Corpus Sireo hands over property management to Strabag
The German Swiss Life subsidiary Corpus Sireo Real Estate is transferring its property management business to Strabag Property and Facility Services.
Corpus Sireo Real Estate's Property Management division has more than 50 employees in Berlin, Leipzig, Dresden, Heusenstamm/Frankfurt, Düsseldorf and Nuremberg. Locations and jobs are to be retained; Strabag PFS will fully integrate them into the existing structures of its Property Management division, the companies say. A contract to this effect has already been signed, they said. The closing is expected to take place on April 1 of this year - subject to the approval of the German Federal Cartel Office.
In parallel to the contract, Swiss Life and Strabag FPS have also concluded a number of long-term property management agreements. These involve more than 340 Swiss Life properties of various asset classes held in Germany with a total value of more than three billion euros, according to the companies' statement. The focus is on residential and office buildings, it said. An above-average contract term has been agreed for the portfolio, it said. (ah)
