Colonia Real Estate AG / Miscellaneous
14.04.2010 11:42
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Personnel changes at CRE Group resulting from the reorganization of the
services area
- Colonia Real Estate AG increases its holding in CRE Resolution GmbH to
100%
- All operating service areas to be integrated into one comprehensive
service platform
- Changes to the management of CRE Resolution GmbH
Cologne, April 14, 2010 - As part of the reorganization of the service area
of the CRE Group, Colonia Real Estate AG is to increase its holding in CRE
Resolution GmbH as of June 30, 2010 from 75.47% to 100% pursuant to the
notarized purchase contract
In future, all services offered by the CRE Group will be integrated to form
one comprehensive service platform. At present, the various service areas
are represented on the market by the individual subsidiaries. CRE
Resolution GmbH covers transaction consulting as well as asset and
portfolio management, CRE Accentro GmbH offers comprehensive services for
marketing residential real estate and our subsidiary, CRE Wohnen Service
GmbH, focuses on efficient property management. In order to create uniform
standards, clear responsibilities and, in particular, to take greater
advantage of synergy effects, all service companies belonging to the CRE
Group are to be brought together under one roof.
This will allow the CRE Group to offer almost the entire range of services
related to portfolio real estate. As a result, our existing and new
customers will be able to obtain all products from one source or to request
customized individual services.
In view of this structural change within the CRE Group, the managing
partners Christoph Wittkop and Maximilian Isenberg are to leave CRE
Resolution GmbH at the end of April 2010. Eckhard Holländer, who has long
been responsible for the area of asset management for residential real
estate, will assume responsibility as general manager for this area of CRE
Resolution GmbH. We have appointed Michael Amann to manage the area of
commercial real estate. Mr. Amann, a former partner at Cushman & Wakefield
Germany, is a new member of the company's management. At Cushman &
Wakefield Germany, Mr. Amann was responsible for establishing real estate
management and was head of the Frankfurt branch.
Stephan Rind, CEO of Colonia Real Estate AG, comments: 'By structurally
merging the service companies under one roof, we aim not only to take
advantage of internal synergies but also to provide improved and more
efficient support for our customers. We very much regret the retirement of
the two managing directors, Christoph Wittkop and Maximilian Isenberg, but
we are proud and confident that we will be able to establish and implement
our joint goal of realigning the CRE service platform with the help of two
such experienced real estate specialists as Mr. Holländer and Mr. Amann.'
About Colonia Real Estate AG
CRE AG is one of the leading listed real estate investment and management
groups in Germany with round about 19,000 residential units and EUR 2.1 bn
Assets under Management.
The CRE business model is based on two columns - the investment and service
segment. The investment segment concentrates on high-yield residential
property portfolios held for the company's account and opportunistic real
estate co- investments in commercial and residential properties together
with institutional partners. The service segment comprises our CRE Asset
Management and Residential Property Resale division. CRE Asset Management
is specialized in tailor-made solutions and the sustainable repositioning
of complex residential and commercial real estate portfolios. The focus is
on yield optimization and realizing long-term appreciation potential.
Management Board
Cologne, 14. April 2010
Colonia Real Estate AG
ZeppelinstraÃe 4-8
D - 50677 Cologne
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE0006338007
SIN: 633800
Contakt
Claudia Kellert
Head of Investor Relations & Kommunikation
ZeppelinstraÃe 4-8, 50667 Cologne, Germany
Tel +49. (0)221. 71 60 71-0, Fax +49. (0)221. 71 60 71-99
ir@cre.ag
Contact:
Claudia Kellert
Head of Investor Relations and Communication
Colonia Real Estate AG
Zeppelinstr. 4-8
50667 Cologne, Germany
Phone +49 (0)221 71 60 71 0
Fax +49 (0) 221 71 60 71 99
E-Mail: pr@cre.ag
14.04.2010 11:42 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: Colonia Real Estate AG
Zeppelinstr. 4 - 8
50667 Köln
Deutschland
Phone: +49 221-716071-0
Fax: +49 221-716071-99
E-mail: ir@cre.ag
Internet: www.cre.ag
ISIN: DE0006338007
WKN: 633800
Indices: SDAX, GPR 250, MSCI Germany Small Cap Index, FTSE EPRA/
NAREIT, E&G DIMAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hannover, Düsseldorf, Hamburg, Stuttgart
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DGAP-News: Colonia Real Estate AG: Personnel changes at CRE Group resulting from the reorganization of the services area
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