As of 1 May 2018 Dr Michael Bütter will become successor to the incumbent Chief Executive Officer Sascha M. Wilhelm, who will leave the Company as of 30 April 2018 in best mutual consent. Dr Michael Bütter has more than 18 years of experience in the real estate and private equity industry. He advises CORESTATE as a Member of the Senior Advisory Circle since 2016. The 47-year old is currently a Member of the Extended Management Board as well as Group General Counsel and SVP HR & Communication of the S-DAX of the Frankfurt Stock Exchange listed Scout24 AG and Managing Director of Immobilien Scout GmbH.
As of 1 May 2018 Dr Michael Bütter will become successor to the incumbent Chief Executive Officer Sascha M. Wilhelm, who will leave the Company as of 30 April 2018 in best mutual consent. Sascha M. Wilhelm: “It is a good and appropriate time to hand over a successful Company into new hands. I know and appreciate Michael Bütter and will support him to the best of my ability.” Dr Bütter will hold a prominent management function as CEO within the Executive Board and in particular be in charge of CORESTATE Group’s strategy, international expansion, M&A activities including strategic investments, management of real estate investors as well as client relations.
Dr Michael Bütter has more than 18 years of experience in the real estate and private equity industry. He advises CORESTATE as a Member of the Senior Advisory Circle since 2016. The 47-year old is currently a Member of the Extended Management Board as well as Group General Counsel and SVP HR & Communication of the S-DAX of the Frankfurt Stock Exchange listed Scout24 AG and Managing Director of Immobilien Scout GmbH. Before, he was responsible – as a member of the Management Board (Chief Investment Officer and Chief Legal Officer) of Ferrostaal Group – for the successful exit of the private equity investor. In his function as long-standing member of the Executive Board of Deutsche Annington Immobilien SE (Vonovia SE) as well as its Group General Counsel he lead, amongst others, the 6 billion euro CMBS refinancing and the complex IPO of the later DAX company to success. Dr Michael Bütter serves currently as a member of the supervisory boards of ASSMANN BERATEN+PLANEN AG (Deputy Chairman), ADO Properties S.A. (Head of Audit Committee) as well as TLG Immobilien AG (Deputy Chairman) and is a Member of the German Management Board of RICS. He studied law and economics in Hamburg and Oxford and is a doctor of law.
Micha Blattmann, Chairman of CORESTATE’s Supervisory Board: “We are convinced that Dr Michael Bütter has the management skills and experience to develop CORESTATE Group into an internationally successful investment house in a stable and consistent manner. The diversification of our product range and the ongoing digitalization combined with a balanced consolidation strategy are the primary value drivers of our strategy. We would like to thank Sascha Wilhelm very much for his continued commitment over the past years, with which he has successfully helped to develop CORESTATE into a leading investment manager and co-investor in the real estate sector with excellent prospects.”
Dr Michael Bütter comments his new role: “I am fully dedicated to add value and to expand CORESTATE’s product and international investor base and increase the Company’s value. CORESTATE is extremely well-positioned to further drive the consolidation process within our industry. Jointly with my colleagues on the Executive Board I would like to make CORESTATE the leading real estate investment manager.”
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
Forward-looking statements
This press release may contain forward-looking statements. Forward-looking statements are all statements that are not historical facts and events. This applies wherever there is information about future financial profitability, plans and expectations with regard to the company, growth and profitability as well as economic conditions to which the company is exposed. Statements using the words „should“, „may“, „will“, „believes“, „expects“, „assumes“, „assumes“, „estimates“, „plans“, „believes“, „to the knowledge“, „estimates“ or similar expressions indicate such forward-looking statements. Forward-looking statements are based on current estimates and assumptions made by management to the best of their knowledge. Such forward-looking statements are based on assumptions and factors and are subject to uncertainties, the non-occurrence or occurrence of which may cause the actual circumstances, including the Company’s net assets, financial position and results of operations, to differ materially from or be more negative than those expressly or implicitly assumed or described in these statements. Certain forward-looking statements, while appropriate at this time, may prove to be incorrect. Various known and unknown risks, uncertainties and other factors could cause the forward-looking statements, actual results, financial position, development or performance of the Company to be materially different from those expressed or implied by such statements. Therefore, the Company and its management cannot be held responsible for the actual occurrence of the forecasted developments. It should be noted that the Company assumes no obligation to update such forward-looking statements or to conform them to future events or developments.
