March 30, 2009
Estama , the property asset management company, has been instructed by Pears Global Real Estate Investor to manage a portfolio of 75 retail properties totalling 1.5 m sq ft in Germany. The properties are located across Germany, including Berlin, Hanover, Nuremburg and Leipzig.
The management and leasing instruction will principally comprise supermarkets and retail parks and include tenants Aldi, Lidl and Edeka. This follows their recent asset management instruction from Resolution for a 45,000 sq m retail portfolio and underlines the current demand in Germany from UK based investors.
Ben Tolhurst, managing director of Estama, comments: “there is a growing need for reliable, proactive property management services in Germany which deliver real value. Estama is providing this together with specialist asset management experience and detailed German market knowledge, to help investors achieve good results in a tough market.”
Estama was established in 2005 to meet the growing need for asset management services following an influx of foreign money into the German property market.