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.

Brad Hyler_Headshot


Chairman of the SB
Managing Partner, Head of European Real Estate – Brookfield Asset Management
Headshot2


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

2027

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 September 20, 2022

Jan Sucharda

Vice Chairman of alstria office REIT-AG

Managing Partner, Brookfield Property Group

Member since

2022 (appointed by court)

Term expires

2027

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 September 20, 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 20, 2022



Portfolio Non-Executive Director
Wambach-2-highres


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 September 20, 2022

Karl Wambach

Management Director Brookfield Germany, Berlin, Germany

Member since

2022 (appointed by court)

Term expires

2023

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 September 20, 2022

Becky Worthington

Chief Financial Officer, Canary Wharf Group, London, United Kingdom

Member since

2022 (appointed by court)

Term expires

2023

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 September 20, 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.

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.

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.

Remuneration

Remuneration of the Management Board

The management board remuneration system is performance-based and aimed at promoting sustainable corporate development. The supervisory board revised the remuneration system for the members of the management board effective January 1, 2022 and submitted it to the annual general meeting on June 10, 2022 for approval under agenda item 9. The annual general meeting approved the remuneration system for members of the management board 2022 with a majority of 99.55%.

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.

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).

Directors Dealings
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

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

Berlin Rankestraße 17 10789 berlin T +49(0)30 – 896 779 500 F +49(0)30 – 896 779 501 Directions

Frankfurt Platz der Einheit 1 60327 Frankfurt am Main T +49(0)69 – 153 256 740 F +49(0)69 – 153 256 745 Directions

Düsseldorf Elisabethstraße 11 40217 Düsseldorf T +49(0)211 – 301 216 600 F +49(0)211 – 301 216 615 Directions

Stuttgart
Reuchlinstraße 27
70176 Stuttgart

T +49(0)711 – 33 50 01 50
F +49(0)711 – 33 50 01 55

Directions

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