March 5, 2009
Estama, the asset and property management specialist has been appointed by Resolution to asset manage 45,000 sq m of its retail portfolio located throughout Germany.
Estama will assist with the leasing of vacant space, reconfiguring and extending units, as well as redeveloping sites.
The portfolio comprises mainly retail parks and includes tenants such Edeka, Rewe, Netto, OBI and Kik.
Ben Tolhurst, managing director of Estama comments: “Decreased investment activity in Germany has fuelled demand for specialist asset and property management services, with our rigorous management standards and detailed knowledge of the German market, we hope that Estama will soon become the first port of call for other property owners.”
Shane Scott of Resolution adds: “The appointment of Estama is an important part of Resolution’s desire to build a strong asset management platform in Germany. We look forward to developing a successful relationship with this company”.
Estama was established in 2005 and currently manages a portfolio of over €1.3 billion. The hallmark of its service is the combination of UK management standards with an in-depth knowledge of the German property market. Their success reflects the growing need for an institutional quality management service in Germany, as investors can no longer rely on yield shift alone to secure sufficient returns.