DTZ and German property services firm forge JV

The pair have revealed at the Expo Real property show that they are not only forming an alliance to advise on sale and leaseback transactions, but are setting up a fund for third party investors too.

DTZ, the property services firm, and Deutsche RealCorp, have established a joint venture to capitalize on sale and leaseback transactions in Europe.

The pair plan to earn fees for advisory work, but they also want to raise and mange an investment fund to take advantage of opportunities, they said in a statement at Expo Real in Munich.

The joint venture will be called DTZ RealCorp to be owned 50-50 by the firms.

Deutsche RealCorp said in the statement that there was huge potential for sale and leaseback transactions in Germany where 70 percent of large companies own their property.