Ivana Maksimović: Property Management transforms real estate into real advantage

CBRE celebrated five years since establishing Property Management department in the SEE region with new projects and a new market expansion

The fifth anniversary of the establishment of the Property Management Department within CBRE's office for Southeastern Europe, the global and regional leader in commercial real estate, was marked by new business successes - the expansion of the portfolio of managed properties and the launch of operations in another country in the region.

– Property management services are an important part of CBRE's global business, where we manage over 19,000 buildings, that is more than 250 million square meters. In addition to the global support in the form of expertise and experience that we share within the Group, it has been a major challenge to establish and launch property management as an independent service provided by an international company for the first time in the region of Southeastern Europe – points out Ivana Maksimović, Head of Property Management and Retail SEE at CBRE, who has been in charge of the department since its inception.

Could you tell us what are the advantages of an external property management service created in this way compared to the common practice of property owners developing this business within their teams and companies?

– When considering the benefits of having your property managed by an external company with international experience, there are several key aspects to consider. International companies bring global property management expertise and experience gained in different markets, at different stages of development. This expertise ensures the implementation of best practice and innovative property management solutions and strategies.

In addition, international companies are highly scalable when it comes to managing large and diverse property portfolios. They can quickly adapt and expand their operations to meet client needs, providing a level of flexibility that can be challenging for in-house investor teams. Outsourcing property management to a specialist external company also provides access to advanced technology solutions, data analysis tools and modern practices and trends. All of this improves operational efficiency and transparency, enabling investors to make timely decisions based on relevant parameters. In addition, specialist international companies have access to a wide network of professionals, vendors and partners. This network can result in cost savings, improved service quality and greater market opportunities for property owners.

Finally, international property management companies tend to have strong compliance processes, risk management protocols and a deep understanding of local regulations in different markets. This expertise can help mitigate risk and ensure compliance for property owners, providing peace of mind and security in property management.

This approach has earned us the trust of clients of different profiles in our markets – international property funds, private investors and joint venture companies. I am particularly grateful to the long-term clients with whom we have expanded our cooperation over the years, not only in terms of the number of properties we manage, as in the case of LogExpert, but also in new markets, such as the STOP SHOP retail parks that we manage in Slovenia since 2022 and in Serbia since the beginning of this year.

In March this year, you launched your services in yet another country in the region?

– That's right, in the last five years we have established property management teams in four of the eight countries covered by CBRE South East Europe. We have teams operating in Serbia, Slovenia, Croatia and, since March this year, Bulgaria, where we provided the client with property management services for a 10,500 square meter office building in Sofia.

We currently manage a portfolio of 33 buildings, that is around 400,000 square meters of retail, commercial and logistics properties, valued more than EUR 500 million, with future growth already contracted until the end of the year.

In 2024, the entire STOP SHOP portfolio of retail parks in Serbia was added to the portfolio we manage, which comprises 14 properties for which CBRE provides integrated property management solutions, including financial accounting services, leasing services, facility management and our team oversees all operational aspects of the property and tenants.

In March this year, the company also took over the property management of Forum 26, a 31,500 square meters Class A office building in the central business zone of New Belgrade, with numerous international and domestic companies as tenants.

In Croatia, we’ve extended cooperation with LogExpert to two additional logistics facilities at the end of last year and we are currently managing three facilities with an area of more than 114,400 square meters, in which nine tenants operate, with further expansion of the cooperation to properties under construction expected by the end of the year.

CBRE also continued to successfully manage the STOP SHOP portfolio of retail parks in Slovenia, the Zona Vranje retail park and the Bridge Plaza office building in the New Belgrade business zone.

In which way have you improved your service during these years?

– A constant challenge in property management is to maximize the efficiency of the assets and the processes that take place within it, by applying innovative solutions.

There is a growing emphasis on ESG segments and sustainability, regardless of the property type. Additionally, there is a rising focus on wellbeing and contentment of employees, occupiers and visitors to the properties we manage, which leads to increasing client demands for a wider range of services than historically standard PM functions. We monitor and anticipate global trends as well as the needs of our clients, enabling them and their tenants to develop their businesses unhindered.

We have also integrated facility management and ESG into our services, offering clients a holistic approach to managing their assets. We have become a kind of ‘one-stop shop’, regardless of the type of property - office, logistics, residential or retail.

Thanks to the information and database that we have as a result of the comprehensive consultancy services that our company provides, our clients, whether they are building owners or tenants, get a much broader insight into the positive practices and solutions that are being applied in the more developed markets of Europe. When we talk about retail real estate, it is precisely the opportunity to represent the interests of owners and tenants (retailers), that allows us to know both sides of the business very well, to understand the business parameters of all participants in the process and to create conditions that are sustainable and successful for all parties in the long term. In addition, our global position and the credibility we have built up with investors and retailers allows us to encourage some of them to expand their business into the facilities we manage, and to encourage and create the conditions for others to expand into new markets in our region.

You have had the opportunity to participate in the development of some of the largest and most important projects in the region?

– In particular, I would like to highlight the current Emonika project, which has started construction in Ljubljana. It is a 100,000 sqm mixed-use project that will redefine the centre of the Slovenian capital, and CBRE has been appointed as exclusive advisor for the leasing of retail and office space, while we are also supporting the project by providing consultancy services for the shopping center segment that is planned as part of the project, with an area of 21,500 sqm and 80 stores.

When you joined the CBRE team, the Property Management department for the South East Europe region was practically born. During these five years, what achievements are you most proud of?

– First of all, I am proud of the team that has grown in five years to 50 members in the four key markets of our region, ready to support our clients every step of the way. It is this team and the culture of our company that allows us to achieve consistent success. I am delighted that some of the most experienced professionals in our markets, with expertise in property management, financial operations and analysis, brokerage and marketing, have recognized the opportunity to develop and grow within our company and our property management team. CBRE's support for its employees, which encourages collaboration and growth, as well as an emphasis on work-life balance, enables each employee to grow both personally and professionally. When you are valued by your company, you take pride in the results you achieve, and client satisfaction, which is our primary focus, is greater.

CBRE d.o.o. Beograd

CBRE

LogExpert

STOP SHOP retail parks

Emonika

Forum 26

Ivana Maksimović

Property Management

international real estate funds

ESG segments

Facility Management