DIM Group acquires PATRIZIA Property Management
DIM Deutsche Immobilien Management (DIM Property Value GmbH) is acquiring the German property management function of PATRIZIA, effective 2 January 2017.
“The property management activities of PATRIZIA span all areas of real estate administration throughout the whole of Germany and will be taken over by DIM in the New Year. The contract for the deal has now been signed,” states Wolfgang Loeper, Chairman of the Executive Board of DIM Holding AG. “We’re really looking forward to working with our new colleagues. This acquisition is an important step in our expansion plans in Germany following a restructuring at the beginning of 2014.”
The integration of the property management activities will be coordinated carefully between the two parties with an emphasis on reaching mutually agreeable decisions. DIM is to take over property management activities at sites in Augsburg, Berlin, Cologne, Dresden, Frankfurt, Hamburg, Munich and Stuttgart, with an agreement to also take on existing administration contracts for residential and commercial properties.
“Only recently, DIM was named the best property management company for residential properties for the third time in succession,” states Loeper. “Our aspiration will remain to be the property manager with the most loyal customers.”
Wolfgang Egger, CEO of PATRIZIA Immobilien AG, states: “PATRIZIA is one of the leading real estate investment companies in Europe. As we have previously stated, we’ll be placing an even stronger focus on investment management in the future as part of our strategic development plan. We were looking for a property management service provider with the skills to keep managing the property assets entrusted to us with high levels of professionalism and commitment. In DIM we now have a strategic partner on board and we look forward to the successful collaboration.”
About the DIM Group
The DIM Group is a service provider in the fields of property management, portfolio optimisation, fund management and property lets. As a property management specialist, its core competences lie in housing, residential property management and commercial premises. The companies belonging to the DIM Group employ around 190 people in the management and administration of over 40,000 residential and commercial units as well as 90 closed-end real estate funds. The fund management activities of the company are operated through a joint venture with the auditing and tax consulting specialist Roever Broenner Susat Mazars, which also has offices throughout Germany.