EANS-News: Fair Value REIT-AG
Supervisory Board extends Management Board
mandate of Frank Schaich by another four years
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Board of Directors (Appointments and Changes)
München (euro adhoc) - Supervisory Board extends Management Board mandate of
Frank Schaich by another four years
Munich, July 13, 2012 - The Supervisory Board of Fair Value REIT-AG has extended
the contract of the sole Management Board member Frank Schaich by a further four
years up to September 30, 2016. This extension underlines the successful work of
the Management Board and ensures continuity at the head of the company.
"Since its foundation in 2007, Mr. Schaich has had a substantial influence on
the development of Fair Value REIT-AG and he has successfully guided the company
as sole Management Board member through some difficult capital market conditions
over the past couple of years," explains Supervisory Board Chairman Prof. Dr.
Heinz Rehkugler. "We look forward to continuing the company's successful
development together."
Corporate profile
Fair Value REIT-AG, based in Munich, focuses on the acquisition, leasing,
property management and sale of commercial properties in Germany. At the core of
its investment activities are office and retail properties in German regional
centres.
As of March 31, 2012, Fair Value's share of the total portfolio amounted to
around EUR 222 million. This portfolio had an occupancy rate of 94.2% of the
achievable rents at full occupancy of EUR 19.7 million per annum. As of March
31, 2012, the weighted remaining term of the leases was 5.8 years. Around 44% of
the potential rent relates to retail floor space, 42% to office space and 14% to
other facilities.
Further inquiry note:
{Fair}[HYPERLINK: mailto:Fair] Value REIT-AG
Frank Schaich
Tel. 089-9292815-10
Fax. 089-9292815-15
e-mail: schaich@fvreit.de
end of announcement euro adhoc
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company: Fair Value REIT-AG
Leopoldstraße 244
D-80807 München
phone: +49 (0) 89 9292815 01
FAX: +49 (0) 89 9292815 15
mail: info@fvreit.de
WWW: http://www.fvreit.de
sector: Real Estate
ISIN: DE000A0MW975
indexes: CDAX, Classic All Share, Prime All Share, RX REIT All Share Index,
RX REIT Index
stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, regulated
dealing/prime standard: Frankfurt
language: English
Original-Content von: Fair Value REIT-AG, übermittelt durch news aktuell