HIH Property Management (HPM), the property management unit of HIH Group, said it is planning to create a new subsidiary providing facility management services this year in a bid to complement its offer to clients.

'In order to be able to acquire bigger portfolios, we would like to offer the total services range and to be present from the most important office locations,' said Thomas Junkersfeld, CEO of HPM.

HPM, which manages 321 properties totalling 2.8 million m2 in Germany, secured several new mandates in 2010 and plans to expand further in 2011. 'We have added among others LaSalle Investment Management and LB Immo Invest to our client portfolio,' Junkersfeld said.

The company is also closing in on a mandate to manage a portfolio belonging to Swiss Life in Munich, he added. In 2010 HPM expanded its offices in Dusseldorf, Munich and Berlin and is now planning to open new offices in the cities of Cologne and Frankfurt am Main.

HPM's mother company, HIH Group, also experienced growth in 2010, with over EUR 1.1 bn of properties traded in the course of the year, nearly twice as much as in 2009. Foreign investment represented 16% of total acquisitions last year.