DGAP-News: Diok RealEstate AG / Key word(s): Personnel/Contract
- Supervisory board renews appointments of both executives
- Continuity of the company's future development assured
- Ground laid for further growth
Markus Drews and Daniel Grosch will continue to lead DIOK RealEstate AG for the next three years. The company's supervisory board renewed the appointments of the two management board members of equal rank for another three-year term ending on 30 April 2024.
Arndt Krienen, chairman of the supervisory board of DIOK RealEstate AG commented the decision: "It is good to know that Markus Drews and Daniel Grosch will remain available to the company long-term. Both have done a fantastic job building up DIOK into what it is today. Especially under the difficult circumstances of the coronavirus pandemic in recent months, the real estate portfolio of DIOK has proven remarkably crisis-proof. The commitment to DIOK that Markus Drews and Daniel Grosch have shown and that is reflected in the contract renewals sends a clear message to the market that we continue to follow our set strategy and that we plan, once the worst part of the pandemic is over, to resume the implementation of our growth targets at the same pace as before. By renewing the appointments of our board members, we have put some of the main parameters in place toward this goal."
The value of the office portfolio under the management of DIOK added up to c. 206.3 million euros as of the 2020 balance sheet date. Another 80 million euros worth of assets the company intends to buy are currently undergoing pre-acquisition audits.
More details: www.diok-realestate.de
Diok RealEstate AG (DIOK) is a property company based in Cologne that specialises in German office real estate. The company focuses on building up an attractive portfolio of office properties in good to excellent locations of second-tier cities, occupied mainly by tenants from forward-looking industries in the areas of digitisation, communication, automation and pharmaceutical technologies, for instance. Labour-intensive activities have been outsourced in their entirety to third parties while remaining subject to DIOK's supervision and control. As an active portfolio and asset manager, DIOK thus achieves a steady capital growth and a positive cash flow from day one. In the medium term, DIOK intends to use its well-filled acquisition pipeline to build up a real estate portfolio worth 1 billion euros. As at the balance sheet date of 31 December 2020, the value of the real estate portfolio totalled c. 206.3 million euros. The 2018/2023 corporate bond with the ISIN DE000A2NBY22 that DIOK RealEstate AG issued in September 2018 is traded on the regulated unofficial market (Open Market) of the Frankfurt Stock Exchange.
30.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Diok RealEstate AG
Regulated Unofficial Market in Frankfurt
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