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ADLER Real Estate AG: Management Board expands to two members

DGAP-News: ADLER Real Estate AG / Key word(s): Change of Personnel

2015-12-17 / 12:27

The issuer is solely responsible for the content of this announcement.


Corporate News:

ADLER Real Estate AG

Management Board expands to two members

- Arndt Krienen appointed to the ADLER Management Board

Hamburg, 16 December 2015. Effective in January 2016 the Management Board of ADLER Real Estate AG will be extended to two members. Newly appointed to the Management Board for a term of three years has been Arndt Krienen who will also remain on the Management Board of Westgrund AG which was acquired in 2015. Together with Axel Harloff, long-standing board member of ADLER Real Estate AG, he will head the SDAX-listed company. In recent years ADLER has significantly expanded through the acquisition and takeover of various real estate portfolios and companies, resulting in greatly increased business scope, assets and prominence in the capital markets. The reinforcements at Board level will help to meet the growing managerial challenges.

Krienen's future main responsibility will be Asset Management amongst other duties.

"With this decision, we are responding to the fact that ADLER has grown into a new dimension over the past few years. At the same time, we consider it of the utmost importance to ensure a high level of personnel continuity in such a period of growth", said Dr. Dirk Hoffman, Chairman of the Supervisory Board of ADLER Real Estate AG.
 

About ADLER Real Estate AG:

ADLER Real Estate AG, headquartered in Frankfurt and with its administrative headquarters in Hamburg, focuses on the acquisition, management and administration as well as privatisation of residential property. ADLER invests primarily in portfolios or participations of residential real estate companies with properties predominantly situated in B locations in German conurbations that achieve a positive cash flow and can offer a sustained value appreciation potential.

The ADLER subsidiary, ACCENTRO Real Estate AG, is one of the largest privatisers of residential property in Germany. ACCENTRO markets suitable residential properties from the ADLER Group's portfolio on a targeted basis, and also brokers individual apartments on behalf of third parties to owner-occupiers and investors who for example are seeking to create a quasi-pension income. ADLER holds a 24.79 per cent stake in conwert Immobilien Invest SE, Vienna, one of the leading real estate companies in Austria. Over 80 per cent of conwert's property portfolio is located in A-listed cities in Germany.

With a portfolio of over 50,000 residential and commercial units, ADLER is among the top five largest listed German residential real estate companies in Germany. In addition to the listing on the FTSE EPRA / NAREIT Global Real Estate Index in London and the GRP General Index, shares in ADLER are also listed in the small cap index SDAX of the Deutsche Börse.

For enquiries please contact:

PRESS: german communications dbk ag
Jörg Bretschneider
Milchstr. 6 B, 20148 Hamburg
Tel.: 040/46 88 33 0, Fax: 040/47 81 80
presse@german-communications.com

INVESTOR RELATIONS: Hillermann Consulting
Christian Hillermann
Poststraße 14, 20354 Hamburg
Tel.: 040/32 02 79 10, Fax: 040/32 02 79 114
c.hillermann@adler-ag.com


2015-12-17 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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