Corporate News

30/10/2007 | Corporate News

Fair Value's Supervisory Board appoints Manfred Heiler as new Managing Board member

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  • New CIO Manfred Heiler will be responsible for strategic asset and portfolio management
  • Second management tier reinforced with Janpeter Lassen as head of Asset and Portfolio Management

 

Munich, October 30, 2007 – Fair Value's Supervisory Board has appointed Manfred Heiler (63) as a second member of the Managing Board as of December 1, 2007. As Fair Value's Chief Investment Officer, the law graduate will be responsible for Strategic Asset and Portfolio Management as well as Investments and Disinvestments. Mr. Heiler has more than 30 years' experience in international real estate markets, which he will contribute to his new position.

Manfred Heiler was the managing director for Düsseldorf-based Commerz Immobilien GmbH for the past 13 years. Prior to this, he held positions including head of Thurn und Taxis Real Estate Division and managing director of Dr. Höcherl GmbH & Co. Gewerbebau KG. During the many years of his career, he has worked in all areas of the real estate value chain. This includes acquiring real estate in Europe and North America, (re-)development, asset and portfolio management and the subsequent sale of real estate.

CEO Frank Schaich, who will be responsible for Finance, Accounting, Control and Risk Management as well as Investor Relations and Marketing now that Mr. Heiler has been appointed to the board, is very pleased with the Supervisory Board's decision: "Manfred Heiler has excellent real estate experience – which will allow us to achieve our goals and successfully establish Fair Value as one of the first REITs on the German capital market!"

Mr. Janpeter Lassen (33) will be contributing in this regard with immediate effect - he will reinforce second tier management as head of Asset and Portfolio Management. At the same time, he will leave his previous position as head of the managing board staff department at IC Immobilien Holding AG. Frank Schaich: "Mr. Lassen was there when Fair Value was born! That makes him the ideal candidate to expand our real estate portfolio, to successfully control it and to realize the potential for value growth together with the Managing Board."

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A REIT – Higher Return for Investors

REIT stands for Real Estate Investment Trust. The assets of these listed companies in Germany consist mainly of real estate and investments in other real estate companies.

 

At the international level, REITs have been established for many years. On 1 January 2007, they were introduced in Germany as well.

 

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Fair Value REIT-AG