Jobst Kayser-Eichberg, who died in 2023, was once the boss of Sedlmayr AG. It is one of the wealthiest real estate companies in Munich. picture alliance / dpa | Frank Mächler / Britta Pedersen | Collage: Zoe Janser
Sedlmayr AG’s Berlin real estate business is in crisis: the group had to make a value adjustment of over 42 million euros for its portfolio in the capital. Apparently because of the negative market development. But now Sedlmayr AG has also drawn personnel consequences and is planning to end its collaboration with a dubious business partner.
Sedlmayr AG’s Berlin real estate business is in crisis: the group had to make a value adjustment of over 42 million euros for its portfolio in the capital. Apparently because of the negative market development.
But now Sedlmayr AG has also drawn personnel consequences. As Business Insider learned from shareholder circles, the company removed Till-Oliver Kalähne as managing director of the Berlin subsidiary. Sedlmayr also plans to end the collaboration with his companies.
Research by Business Insider had previously revealed that business partner Sedlmayr had millions paid for construction work that was not carried out – and transferred millions to his own project companies.
It was only in mid-March that research by Business Insider revealed that the real estate empire of Munich-based Sedlmayr AG was in crisis. The billion-dollar company had to make a value adjustment of 42 million euros for its Berlin portfolio, which company patriarch Jobst Kayser-Eichberg had placed in the hands of an external, dubious business partner in 2016. To date, Sedlmayr has justified this with the negative market development.
But behind the scenes of the traditional company, which was once known for its Spaten-Franziskaner brewery, the top management now seems to have recognized a problem in the said business partner and is drawing personnel consequences. As Business Insider learned from shareholder circles, the group is separating from Till-Oliver Kalähne as managing director of the Sedlmayr subsidiary SPG Berlin. According to the commercial register, he was removed from his position with immediate effect on March 21, 2024. According to BI information, Sedlmayr also wants to end the collaboration with Kalähne’s companies BoB Immobilienkonzepte and BoB Planning and Management GmbH. The BoB Group was previously a joint venture partner of SPG Berlin. Kalähne was allowed to continue operating it in parallel.