concarus Real Estate Invest GmbH

What concarus Real Estate Invest GmbH does

Concarus Real Estate Invest GmbH is a Berlin-based, family-owned commercial real estate investor and project developer specializing in value-add retail, office, mixed-use, and light-industrial properties across Germany. Founded in March 2010 by Boris Milkov (Managing Director), Laurenz Stief (architect), and shareholders Michael May and Günter Porth, the company operates as the commercial-property arm of the May & Porth Gruppe conglomerate with headquarters at Kurfürstendamm 178-179, Berlin. The company pursues two investment strategies: (i) acquisition of underdeveloped existing assets or land with short-to-mid-term value creation potential, and (ii) acquisition of large-scale commercial properties for long-term hold and development.

The company's core offering is a vertically integrated real estate platform combining acquisition, project development, asset management, property management, and facility management under one roof. It sources opportunities through direct outreach ([email protected]), inbound offers, and institutional networks including advisors such as Colliers and Savills, frequently acquiring assets out of insolvency, from funds (BGP/INTERNOS, Real I.S., Cerberus object companies, Hamborner REIT AG), or off-market. The active portfolio of 15+ properties spans more than 200,000 m² and includes flagship assets such as the heritage-listed Thiemann-Quartier in Berlin-Neukölln (~53,300 m², 15 buildings), Bürocenter City-Süd in Hamburg (~30,000 m², acquired 2015 for ~€52M), Circoleum in Bad Homburg (~21,000 m²), MEZ Gägelow, Kelheimer Einkaufszentrum, Bahnhof-Center Gelsenkirchen, Haerder-Center Lübeck, and Geschäftshaus LiKe 25 in Essen.

Concarus generates revenue primarily through long-term rental income from blue-chip and government tenants (REWE, Land Berlin/Finanzamt, Fresenius, Kaufland, dm-drogerie, Axel Springer, Lego, Netto, MSA Deutschland), supplemented by capital gains on disposition of repositioned assets to institutional buyers (e.g., sales to LBBW Special Fund in 2022 and to BERENBERG Real Estate Berlin fund in 2021). Current development pipeline includes TQ Weser (~14,800 m² of rental space, building permit received December 2024) and TQ Rix (~24,500 m² BGF, pre-approval received July 2024) within the Thiemann-Quartier, anchored by a long-term Land Berlin lease covering ~18,300 m². The company is privately held by the May and Porth families, with no external institutional or private-equity backing evidenced in available materials.

Name

concarus Real Estate Invest GmbH

Legal name

Concarus Real Estate Invest GmbH

Website

https://concarus.de

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Concarus Real Estate Invest GmbH is a Berlin-based, family-owned value-add investor and developer of German commercial real estate, including shopping centers, office buildings, mixed-use estates, and light-industrial assets, serving blue-chip enterprise and government tenants as part of the May & Porth Gruppe.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment

NAICS

Real Estate Property Managers (53131), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)

akta.pro primary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

akta.pro secondary industries

Commercial Real Estate Asset Management (BPAJAMAB), Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

Keywords

• Commercial real estate investment
• Property asset management
• Retail property development
• Shopping center revitalization
• Value-add real estate

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Property Rental Income: Long-term rental income from tenants in acquired and developed commercial properties including retail, office, and government tenants.
2. Property Value Appreciation: Acquisition of undervalued properties, implementation of development/revitalization strategies, and sale of repositioned assets at higher valuations.
3. Asset Management Services: Active asset management, property management, and facility management services provided to owned properties and potentially to third parties.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Concarus Real Estate Invest GmbH is a Berlin-based commercial real estate investor and project developer that acquires, revitalizes, and manages value-add commercial properties (shopping centers, retail parks, office buildings, and mixed-use developments) across Germany. The company operates a vertically integrated platform spanning acquisition, project development, asset management, property management, and facility management. Core activities include identifying underperforming or development-ready properties, executing revitalization and repositioning strategies, leasing space to enterprise tenants, and disposing of stabilized assets to institutional investors.

