Profile
alstria office REIT-AG is a German stock corporation in the legal form of a Real Estate Investment Trust (REIT), which invests in office real estate in the major German economic centers. REITs are long-term portfolio holders of real estate assets and are characterized by solid balance sheet structures and high payout ratios. The legal basis for German REITs can be found in the REIT Act.
As a fully integrated company, we manage our properties throughout their life cycle. From the acquisition to letting, ongoing management, modernization up to the possible sale we possess all expertise around the property.
Our corporate strategy is based on three pillars:
LETTING
We hold real estate for long-term letting. In this way, we achieve stable and predictable rental income that generates steady corporate profits. This profit is the foundation for the distribution of attractive long-term dividends to our shareholders.
MODERNIZATION
We continuously invest in the quality of our properties and create modern office space that will remain attractive for our tenants in the long term. The continuous quality improvement increases the company value permanently.
GROWTH
Through selective acquisitions, we continuously expand our portfolio and generate steady corporate growth. The increase and optimization of our portfolio furthermore creates synergies in the management of our assets.
OURPORTFOLIO
alstria owns and manages a high-quality portfolio of office properties in the major German office centers. Due to our local presence and many years of experience, our team has in-depth market knowledge and develops detailed concepts for each individual building. Modernizing the properties is an substantial part of our integrated business model, on the basis of which we create consistent value.
OURFinancial Structure
We have a solid balance sheet, access to various sources of finance and our business model is very profitable. In recent years, we have built a strong reputation in the capital markets through transparent, reliable and continuous communication and positioned alstria as a solid investment target for investors.
OURTEAM
Committed, qualified and motivated employees are the basis of a successful company. We offer real estate experts, merchants, architects, engineers, designers and many other professions opportunities for their personal development. Our culture is entrepreneurial and collegial, with the aim of exceeding our own expectations.
ManagementBoard
The Management Board manages the operating business and is responsible for the strategic development of the company.
Chief Executive Officer (CEO)
Chief Financial Officer (CFO)
Olivier Elamine
First appointed 2006
Term expires 2022
Personal information Residence: Hamburg, Germany Birthday: October 1972 Nationality: French
Career Olivier Elamine is one of the founding members of alstria and became CEO of the Company in November 2006. Prior to the founding of alstria, he was a Partner of NATIXIS Capital Partners Ltd. (NCP; formerly IXIS Capital Partners) from 2003 to 2006. Here he participated in more than EUR 6 billion of pan-European real estate transactions and led the acquisition of the Barmer and Stadt Hamburg portfolios. In 2003, Olivier Elamine joined the Real Estate Investment Banking team at CDC IXIS as a Director and was one of the founding members of NATIXIS Capital Partners Ltd. In 1998 Olivier Elamine joined Ernst & Young as a consultant in the real estate industry and from 2000 to 2003 he headed the Sales & Leaseback advisory team. From 1996 to 1998, he worked at the French Embassy in Morocco.
Education Olivier Elamine holds a civil engineering degree in Real Estate and Construction from the Ecole National des Travaux Publics de l’Etat, Lyon and a Master in Building and Construction Science from the Institut National des Sciences Apliquées, Lyon.
Other material activities Non-Executive Director at COIMA RES S.p.A. SIIQ Member of the advisory board at Urban Campus Group SAS
as per January 01, 2020
Alexander Dexne
First appointed 2007
Term expires 2022
Personal information Residence: Hamburg, Germany Birthday: April 1965 Nationality: German
Career Alexander Dexne is CFO of alstria since June 2007. Prior to joining alstria, Alexander Dexne was CFO of MediGene AG and General Manager Finance at Olympus Optical (Europa).
Education Alexander Dexne holds a master´s degree (Diplom-Volkswirt) in Economics from the University of Göttingen and an MBA from Massey University in New Zealand.
as per January 01, 2020
SupervisoryBoard
The Supervisory Board appoints the Management Board and is the controlling committee of the Company. Members elected by the Annual General Meeting form the Supervisory Board, whose main tasks are to advise and monitor the Management Board.
