Union Investment hands management contracts to Strabag and Apleona

Following an invitation to tender, Union Investment has awarded a property management contract for 150 commercial properties in its Germany portfolio to Strabag Property and Facility Services and toe Apleona Real Estate. Located across Germany, the portfolio is made up of 120 office and commercial properties plus 30 hotels. In all, the 2 million sqm have a combined value of approximately €7bn. After a detailed assessment of 25 potential property management partners, Union Investment opted for a new 2+2 service provider strategy. B&L Property Management and Tattersall Lorenz Immobilienverwaltung und -management will provide additional regional support in North and South Germany and Central Germany.