Asset manager Estama has opened an office in Munich in response to growing demand for its services in Germany. The office is the company's first in Bavaria and will be the fifth major regional centre.

Throsten Stoll, managing director of Estama, comments: 'Having made a commitment to providing unrivalled management services, it is vital that we have a presence in all the major regions throughout Germany.'

Growing demand for quality asset management advice in Germany has supported Estama’s expansion during the past six months, in which it has grown its team to 120.

Estama currently manages a portfolio of around 640 properties across Germany, with a combined capital value of EUR 3 bn. Recent high profile instructions include Infrared, LaSalle Investment Management, MGPA and PGREI.