German real estate service provider Grossmann & Berger and private bank Ellwanger & Geiger have launched the new nationwide service provider German Property Partners (GPP), which targets German and international clients.
Düsseldorf-based Anteon Immobilien will be a partner in the new network.
GPP will offer services in the areas of real estate investment and commercial letting in Germany. Core services will include property investment consultancy and advisory for commercial property lettings. Additional services will consist of, among other things, research in the “Big Seven” cities, property management, banking and financial services, as well as fund and asset management.
The new networks will compete with international operating real estate agents but the GPP partners are convinced that the traditional background of the partners, the experience of its employees and long-established network with local companies as well as its banking background will attract potential clients.
Although the German market is dominated by local investors, the partners of the new service provider will also target international companies such as Asian investors, which are currently showing increased interest in European investments.
German Property Partners is planning to operate offices in the big seven cities in Germany and has already opened branches in Hamburg, Berlin, Stuttgart and Munich. Initial talks with potential partners in Frankfurt am Main and Cologne are already under way, said the partnership.
