Hamburg-based Tag Immobilien has taken over HSH Real Estate's 49% shareholding in their Larus Asset Management joint venture. The financial details of the transaction were not disclosed.
Hamburg-based Tag Immobilien has taken over HSH Real Estate's 49% shareholding in their Larus Asset Management joint venture. The financial details of the transaction were not disclosed.
Larus was established in 2007 and covers the entire range of property management for commercial real estate. It currently manages 124 properties with a combined volume of EUR 2.2 bn.
Tag also announced a reorganisation of the management of its own commercial properties, with Larus not only handling its property management as before, but will also be in charge of asset management. Tag said that the integration of Larus would enable the enlarged group to exploit shared synergies.
