Treveria Asset Management, the German subsidiary of UK investor Treveria, has appointed IC Immobilien's Property Management arm to take over the management of its entire 370-property strong portfolio in the country.

The retail assets totalling some 1 million m2 of space has a value of around EUR 1.4 bn. The assets are primarily located in cities in western Germany.

'The decision to enter into a partnership is because only in a coordinated cooperation can the challenges of asset and property management be coped with,' said Bernhard Fuhrmann, CEO of Treveria Asset Management.