Netherlands-based MVGM acquires PropertyFirst
The Dutch property manager MVGM acquired all shares in PropertyFirst, currently still a subsidiary of RGM Holding, with effect from the start of the new year. PropertyFirst will continue to operate under its current name and retain its current managing director, Andreas Flechtner. Oppenhoff & Partner advised RGM on the transaction; Ritterwald and the law firm Heuking Kühn Lüer Wojtek advised MVGM. PropertyFirst is registered in Bochum and specializes in commercial and technical real estate management. It currently oversees approx. 3 million sqm of lettable space in Germany. Its main focus is on office properties (60%), along with apartments, retail, logistics, and light industrial sectors. It has 90 employees at twelve locations throughout Germany. “As shareholders, RGM and Gegenbauer will continue to work together with PropertyFirst and MVGM,” says Fritz-Klaus Lange, Chairman of the Executive Board at RGM Holding and CEO of Gegenbauer Holding.
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