SORAVIA is one of Austria’s largest project developers, based in Vienna, and, through its subsidiary ADOMO, brings together 360° real estate services. In December 2021, SORAVIA/ADOMO acquired 41% of the shares in Brockhoff GmbH. The acquisition of further shares over the next 6 years was also agreed. Eckhard Brockhoff plans to retire when he turns 70. The 64-year-old’s long-term succession plan has earned widespread praise and recognition across the industry.

ADOMO Managing Director Dr. Matthias Wechner and SORAVIA Deutschland Managing Director Stefan Spilker talk about their companies, their growth strategy in Germany, and new opportunities for Brockhoff.

Could you briefly introduce SORAVIA and ADOMO and describe their main areas of activity?

STEFAN SPILKER: SORAVIA is one of the leading real estate groups in Austria and Germany. Its business focuses on district development, privately financed and social housing, office buildings, and hospitality. SORAVIA complements its core real estate project development business with service companies in facility, property, and asset management, as well as investment management. SORAVIA Deutschland was established specifically to develop projects in major German cities and metropolitan areas, and is headquartered in Hamburg.

DR. MATTHIAS WECHNER: ADOMO Beteiligungs GmbH was founded in 2018 to bring together the service companies Stefan Spilker mentioned. Last year, ADOMO generated revenue of around EUR 120 million and currently employs more than 2,200 people across 25 investee companies. Their business areas include building cleaning, pest control, residential property services, property management, real estate marketing and consulting, human resources management, concierge services, painting and flooring, security systems, heating, air conditioning, and energy and building management, including photovoltaics. Brockhoff enriches the portfolio as a commercial real estate broker and strengthens ADOMO’s ambition to provide 360° services for real estate.

How did SORAVIA/ADOMO come to want to invest in Brockhoff?

STEFAN SPILKER: We met Eckhard Brockhoff in Austria several years ago, and over time we built a close relationship of trust and friendship. This led to our first collaboration with Brockhoff on the PARKSTADT MÜLHEIM project. Brockhoff is handling the marketing exclusively, and we are impressed by how quickly the space has been let.

That is how the conversation started, and we realized that investing in Brockhoff would be a win-win situation for both sides. Over the next 6 years, Eckhard Brockhoff will continue to run the company together with Oliver Rottmann, Julia Winteroth, and his management team. At the same time, our investment enables us to consistently advance our growth strategy in Germany.

What does SORAVIA/ADOMO’s growth strategy look like?

DR. MATTHIAS WECHNER: In Austria, ADOMO is already a major player in real estate-related services. We are determined to strengthen this position throughout the German-speaking region and grow in every area—in other words, to provide 360° services around a property. Commercial real estate marketing is an important area in which we have not been active so far.

Our growth strategy is based primarily on organic growth: we want to grow through Brockhoff, especially in the Ruhr region. Brockhoff has an outstanding network and knows the Ruhr region’s real estate market better than anyone else. We are very proud to now be part of this successful company and to continue its story.

STEFAN SPILKER: The Ruhr region has become a highly regarded market for investors. This makes entering the market very appealing to us, as there are still many opportunities to develop exciting projects here. In the region, I have not come across another commercial real estate broker that advised us so comprehensively and with such excellent conceptual ideas. Brockhoff is unique, and we are very much looking forward to working together closely.

How can Brockhoff benefit from being part of SORAVIA/ADOMO?

DR. MATTHIAS WECHNER: We see ourselves as a strategic partner and want to develop the company further over the medium term together with Eckhard Brockhoff and his team. We have extensive expertise across all our service areas, particularly in the residential sector. We have agreed with Eckhard Brockhoff on a long-term plan for the acquisition of further shares, allowing him to retire in line with his wishes.

What does this mean for business partners and employees?

STEFAN SPILKER: Brockhoff generates around 77% of its revenue from longstanding customers, and that will remain the case in the future. The team will also stay in place. Everything will remain as it is!

Thank you for the conversation!