GxP German Properties AG: New real estate company plans to build up an initial portfolio worth more than €750 million by 2018

News

• Listed company Cleanventure AG renamed GxP German Properties AG
• Future focus on commercial properties in the segments 'Core+'/'Value add'
• Property experts Johannes Meran and Andreas Lewandowski on the Management Board
• Initial plan to build up a property portfolio worth at least €750 million
• Listing sought in the Entry Standard

Hamburg, 27 July 2016 - With a large majority, the Annual General Meeting of Cleanventure AG on 22 July 2016 voted to rename the company to GxP German Properties AG. By virtue of a capital increase that was also resolved, the company will acquire the property firm German Investment Management GmbH (GIMH), which most recently operated under the brand name GxP Asset Management.

The company will in the future concentrate on the acquisition and portfolio and asset management of office and retail properties in Germany. The investment focus comprises attractive commercial properties in the segments 'Core+'/'Value add' in metropolitan regions and selected medium-sized cities in Germany.

Future GxP German Properties will draw on both its many years of experience in the property market and its extensive network. Together with investors, the company has built up an attractive portfolio for which it will handle the asset management. As of mid July 2016, this portfolio comprised high-value properties worth approximately €160 million.

Johannes Meran, CEO: 'For us, the resolutions passed by the AGM mark yet another milestone in the implementation of our growth strategy. As a real estate company listed on the stock exchange, we aim to establish ourselves as a major player in the field of commercial properties in German metropolitan regions and selected medium-sized cities. Operating within this attractive market environment, we plan to build up a high-yield property portfolio worth at least €750 million in the next two years'.

Experienced management

The CEO of GxP German Properties will be Johannes Meran. In this role, he will not only drive forward the strategic development, but also be responsible for the further portfolio expansion and the asset management business.

Meran has extensive experience in both investment banking and the property sector. He started his career at Roland Berger & Partners and Goldman Sachs & Co. before serving as the Chairman of the Administrative Board of Conwert SE between 2010 and 2014. During his tenure, he helped make the company one of the leading listed property companies in the German-speaking world. Following the successful acquisition of KWG Kommunale Wohnen AG, Meran was appointed to the Supervisory Board of KWG Kommunale Wohnen AG. In 2014, Meran founded Equity Partner GmbH, which has, to date, successfully raised some €800 million of equity capital for the acquisition of various German property companies.

CFO Andreas Lewandowski completes the Management Board. The industry specialist has worked in the property sector for more than 20 years, five of which he spent as a Member of the Management Board of listed property companies such as Estavis AG and the Franconofurt Group. He has also headed various divisions of TAG Immobilien AG and served as Head of Transactions at the TAG Group.

The future Supervisory Board of GxP German Properties will be made up of Rainer Schorr, Philip Moffat and Dr Hermann Otto Solms, with Rainer Schorr serving as Chairman of the Supervisory Board. As engineering graduate, he has worked in the property sector for 35 years, during which time he has been responsible for property development projects with a volume of more than €1.5 billion and property acquisitions in excess of €1 billion. Furthermore, he was the CEO and principal shareholder of listed property company Estavis.

At the AGM, Dr Hermann Otto Solms was also elected to the Supervisory Board. He is Vice-President of the German Bundestag (ret.) and Federal Treasurer of the FDP. Alongside his political career as a Member of Parliament and in the executive committee of the FDP, he has business experience and serves on various advisory and supervisory boards.

Some of the resolutions of the Annual General Meeting still require the registration in the commercial register.

Planned build-up of an initial portfolio worth over €750 million by 2018

GxP German Properties plans to build up a high-yield property portfolio worth more than €750 million to begin with in the next two years. For this purpose, the company already boasts an extensive project pipeline and is currently preparing to acquire commercial properties worth approximately €250 million.

The company's strategy is to leverage significant appreciation potential through proactive portfolio management whilst safeguarding stable returns by entering into long-term agreements with tenants. In the process, GxP German Properties pursues a conservative investment strategy, the aim being to ensure that the acquired properties generate positive returns from day one. On the one hand, the company leverages further appreciation potential by systematically reducing vacancy rates and, on the other, by optimising existing relations with tenants.

Planned inclusion in Entry Standard

The company's shares are currently traded in the Open Market section of the Munich and Stuttgart Stock Exchanges under the ISIN DE000A1YCNN8. The company plans to be listed in the Entry Standard segment of the Frankfurt Stock Exchanges in the next few months. In the medium term, the company then strives to switch to the more strictly regulated Prime Standard segment.

About Cleanventure (in future: GxP German Properties AG)
The company concentrates on the acquisition and asset management of office and retail properties in Germany. The investment strategy focuses on attractive commercial properties in the 'Core+'/'Value add' segments in metropolitan regions and selected medium-sized cities in Germany. The company's strategy is to leverage significant appreciation potential through proactive portfolio management whilst safeguarding stable rental return. To this end, it draws on both its many years of experience in the property market and its extensive network. Established in 2015, GxP German Properties has already invested some €160 million in high-value properties across Germany.

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