Merger for property management firm

Dublin: Otus Asset Management, which manages commercial property in Germany on behalf of Irish and British investors, is to merge with IGP Immobilienmanagement.

From the start of next year the company will operate as Otus Management and will provide asset and consulting advice to a portfolio of retail, office and industrial property assets with a value of more than €400 million on behalf of investors in Ireland, Britain, Germany and Denmark.

Otus, which already has offices in Dublin and Berlin, will be opening an additional branch in the west of Germany in late 2011, to extend its specialised property services to meet growing demand from clients in the “Big 6” cities of Hamburg, Munich, Cologne, Frankfurt and Dusseldorf.