TATTERSALL·LORENZ gains minority stake by Berliner Volksbank
TATTERSALL·LORENZ and the Berliner Volksbank (BVB) have resolved to institutionalise their long-standing collaboration, with BVB now participating as a shareholder. In the framework of a capital increase, a 100% subsidiary of the Berliner Volksbank is taking over a minority 25% interest in TATTERSALL·LORENZ Immobilienverwaltung und -management GmbH. The remaining shares remain in the ownership of the founders of the company, Susanne Tattersall and Christian Lorenz (37.5% each). As before, the company management of the Berlin-based SME property manager is still in the hands of Susanne Tattersall.
TATTERSALL·LORENZ provides property management for national and international investors, specific commercial and technical property management, project control and letting management of commercial and residential property. The company has seen massive growth in the last few years. The total lettable area under management is up from 1.2 million square metres in 2016 to 3.4 million in 2019. The objective of the strategic partnership is to lay the foundations for further expansion of the company, digitalisation and potential new locations.
Susanne Tattersall: “BVB's participation will provide us with optimal positioning for further strategic growth and anchor the company in the investor's cooperative financial group. As a result, we are optimally established to take over further institutional services business and to promote the qualification of the company.”
Dr. Caroline Toffel, member of the management board of the Berliner Volksbank and responsible, inter alia, for participation management. “We have observed Tattersall Lorenz's enduring organic growth and are impressed by their professional work in a competitive market. We are delighted to have this strategic partnership with an exemplary, medium-sized Berlin company.”
The team structure, care of clients and the distribution of the locations Berlin, Dusseldorf, Frankfurt am Main, Hamburg, Hanover and Stuttgart are unaffected by the decision.
BVB were advised by Ernst & Young (EY) and lawyer Karin Arnold; TATTERSALL·LORENZ by bdp Hamburg Steuerberatung, Ritterwald Unternehmensberatung GmbH and lawyer Lars Friske, METIS Rechtsanwälte LLP.