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First half of 2020: 3PM Services increases managed space to over 700,000 sqm

3PM Services GmbH (3PM Services) has grown significantly in the first half of 2020 – both in terms of the managed portfolio and the team. Since the beginning of the year, the company has added twelve new mandates with a total lettable area of 345,000 sqm. The 112 properties are located in Berlin, Frankfurt am Main and Munich, among other places. At the end of June, the company managed a total of 138 properties with around 712,000 sqm of office and commercial space across Germany. Compared to the same period last year, 3PM Services was thus able to almost double the space under management.

The company’s largest clients in the first half of 2020 included x+bricks, PGIM Real Estate (PGIM) and Peakside Capital (Peakside). For the supermarket investor x+bricks alone, for which 3PM Services had already worked before, several property management mandates were added for a total of 51 grocery stores across Germany and thus a cumulative area of around 67,000 sqm. Existing client PGIM also extended its cooperation with 3PM Services. The asset manager mandated the company for four additional locations, including Hanauer Landstrasse 150 in the mixed-use new construction project Lindley Quartier in Frankfurt am Main and the Parkside Gallery in Berlin. A new client since the first half of 2020 is the fund and investment manager Peakside, which commissioned 3PM Services with the commercial and technical property management for 20 office properties in the Omega portfolio, among other things. The properties in major German cities and conurbations cover a total of 210,000 sqm.

As the number of mandates grew, so did the team at 3PM Services. Since the beginning of the year, eleven employees have joined the team in Berlin and Frankfurt am Main. At the end of June, the company, which was launched in 2016, had a total of 31 employees. This means that the team has grown by around 55 per cent compared to the same period last year.

Antje Lubitz, Managing Director of 3PM Services, says: “We were able to further expand our business in the first half of the year despite the COVID 19 pandemic. I am very proud of the performance of our team. In the second half of the year, in addition to further growth steps, we are concentrating primarily on the topic of quality management. Our performance continuously improve our performance to provide the best service to our customers is the most important driver for us.”

Image: PGIM Real Estate

About 3PM Services GmbH

3PM Services GmbH is a real estate service company headquartered in Berlin. Founded in 2016, the company covers the entire real estate life cycle and offers national and international fund and investment managers, asset managers and project developers various services in the areas of property management, project management and accounting. In doing so, 3PM Services looks after all types of buildings in the asset classes office, retail, hotel & leisure and logistics throughout Germany and covers all risk classes from value-add to core investments.

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