategic partnership will bring us closer to our properties in the future and enable us to ensure optimal property management.'
Albrecht Gebrüder & Co. employs around 30 people in an interdisciplinary team of real estate specialists, civil engineers, business economists, accountants, rental experts, lawyers and property caretakers. The company currently manages some 120 properties with over 4,500 commercial and residential units and more than 500,000 m2 of usable space.
Its clients are domestic and foreign investors such as pension funds, family offices, foundations and medium-sized property owners. It has a focus on central locations in Hamburg and Berlin.
Dr Philip Boll and Dr Christoph Lück will stay on board as managing partners of Albrecht Gebrüder & Co.
Lück said: 'We are delighted to have this strong partner, whose high-quality properties and steady pipeline of new projects offer us attractive growth prospects.'
