Berlin Hyp has sold 51 per cent of the shares in its wholly-owned subsidiary OnSite ImmoAgent GmbH to the Capital Bay Group.
OnSite ImmoAgent, launched in 2018, offers a crowd-based inspection service for the property industry, valuers, investors and banks. This service enables customers to generate real-time data along the property life cycle - without having to be on site themselves. The data is collected via a Germany-wide network of agents.
"In Capital Bay, we have found an experienced asset and investment manager who can successfully develop OnSite ImmoAgent with us," says Sascha Klaus, Chairman of the Board of Management of Berlin Hyp. The bank provided the impetus for this by founding the company in 2018. Now the company is entering the next development phase following its market entry. "By cooperating with Capital Bay, the bank and investor can pool their expertise and create synergies," says Klaus.
George Salden, CEO of the Capital Bay Group: "The strategic partnership with Berlin Hyp, one of Germany's largest real estate financiers, is another key building block for us in the digitalisation and acceleration of our transaction processes and business strategy. The required initial indication of properties can be carried out by OnSite ImmoAgent within 48 hours and enables us and other property investors to make a qualified assessment of individual properties or portfolios based on the verified results documentation."