PRESSEMITTEILUNG vom 3. December 2018
3. December 2018
MVGM acquires PropertyFirst GmbH
As of 01.01.2019, the Dutch real estate management company MVGM Vastgoedmanagement B.V. (MVGM), has purchased all shares of the PropertyFirst GmbH (PropertyFirst), currently still a wholly owned subsidiary of RGM Holding GmbH. The corresponding contracts were signed recently.
In the Netherlands, MVGM is, as a company specialized in residential and commercial real estate management, similarly positioned as PropertyFirst in Germany. In the residential asset class, the Dutch company based in Rijswijk is the undisputed market leader with around 90,000 managed residential units and 75,000 WEG units. In the asset class commercial real estate, the property manager is roughly positioned at the level of PropertyFirst, with a managed area of approx. 3 million m². The company employs around 900 people at over 20 locations in the Netherlands.
PropertyFirst, based in Bochum, will keep its well-known brand and will continue to operate under the proven leadership of managing director Andreas Flechtner.
Further shared growth
The purchase of PropertyFirst fits into MVGM's growth plans. The main objective in Germany is the expansion of the residential real estate sector. "We are very pleased to have acquired a well-known and broad-based company with PropertyFirst and with our expertise, we want to support the company in its further growth in property management," explains Menno van der Horst, Managing Partner of MVGM. "Many of our clients are active in the Netherlands as well as in Germany. Through the acquisition and cooperation, MVGM will be able to better serve its customers. In addition, we aim for inorganic growth through further acquisitions in Germany. "
Preferred partnership in Facility and Property Management
"With MVGM we have found a new shareholder for PropertyFirst, which focuses on commercial real estate management. The existing shareholders, RGM and Gegenbauer will continue to support PropertyFirst and MVGM in the context of joint contracts. We consider all parties as close cooperation partners for facility management services”, said Fritz-Klaus Lange, Managing Partner of RGM Holding GmbH and CEO of the Gegenbauer Group.
German partner is optimistic
"Our new shareholder is very successful in property management as a core business in the Netherlands," emphasizes Andreas Flechtner, Managing Director of PropertyFirst GmbH. "We look forward to further expand our business in Germany together with MVGM. The business development of the company in recent years is impressive. MVGM is now one of the market leaders in the Netherlands. We will certainly get lots of positive ideas and impulses from our new colleagues and be able to seize the opportunity to continue growing in Germany as well ".
As transaction advisors, Oppenhoff & Partner at RGM and Ritterwald and the law firm Heuking Kühn Lüer Wojtek accompanied the transition for MVGM.
MVGM | www.mvgm.nl
MVGM is the largest real estate manager in the Netherlands. With around 900 employees at over 20 locations, MVGM not only manages the administration, but also assesses and provides comprehensive advice on real estate portfolios. Focusing on different business areas, MVGM is able to offer integrated services with local presence and international experience.
MVGM Wonen (Wohnen) manages 90,000 rental apartments and concludes more than 9,000 leases per year. MVGM VvE operates on behalf of 3,000 owner communities with 75,000 apartments. MVGM Kantoren (commercial) manages 3 million square meters of office and commercial space, and MVGM Shops (Retail) is responsible for 3 million square meters of commercial space. MVGM Vastgoedtaxaties (Expert Opinion) assesses land worth more than 40 billion euros. As the largest real estate service provider in the Netherlands, MVGM serves national and international investors, banks, housing associations, family offices, insurance companies and the public sector.