Cologne-based Corpus Sireo Asset Management Commercial has won a mandate to manage a three-property portfolio.
The appointment has been made by three receivers, and Corpus Sireo will co-ordinate work with credit servicer Hatfield Philips International.
The properties, have a total area of 65,000 m2 and include two office complexes in Saarbruecken and a hotel in Erlangen. Corpus Sireo said in a statement that it now plans to stabilise the portfolio, increase potential values and then market the assets.
“We are delighted to have acquired another account and look forward to proving our expertise in the distressed asset management area,” said Tim Brueckner, Corpus Sireo’s executive director in charge of the portfolio.
