Union Investment awards PM contract for 150 properties

10/08/2018

Union Investment put out a new call for bids for the property management of 150 commercial properties from its German portfolio for the next three years and has selected Strabag PFS, Apleona Real Estate, B&L Property Management and Tattersall Lorenz. The contracts cover 2 million sqm of total lettable space. While Strabag, Apleona and B&L were already working for the advertised portfolio, Tattersall Lorenz has now also been commissioned. In addition, there were shifts of responsibilities within the real estate portfolio. The largest shares of the portfolio will be managed in the future by Strabag PFS (49 properties) and by Apleona (45 properties), both of which will operate nationwide; in terms of lettable space, these properties represent 73% of the volume advertised. B&L will manage 33 properties in northern and southern Germany; Tattersall Lorenz will oversee 23 properties in the middle of the country, where North Rhine-Westphalia and Hesse are heavily represented in the portfolio.


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