STRABAG PFS to Manage DEMIRE Portfolio
STRABAG Property and Facility Services GmbH (STRABAG PFS) has increased the square metrage of rental space under management in Germany to 5.6 million, following the award of a new contract to provide technical and commercial property management services to DEMIRE Deutsche Mittelstand Real Estate AG.
DEMIRE Deutsche Mittelstand Real Estate AG has commercial real estate holdings in mid-sized cities and up-and-coming locations bordering German metropolitan areas. The company’s specific forte is its focus on these second-tier cities—its claim being “First in Secondary Locations”—and on a range of assets that appeals to both internationally active and regionally rooted tenants. Having expanded rapidly between 2013 and 2016 both by buying single properties and by acquiring equity interests, DEMIRE held a portfolio with a combined lettable area of around 1 million sqm and a fair market value of more than EUR 1 billion by the end of the 2017 financial year.
The portfolio focus on office, retail and logistics assets results in exactly the kind of risk/reward structure that DEMIRE considers appropriate for the business line of commercial real estate. The Company puts a premium on long-term contracts with solvent tenants in anticipation of stable and sustainable rent revenues. DEMIRE has set itself the goal to keep optimising its corporate structure. To this end, it pursue an active property management approach out of the conviction that it is the best way to achieve economies of scale and portfolio optimisations.
DEMIRE Deutsche Mittelstand Real Estate AG shares (ISIN: DE000A0XFSF0) are listed in the Prime Standard segment of the Frankfurt Stock Exchange.
Visit www.demire.ag for further information.