Profond awards asset management contract
Profond Anlagestiftung (Zurich) has awarded Corpus Sireo Real Estate the asset management contract for the ORL portfolio.
The mandate for the company, which is part of the Swiss Life Group, covers all services in the area of strategic and value-added management of the office, retail and logistics (ORL) real estate portfolio, including construction project management. If required, the company also provides acquisition and sales management.
The asset management contract covers a total of 22 Profond investment properties, 21 of which are in Germany and one in Austria. The rental space, which totals 173,000 square meters, is mainly divided between retail, office and logistics uses. The vacancy rate is currently around 10 percent.
"We aim to continuously expand the real estate portfolio in order to be able to guarantee an attractive return with low volatility. With a target share of 15 percent of the foundation's total assets, real estate is an essential part of our long-term investment strategy," explains Herbert Meierhofer, Head of the Real Estate Investment Committee at Profond Investment Foundation.
"We are very pleased to further deepen our business relationship with Profond through this mandate. Convinced of the long-term perspective of this partnership, we will optimally leverage our very well positioned network in the German market for sustainable value growth of the ORL portfolio," says Bernhard Berg, CEO of Corpus Sireo Real Estate.