Chairman of the SB
Managing Partner, Head of European Real Estate – Brookfield Asset Management
Vice-Chairman of the SB
Managing Partner at Brookfield Property Group
CEO at P3 Logistic Parks s.r.o. Czech Republic
Brad Hyler
Chairman of the Supervisory Board of alstria office REIT-AG
Managing Partner, Head of European Real Estate – Brookfield Asset Management
Member since
2022 (appointed by court)
Term expires
2022
Personal information
Residence: London, United Kingdom
Birthday: 1978
Nationality: US-American
Career
2001 to 2004: Project Manager & Financial Analyst of the Development Division at
The Keith Corporation, NC, USA
2004 to 2006: Associate of New York Transactions & Corporate Services Gruppe
at Jones Lang Lasalle, Inc., New York, USA
2006 to 2011: Vice President for Investments of O’Connor Capital Partners, New
York, USA
Since 2011: different positions at Brookfield Asset Management, London,
United Kingdom, last Managing Partner and Head of European Real Estate
Education
1996 to 1998: Virginia Tech University, Blacksburg VA- Pamplin College of Business, USA
1998 to 2000: B.A. Economics at University of North Carolina in Chapel Hill, USA
Management Board mandates at listed companies in Germany and abroad:
n/a
Supervisory board mandates at listed companies in Germany and abroad and comparable functions (size, internationality and complexity):
Board Member of Aparthotels, a company of the Brookfield Group and the associated Edyn
Board Member of Student Roost, a company of the Brookfield Group
Board Member of Experimental Group, a company of the Brookfield Group
Board Member of Temprano Capital, a company of the Brookfield Group
Other activities
n/a
as per March 1, 2022
Jan Sucharda
Vice Chairman of alstria office REIT-AG
Managing Partner, Brookfield Property Group
Member since
2022 (appointed by court)
Term expires
2022
Personal information
Residence: Toronto, Canada
Birthday: 1960
Nationality: Canadian
Career
1983 to 1987: Project Manager of Toddglen Construction Ltd., Toronto, Canada
1988 to 1997: Vice President at Citibank Canada, Toronto, Canada
1997 to 2005: Senior Vice President for Asset Management of O&Y REIT/O&Y
Properties Inc.,Toronto, Kanada
Since 2005: different positions at Brookfield Asset Management, Toronto,
Canada, last Managing Partner und Global Head of Office
Education
1983: Bachelor of Applied Science (Engineering) at Queen’s University, Kingston,
Canada
1988: Master of Business Administration from York University, Toronto, Canada
Management Board mandates at listed companies in Germany and abroad:
n/a
Supervisory board mandates at listed companies in Germany and abroad and comparable functions (size, internationality and complexity):
n/a
Other activities
Director at Canary Wharf Group Investments Holdings plc, London, United Kingdom
as per March 1, 2022
DR. FRANK PÖRSCHKE
Member since
2021
Term expires
2024
Personal information
Residence: Hamburg, Germany
Birthday: January 1965
Nationality: German
Career
1993 to 1995: Senior Associate at McKinsey & Company;
1995 to 2004: Managing Director at ECE Projektmanagement International G.m.b.H., Hamburg, Germany;
2004 to 2007: Spokesman of the Management Board at Commerz Grundbesitz Investment GmbH, Wiesbaden, Germany (now Commerz Real AG);
2007 to 2011: Spokesman of the Management Board at Eurohypo AG, Eschborn, Germany;
2011 to 2018: initially CEO Germany, then President EMEA Markets at Jones Lang LaSalle (JLL), Frankfurt am Main, Germany;
2018 to 2021: various supervisory and advisory board positions;
Since 2021: CEO at P3 Logistic Parks s.r.o., Prague, Czech Republic
Education
1984 to 1989: Law studies at the University of Hamburg (First State Law Examination)
1990 to 1993: Traineeship (Second State Law Examination)
2011: Harvard Business School (Advanced Management Program)
Management board mandates at listed companies in Germany and abroad:
- n/a
Supervisory board mandates at listed companies in Germany and abroad and comparable functions (size, internationality and complexity):
Member of the Supervisory Board of AUG. PRIEN Bauunternehmung (GmbH & Co. KG) Hamburg, Germany
Other acitivities
n/a
as per September 1, 2021
Portfolio Non-Executive Director
Executive Vice-President at Brookfield Germany
Chair of the Audit Committee of the SB
Chief Financial Officer, Canary Wharf Group
ELISABETH STHEEMAN
Member since
2021
Term expires
2024
Personal information
Residence: Surrey, United Kingdom
Birthday: January 1964
Nationality: German and British
Career
1988 to 2012: Morgan Stanley International, London, United Kingdom (Investment Banking, Global Capital Markets, Real Estate/Private Equity);
2013 to 2014: Global Chief Operating Officer at LaSalle Investment Management, London, United Kingdom /Chicago, USA;
2015 to 2018: Senior Advisor at Bank of England, United Kingdom;
Since 2017: External Member of the Financial Markets Infrastructure Board and (since 2018) External Member of the Financial Policy Committee, Bank of England, United Kingdom.
