WGF transfers property management to Koch Immobilien

WGF Westfälische Grundbesitz und Finanzverwaltung has transferred the property management for its residential and commercial real estate holdings to Koch Hausverwaltungs in Düsseldorf.

Initially, 1,100 flats and 160 commercial spaces across Germany will fall under the supervision of the property management subsidiary of Koch Immobilien Gruppe. The contract includes technical and commercial property management, the facility management and the ongoing customer support for the tenants.

Pino Sergio, CEO of WGF, said: 'Our assets have grown considerably and are increasingly regionally set. Therefore, we have strategically decided to outsource in this field, so that we can focus on our core business.'

A number of WGF staff will be transferred to Koch Immobilien Gruppe.

Founded in 2003, WGF is a real estate trading company with more than 80 employees based in Düsseldorf. The firm's core business is to acquire residential and commercial property, to modernise it and to sell it as part of a portfolio.