Product overview

Concarus Real Estate Invest GmbH is a commercial real estate investor and developer based in Berlin, Germany. The company operates as part of the May & Porth Group and offers a vertically integrated service platform encompassing property acquisition, project development, asset management, property management, and facility management. The core offering consists of commercial real estate investments in retail properties (shopping centers, retail parks, neighborhood centers), office buildings, mixed-use developments, and industrial/light-industrial properties across Germany. Key development projects include the TQ Weser and TQ Rix developments within the Themann-Quartier in Berlin-Neukölln. The company maintains a portfolio of active retail and office properties while continuously seeking new value-add investment opportunities.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Real Estate Investment (Gewerbeimmobilien-Investitionen) Acquisition and investment in commercial properties including shopping centers, retail properties, office buildings, and mixed-use developments across Germany, targeting value-add opportunities and long-term holdings.
• Project Development (Projektentwicklung) Development and revitalization of commercial properties, including refurbishment, repositioning, and new construction of retail, office, and mixed-use real estate throughout Germany.
• Asset Management Active asset management services to optimize property values, tenant mix, and operational performance throughout the property lifecycle for owned and managed properties.
• Property Management
• Facility Management Facility management services for the ongoing operation, technical maintenance, and servicing of commercial properties in the portfolio.
• TQ Weser Development Mixed-use development project in Berlin-Neukölln comprising hotel apartments, logistics space, parking, and office buildings with approximately 14,800 m² rental space, part of the Thiemann Quartier masterplan.
• Haerder-Center Lübeck Inner-city shopping center in Lübeck's old town with approximately 13,500 m² retail and service space and approximately 210 underground parking spaces, acquired from Hamborner REIT AG.
• Geschäftshaus LiKe 25 Mixed-use commercial building in Essen's pedestrian zone acquired from insolvency, featuring retail, fitness, cultural, and office spaces, with planned ESG-compliant renovation by 2026.
• Bahnhof-Center Gelsenkirchen Retail center directly at Gelsenkirchen's main train station and pedestrian zone with approximately 12,800 m² retail and 2,000 m² office/medical space.
• Circoleum Bad Homburg Office complex in Bad Homburg with approximately 21,000 m² rental space and 446 parking spaces, anchored by Fresenius SE & Co. KGaA.
• Bürocenter City Süd (BCCS) Large office building in Hamburg's City Süd with approximately 30,000 m² office space and 450 parking spaces, anchored by Axel Springer and Württembergische Versicherung.
• Thiemann-Quartier Heritage-listed industrial estate in Berlin-Neukölln with approximately 53,300 m² total space, featuring production, office, retail, and leisure areas, with long-term Land Berlin lease of approximately 18,300 m².
• MEZ Gägelow Regional shopping center near Wismar with approximately 20,500 m² rental space and 620 parking spaces, the most important retail center in the region.
• Mühlenberg-Center Berlin Neighborhood shopping center in Berlin-Prenzlauer Berg with approximately 12,000 m² rental space and 160 parking spaces, 100% let with anchor tenant Netto.
• Griesheim-Center Frankfurt
• Allende-Center Berlin Retail and service center in Berlin-Köpenick with approximately 8,500 m² rental space and 246 parking spaces, sold in February 2015.

Quantifiable outcome

• 100% occupancy achieved at revitalized properties including Allende-Center, Mühlenberg-Center, and Griesheim-Center
• +1 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• BIM Berliner Immobilienmanagement GmbH (Land Berlin)coreStrategic or Co-development Partner · 21 September 2022Long-term rental contract signed with Land Berlin (represented by BIM) for approximately 18,300 m² in Thiemann-Quartier, including approximately 7,200 m² for the new Finanzamt Berlin International. Handover scheduled for second half of 2023.
• May & Porth GruppecoreStrategic or Co-development PartnerParent company group based in northern Germany (Lüneburg/Itzehoe). Concarus is integrated into this established real estate group with decades of experience. The group develops retail, office, residential, hotel, and logistics properties, and handles infrastructure development for residential areas.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hamborner REIT AG: German retail and office REIT. Directly comparable: Hamborner sold the Haerder-Center Lübeck to Concarus in March 2025, illustrating the same shopping-center/office investment focus across similar German mid-market assets.
• TLG Immobilien AG: German commercial real estate company focused on office and retail properties in German metropolitan areas. Comparable in its mix of long-WALT office leases with retail anchor tenants and active asset management approach.
• DIC Asset AG: Frankfurt-listed German commercial real estate investor and asset manager covering office, retail, and logistics across Germany. Comparable vertically integrated platform (acquisitions, asset management, fund co-investment) targeting similar mid-market German assets.
• alstria office REIT-AG: German office REIT investing in large German office properties. Directly comparable on the office component of Concarus's portfolio, particularly assets like Bürocenter City-Süd (Axel Springer anchor) and Circoleum (Fresenius anchor).
• Deutsche EuroShop AG: Germany's largest pure-play shopping center investor, focused exclusively on retail real estate in German and European cities. Direct peer given the overlapping shopping-center focus, similar tenant base, and value-add/repositioning activity.
• FCR Immobilien AG: German retail real estate investor specializing in small to mid-sized shopping centers in secondary German cities. Closely comparable business model — value-add acquisitions, active asset management, and opportunistic purchases from distressed sellers.

Broad incumbents

• Commerz Real AG: German CRE investment manager (Commerzbank group) running open-ended funds and special funds with German and European retail/office focus. Comparable as institutional capital that absorbs stabilized assets from value-add operators like Concarus.
• Union Investment Real Estate GmbH: Major German CRE investment manager (part of Volksbanken Raiffeisenbanken group) running open-ended funds active in German retail, office, and mixed-use. Comparable as a large-scale acquirer of repositioned retail assets from value-add sellers.
• Aroundtown SA: European commercial real estate company with significant German office, hotel, and retail exposure. Comparable at the broad-investor level as a large, publicly listed holder of German commercial assets, though more diversified geographically and by asset class.
• Deka Immobilien GmbH: One of Germany's largest real estate investment managers (Sparkassen group), running open-ended real estate funds that invest in retail, office, and mixed-use across Germany and Europe. Represents the institutional buyer-side counterpart to Concarus's value-add strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights7 records

Customer concentration

• Facebookfacebook.com/concarus
• LinkedInlinkedin.com/company/concarus-real-estate-invest-gmbh

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about concarus Real Estate Invest GmbH