Education
1982 to 1987: Banking apprenticeship and Graduate Trainee at Vereins- und Westbank AG, Hamburg, Germany;
1985: Bachelor’s degree in business administration, Hamburg School of Business (Wirtschaftsakademie Hamburg), Germany
1988: Diploma in business studies, London School of Economics, London, United Kingdom
Management board mandates at listed companies in Germany and abroad:
n/a
Supervisory board mandates at listed companies in Germany and abroad and comparable functions (size, internationality and complexity):
Member of the Supervisory Board of Aareal Bank AG, Wiesbaden, Germany
non-executive director, Board of Directors, Edinburgh Investment Trust PLC, Edinburgh, United Kingdom
Other activities
- External Member of the Audit and Risk Committee, Asian Infrastructure Investment Bank (AIIB), Peking, China
- External Member of the Financial Markets Infrastructure Board and Financial Policy Committee at Bank of England, United Kingdom
as per January 01, 2022
Karl Wambach
Management Director Brookfield Germany, Berlin, Germany
Member since
2022 (appointed by court)
Term expires
2022
Personal information
Residence: Berlin, Germany
Birthday: 1980
Nationalities: German und US American
Career
2002 to 2003 Graduate Trainee at Bayerische Hypo- und Vereinsbank AG, Munich, Germany
2003 to 2005 Intern Revisor at Hypo Real Estate Bank in Dublin, Ireland
2007 to 2016 different positions at Hines, Berlin, Germany, last Management Director and Head of Asset Management
Since 2016 Executive Vice President of Brookfield Properties, Berlin, Germany
Education
1999 to 2002 Bachelor of Business Administration, St. Edwards University, Austin, USA
2005 to 2007 Master of Business Administration, University of Texas, Austin, USA
Management Board mandates at listed companies in Germany and abroad:
n/a
Supervisory board mandates at listed companies in Germany and abroad and comparable functions (size, internationality and complexity):
n/a
Other activities
n/a
as per March 1, 2022
Becky Worthington
Chief Financial Officer, Canary Wharf Group, London, United Kingdom
Member since
2022 (appointed by court)
Term expires
2022
Personal information
Residence: Berkshire, United Kingdom
Birthday: 1971
Nationality: British
Career
1994 to 1997: Educated as chartered accountant at PriceWaterhouseCoopers (Coopers
& Lybrand), United Kingdom
1997 to 1998: Financial Controller at Britton Group PLC, United Kingdom
1998 to 2012: different positions at Quintin Estates and Development Plc, last
Deputy Chief Executive, United Kingdom
2012 to 2015: Founder and Chief Executive Officer of Lodestone Capital Partners LLP;
United Kingdom
2015 to 2018: Group Chief Financial Officer of Countryside Properties PLC, United Kingdom
2018 to 2019: Group Chief Operating Officer of Countryside Properties PLC, United Kingdom
2019 to 2021: Chief Financial Officer of IQ Student Accomodation, United Kingdom
Since 2021: Chief Financial Officer at Canary Wharf Group, United Kingdom
Education
1990 to 1993: Joint Honours degree Economics and Philosophy, University of Nottingham,
United Kingdom
Management Board mandates at listed companies in Germany and abroad:
n/a
Supervisory board mandates at listed companies in Germany and abroad and comparable functions (size, internationality and complexity):
n/a
Other activities
n/a
as per March 1, 2022
| COMMITTEE | MEMBERS |
|---|---|
| Audit Committee | Becky Worthington (chair) Brad Hyler Dr. Frank Pörschke |
| Nomination & Remuneration Committee |
Brad Hyler (chair) Elisabeth Stheeman Jan Sucharda |
| AUSSCHUSS | MITGLIEDER | |
|---|---|---|
| Audit Committee |
Becky Worthington (chair) Brad Hyler Dr. Frank Pörschke | |
| Nomination & Remuneration Committee |
Brad Hyler (chair) Elisabeth Stheeman Jan Sucharda | |
Profile for the Supervisory Board
The Supervisory Board has issued a profile for its composition:
Report of theSupervisory Board
CorporateGovernance
The core values of integrity, respect, performance, accountability and sustainability are deeply rooted in our corporate culture. Responsible, transparent management and control of the company guarantee the highest standards. Ethical conduct is the indispensable basis for the trust that our investors, tenants, business partners, employees and the public place in our company.
