The secretive Mann group, which in the 1990s exited theGermany-wide Mann Mobilia furniture group founded in the 1980s andthe Wertkauf chain to WalMart, owns properties across the worldwith a focus on the US (Texas, New York) and Germany. The Manngroup built, post WW II by Hugo Mann who died in 2008 worth over $3billion, is now run by his son Johannes Mann. Also owning theWesthafen and Citibank buildings in Frankfurt, its acquisition ofthe outstanding share package from Solidas 3, the holding firm ofthe former Sal. Oppenheim partners, is subject to approval fromGermany's antitrust agency.


"The investment of this dedicated and experienced real estateinvestor is a great sign of confidence in the strategic realignmentof our company" commented IVG CEO Gerhard Niesslein. IVG sharesclimbed slightly more than $8.08 after the news. IVG manages assetsworth $31 billion in 18 German and European cities. It ownsproperties with a market value of $6 billion, and manages theremainder in a funds division.

AllanSaundersonis a managing editor of PropertyInvestor Europe and a contributor to

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.