Cording wins property management instruction for GxP Portfolio28 September 2017
The Cording Real Estate Group (Cording), the Northern European real estate investment and asset management firm concentrating on Germany, the UK and the Benelux countries, has been instructed by GxP German Properties to carry out property management on behalf of the company's commercial property portfolio.
The GxP portfolio comprises of nine office properties, with a total value of around €116 million. It consists of Core+ and Value-add properties in metropolitan regions and selected German 'B' cities, including Frankfurt, Stuttgart, Hanover and Dresden. The properties have a combined total lettable area of around 80,000 sq m.
The company's strategy is to generate attractive and sustainable rental income from the properties by active portfolio management.
Frank Ritschek, Head of Property Management at Cording, comments: "Our manage-to-core approach will ensure optimal management of the properties. The objective, working together with GxP, is to further develop the assets successfully and sustainably, while retaining the existing tenants. Our rigorous approach to management, combined with on-site presence, has already been proven in many other projects."
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