IVG Immobilien
 |
|
| Aktiengesellschaft | |
| Traded as | : IVG |
| Industry | Real estate |
| Founded | 2002 |
| Headquarters | Bonn, Germany |
|
Key people
|
Ralf Jung (CEO), Dietmar Binkowska (Chairman of the supervisory board) |
| Products | Investment in and development of commercial property and underground hydrocarbon storage caverns |
| €256.2 million (2010) | |
| Profit |
 (€8.8 million) (2010)
|
| Total assets | €7.292 billion (end 2010) |
| Total equity | €1.286 billion (end 2010) |
|
Number of employees
|
551 (FTE, end 2012) |
| Website | www.ivg.de |
IVG Immobilien (formerly known as IndustrieVerwaltungsGesellschaft mbH) is a German real estate company headquartered in Bonn, Germany. It is a leading commercial property owner in Germany and other European countries.
The core business of IVG Immobilien AG is acquisition and management of commercial properties in Germany. It holds a private portfolio worth around €3.5 billion and is the largest holder of income-producing office properties in Germany.
The investment company IVG Caverns GmbH focuses on the construction of caverns for storage of crude oil and natural gas, as well as their operation and leasing. Cavern lessees are companies in the energy sector and state oil storage organizations.
The investment company IVG Institutional Funds GmbH is the leading provider and manager of structured real estate products for institutional investors with assets under management of around €11 billion as integrated investment platform with a Europe-wide network of branches and years of expertise, the company offers its investors all services within the structuring and Management of real estate investment products. IVG Institutional Funds focuses primarily on commercial properties in the office, retail and logistics sector in Europe.
As the successor of the former mining business, IVG also owns several brownfield sites. By agreement with the state of Lower Saxony, in April 2014, IVG is obliged to restore or removed such contamination. For this purpose, IVG will provide €2 million annually over the next 15 years for testing and remediation.
IVG was founded in 1916 as a "Montanindustrie" - coal and steel industry - enterprise. In 1951 it was converted into an industrial company whose sole shareholder was the Federal Republic of Germany through the Federal Ministry of Finance. In 1986 the company was converted to a public company and partially privatized. In 1993 IVG was full privatized though a stock market offering.
In 1996, IVG was renamed IVG Holding AG and from 1997 focused on office and commercial property development and ownership. In 2002, after disposing of non-real estate businesses, it was renamed IVG Immobilien AG.
In April 2004, IVG acquired 50.1 percent of Oppenheim Real Estate Investment Company Ltd. (OIC) and, in 2005, IVG acquired 33 gas storage caverns owned by the Federal Republic of Germany in Etzel, near Wilhelmshaven. IVG's interest in OIC increased to 94 percent in 2006/2007 and OIC was renamed IVG Institutional Funds GmbH and integrated into the former IVG Funds.
On 21 February 2007, IVG Immobilien AG and UK investment firm Evans Randall completed their joint purchase of the Gherkin building in London for GB£630 million, making it Britain's most expensive office building. Gherkin went into receivership in April 2014 due to mortgage defaults that stretch back to 2009. The accountancy firm Deloitte has been appointed receiver and says it will conduct a sale of the building.
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Wikipedia