DGAP-News: IC Immobilien Holding AG: IC implements growth strategy
(firmenpresse) - IC Immobilien Holding AG / Key word(s): Acquisition/Mergers&Acquisitions
15.09.2010 14:22
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IC implements growth strategy
- Increase in Assets Under Management from approx. EUR5bn to EUR7.8bn
Unterschleißheim near Munich, 15 September 2010 - IC Real Estate Group
merges with PropertyOne - the asset and property manager. PropertyOne
GmbH, based in Frankfurt with an office in Berlin, has an international
clientele. The company is in charge of a commercial property portfolio
(located throughout Germany) which is jointly owned by Cerberus. The
financial basis of the merger is an in-kind investment in return for an
increase in capital. As a result, PropertyOne's shareholders of now, will
have a 7% stake in IC Immobilien Holding AG.
At their General Meeting last June - IC Immobilien Holding AG, following
their property and asset management re-organisation, announced their rapid
expansion path. The goal of the reorganisation was to more efficiently
utilize their state-of-the-art IT platform which was developed over the
past two years. By the end of 2011, managed investment volume is forecast
to grow from EUR5bn to around EUR10bn. Together with PropertyOne, IC
manages around EUR7.8bn.
The merger has advantages for both companies. PropertyOne gains nationwide
presence with eight business locations as well as a modern IT platform. IC
Real Estate Group's decentralised position is strengthened and expanded due
to PropertyOne's existing portfolio. As a result, investments made in the
IT landscape can be used with a broader range of customers which, due to
economies of scale, reduces costs.
The company will operate under the name IC PropertyOne Asset und Real
Estate Management GmbH; and together with its affiliate, IC Immobilien
Service GmbH, is expected to become a serious competitor in the German
asset and property management sector.
'Our vision to merge medium-sized property and asset managers to a powerful
group was very well received. My colleague, Oliver Priggemeyer, and I are
looking forward to strengthening our Group with PropertyOne and our
management team with Guido Beddig, the former and future Managing Partner.
In the next months, we want to develop our network further and enhance our
power in the market', says Dr. Oscar Kienzle, Spokesman of the Board of IC
Immobilien Holding AG.
The two companies in figures:
Key data IC PropertyOne IC PropertyOneAbout IC Real Estate Group:
Assets under approx. approx. approx.
management EUR5bn EUR2.8bn EUR7.8bn
Number of managed approx. 270 approx. 430 approx. 700
properties
Number of tenants approx. 2,800 approx. 4,800 approx. 7,600
Rentable space approx. 1.5m sqm approx. 2.2m sqm approx. 3.7m sqm
Occupancy rate>90% 81.1%>87%
Employees approx. 140 57 approx. 197
Turnover 2009 EUR12.6m EUR3.4m EUR16m
IC Real Estate Group focuses on real estate services for German and
international institutional investors. Moreover it manages its own, as well
as, real estate funds for third-parties. The IC Real Estate Group currently
manages assets to the tune of around EUR7.8bn. With 8 business locations
and, at present, around 200 employees, it operates throughout Germany. IC
is also located in North America with one office. The IC Real Estate Group
has more than 20,000 private and institutional investors.
Contact partners
Stephan Holeczek
IC Immobilien Holding AG
Ohmstraße 4
D-85716 Unterschleißheim
Phone: +49 (0) 89 / 55 22 7 - 362
Fax: +49 (0) 89 / 55 22 7 - 355
E-mail: investor.relations(at)ic-group.de
15.09.2010 14:22 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: IC Immobilien Holding AG
Ohmstraße 4
85716 Unterschleißheim
Deutschland
Phone: +49 (0)89 / 55227-362
Fax: +49 (0)89 / 55227-355
E-mail: stephan.holeczek(at)ic-group.de
Internet: www.ic-group.de
ISIN: DE0005632160
WKN: 563216
Listed: Freiverkehr in Hamburg, München, Berlin, Stuttgart; Open
Market in Frankfurt
End of Announcement DGAP News-Service
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Datum: 15.09.2010 - 14:22 Uhr
Sprache: Deutsch
News-ID 32192
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Kategorie:
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