Strabag takes over property management of Corpus Sireo
Strabag Property and Facility Services (Strabag PFS) is taking over the property management business of Corpus Sireo Real Estate. All of over 50 employees at the offices in Berlin, Leipzig, Dresden, Heusenstamm/Frankfurt, Düsseldorf, and Nuremberg will be retained; a significant number of new positions are to be added. No information about the amount of managed space has been released. According to their website, Corpus Sireo manages 740,000 sqm commercial space and 7,550 apartments in 450 buildings. Strabag PFS also signed several property management contracts with Corpus Sireo’s parent company Swiss Life. These include more than 340 German properties worth more than €3bn. The firm focuses on residential and office buildings. “Many of these mandates are still being built and bear potential for a significant volume increase,” a release states. The closing is anticipated by 1 April pending approval by the Federal Cartel Office.
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