Frankfurt, 5 June 2020. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, today elected a new Supervisory Board at its online Annual General Meeting. Dr. Georg Allendorf, Dr. Gabriele Apfelbacher, Timothy Blackwell, Marc Drießen and Olaf Klinger have been appointed members of the Supervisory Board. At the subsequent constituent meeting, Dr. Georg Allendorf was unanimously elected the new Chairman of the Supervisory Board, Timothy Blackwell as his Deputy and Olaf Klinger as Chairman of the Audit Committee.
Dr. Georg Allendorf comments: “I am very much looking forward to bringing my previous experience in institutional real estate and asset management to such a dynamic company. Despite the current challenges that CORESTATE also has to deal with responsibly, I believe that the fundamental market drivers such as urbanization, demographic changes, demand for contemporary living space and, above all, the continuing high demand for profitable investment solutions in a zero-interest environment are fully in tune. In particular, larger companies who provide innovative and tailored product answers in addition to professional service will emerge from this crisis significantly stronger.”
Lars Schnidrig, CEO CORESTATE: “The extensive and long-standing expertise of our new Supervisory Board members will provide us with important strategic impetus in the future. Furthermore, the enlargement of the Supervisory Board goes hand in hand with a consistent evolution of our standards in corporate
governance and transparency.” Schnidrig adds: “Today’s step of not paying a dividend for the past fiscal year as a one-off event was not easy for us, however it does ensure the necessary security and entrepreneurial flexibility for the coming quarters. This will allow us to position CORESTATE in the best possible way for the period after the crisis so that it can then return to its accustomed attractive levels of growth and profitability.”
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
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