Colonia Real Estate AG
Colonia Real Estate AG: Service segment strengthened through merger of Colonia Real Estate Solutions GmbH with LARUS Asset Management GmbH
Colonia Real Estate AG / Key word(s): Miscellaneous Service segment strengthened through merger of Colonia Real Estate Solutions GmbH with LARUS Asset Management GmbH – New company POLARES Real Estate Asset Management GmbH is Germany’s fourth-largest asset manager – Service segment to specialise in commercial real estate Cologne, July 19, 2011 – Colonia Real Estate AG (Colonia in the following) announces the merger of its subsidiary, Colonia Real Estate Solutions GmbH, with LARUS Asset Management GmbH (LARUS in the following). The new company will do business as POLARES Real Estate Asset Management GmbH (POLARES REAM in the following) under the management of Michael Amann and Timo Wolf. The merger allows for leveraging synergies and adds commercial property management to the services offered by the segment. POLARES REAM is the fourth-largest provider measured by the real estate volume of commercial property services in Germany. The company is a one-stop provider of a wide range of property services, from transaction and investment management to classic asset management and now commercial property management as well. It specialises in the management of complex multi-regional portfolios held by private and institutional investors. From retail properties and office complexes to logistics centres, POLARES REAM already manages all kinds of commercial real estate. ‘The merger of the two companies under the Colonia umbrella is a bundling of expertise and lays the foundation for continued growth as well as improved profitability from operations. We are expecting to see an increase in profits in this area even in 2011. POLARES REAM is already among the leading Asset and Property Management specialists in the German real estate market,’ says Colonia CEO Rolf Elgeti. The Board of Management Colonia Real Estate AG Listing: regulated market of the Frankfurt Stock Exchange (General Standard) About Colonia Real Estate AG Colonia Real Estate AG is one of the leading listed real estate investment and management groups in Germany with round about 19,000 residential units. Contact: Colonia Real Estate AG Zeppelinstr. 4-8 50667 Cologne, Germany Phone +49 (0)221 71 60 71 0 Fax +49 (0) 221 71 60 71 99 E-Mail: pr@colonia.ag End of Corporate News 19.07.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Colonia Real Estate AG | |
Zeppelinstr. 4 – 8 | ||
50667 Köln | ||
Germany | ||
Phone: | +49 221-716071-0 | |
Fax: | +49 221-716071-99 | |
E-mail: | ir@colonia.ag | |
Internet: | www.colonia.ag | |
ISIN: | DE0006338007 | |
WKN: | 633800 | |
Listed: | Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart; Luxembourg | |
End of News | DGAP News-Service |
132440 19.07.2011 |