Remuneration
Remuneration of the Management Board
The remuneration system of the Management Board is performance-based and geared towards promoting sustainable company performance. It is systematically depicted in the diagram below.
In consideration of new regulatory provisions from the German Stock Corporation Act (Aktiengesetz) and the German Corporate Governance Code, the Supervisory Board revised the remuneration system for the members of the Management Board with effect as per January 1, 2021 and presented it to the annual general meeting on May 6, 2021 under agenda item 8 for approval. The annual general meeting approved the remuneration system for the members of the Management board with a majority of 85.93%.
Remuneration of the Supervisory Board
The members of the Supervisory Board of alstria office REIT-AG receive for their activity a fixed remuneration that is published on an individualized bases in the financial report. The remuneration is performance-unrelated. It comprises of a fixed remuneration and an also fixed remuneration for the activities in the committees. Attendance fees are not paid.
The structure and amount of remuneration of the Supervisory Board was confirmed by the annual general meeting on May 6, 2021 under agenda item 9 with 99.97% approval.
Articles of Association
The Articles of Association regulate the corporate law basis of our company.
Rules of Procedure for the Supervisory Board
The Supervisory Board has issued Rules of Procedure.
Statement of Compliance
Once a year, the Management Board and the Supervisory Board of alstria declare that the recommendation of the GCGC were compiled with or which recommendations were not and are not being applied, and why not.
April 24, 2022
April 02, 2022
March 2021
December 2020
December 2019
February 2019
February 2018
February 2017
February 2016
February 2015
February 2014
February 2013
March 2012
Corporate GovernanceStatement
The corporate governance statement contains all relevant information on corporate governance practices and a description of the working methods of the Management Board and Supervisory Board and their committees.
February 2022
February 2021
February 2020
February 2019
February 2018
March 2017
March 2016
February 2015
March 2012
March 2011
March 2010
DirectorsDealings
The directors’ dealings include the management’s own dealings in shares or debt securities of the company, which have been notified to the company and to the Federal Agency for Financial Services Supervision (BaFin).
As of February 2, 2022
Overview of the total number of company’s shares held by members of the Management Board and Supervisory Board.
As of March 1, 2022
| OWNER | NUMBER OF SHARES |
|---|---|
| Olivier Elamine | 70,427 |
| Alexander Dexne | 57,653 |
| Brad Hyler | 0 |
| Jan Sucharda | 0 |
| Dr. Frank Pörschke | 0 |
| Elisabeth Stheeman | 0 |
| Karl Wambach | 0 |
| Rebecca Worthington | 0 |
| Inhaber | Anzahl Aktien | |
|---|---|---|
| Olivier Elamine | 70427 | |
| Alexander Dexne | 57653 | |
| Dr. Frank Pörschke | 0 | |
| Elisabeth Stheeman | 0 | |
GCGCode
OnSite
Hamburg
Berlin
Frankfurt
Düsseldorf
Stuttgart
Headquarters
Hamburg Steinstraße 7 20095 Hamburg T +49(0)40 – 22 63 41 300 F +49(0)40 – 22 63 41 310 Directions
Headquarters
Berlin Rankestraße 17 10789 berlin T +49(0)30 – 896 779 500 F +49(0)30 – 896 779 501 Directions
Headquarters
Frankfurt Platz der Einheit 1 60327 Frankfurt am Main T +49(0)69 – 153 256 740 F +49(0)69 – 153 256 745 Directions
Headquarters
Düsseldorf Elisabethstraße 11 40217 Düsseldorf T +49(0)211 – 301 216 600 F +49(0)211 – 301 216 615 Directions
Headquarters
Stuttgart
Reuchlinstraße 27
70176 Stuttgart
T +49(0)711 – 33 50 01 50
F +49(0)711 – 33 50 01 55
Awards
We are proud of our performance and are pleased about the recognition of well-known organizations. Below you will find a selection of our awards.
ZIA
Award
for alstrias
CO2-Concept 2018
S&P Global
Sustainability
Yearbook
Member 2021
EPRA
BPR GOLD
Award
for alstrias
Reporting
