Allreal separates from Hammer Retex
Allreal is selling its third-party property management business, Hammer Retex AG in Cham. The buyer is Philippe Weiti, previously a member of the management of Hammer Retex and head of the Zurich branch.
Allreal is selling 100 percent of its shares in Hammer Retex AG with retroactive effect from January 1, 2018. The Cham-based company operated property management services for third parties within the Allreal Group. The nine employees of the Zurich branch will be taken over by Allreal and will exclusively manage the company's own investment properties, Allreal says.
The sale marks the separation of third-party business from the management of the company's own properties. This will enable Hammer Retex AG to position itself clearly in the market as a specialized provider. Allreal, on the other hand, is using the sale to create the conditions for further expanding the proportion of investment properties it manages itself, the company said. Allreal took over Hammer Retex in January 2012.
The parties have agreed not to disclose the purchase price. According to Allreal, the sale is not expected to have any significant financial impact on the 2018 financial year.
