In 1970, Walter Riedl founded his own estate agency in Munich. Initially it operated in the area of residential and commercial properties. His son, the present managing director, Martin Riedl took over in 2004 to run the medium-sized company in the second generation. Under the new company name of "IGENUS Immobilien" the property specialist, with its head office close to Munich's Theresienwiese, concentrates exclusively on commercial properties. The team of ten of this expanding company handles over 1,000 properties every year, providing consulting services to clients from mid-sized companies to enterprises with workforces numbering some 500 employees.