Tattersall·Lorenz secures property management instruction from Edmond de Rothschild Real Estate Investment Management
Tattersall·Lorenz, an owner-operated SME property manager based in Berlin, has taken over part of the property management division of the Cording Group, which was renamed as Edmond de Rothschild Real Estate Investment Management (Edmond de Rothschild REIM) in March 2020.
Tattersall·Lorenz is now managing 20 properties that comprise part of the Edmond de Rothschild REIM portfolio in Germany. The properties, which are in the office and light industrial asset classes, have a total lettable area of some 440,000 square metres. Situated in Baden-Wurttemberg, Bavaria, Berlin, Hamburg, Hesse, North Rhine-Westphalia and Lower Saxony, they include the Osram-Höfe in Berlin-Wedding, which Tattersall·Lorenz played a part in developing and has been managing since 2010.
The agreement Tattersall·Lorenz has concluded with the Edmond de Rothschild REIM will secure a strategic partnership in the German property management sector for the next three years. In the scope of this, Tattersall·Lorenz will incorporate part of the staff of the former Cording Group into its own company.
Alfred Garbe, Head of Germany at Edmond de Rothschild REIM, says: "We were only prepared to consider an independent, agile company that is active throughout Germany. We were particularly impressed by the quality and teamwork between asset management and property management."
Susanne Tattersall, director of Tattersall·Lorenz, says: The instruction received from the Edmond de Rothschild Group is another significant milestone in our corporate history. We are proud to be working with such a well-established European investment institution, which is a considerable motivation. It shows that our decision to establish a nationwide presence and to increase investment in personnel and staff qualifications was correct.
Including the new portfolio, Tattersall·Lorenz is now responsible for the property management of 468 properties, with a combined lettable area of around 4.2 million square metres. The assets include office and retail properties, as well as hotels and light industrial investments.
Tattersall-Lorenz was advised on the transaction by the management consultancy RITTERWALD and the law firm Metis.