Aareal Bank

EQS-News: Supervisory Board appoints Dr Christian Ricken as new CEO – Jochen Klösges to leave Aareal Bank Group

Retrieved on: 
Wednesday, April 10, 2024
Deutsche Bank, Real estate, Supervisory board, CFO, Commercial property, Aareal Bank, Business development, University, Software, Commercial, Asset management, International business, LBBW, Treasury, Financial institution, Market

Therefore, the Supervisory Board appointed Dr Christian Ricken as new Chief Executive Officer of Aareal Bank AG from 1 August 2024, subject to customary approvals by the supervisory authority.

Key Points: 
  • Therefore, the Supervisory Board appointed Dr Christian Ricken as new Chief Executive Officer of Aareal Bank AG from 1 August 2024, subject to customary approvals by the supervisory authority.
  • Dr Christian Ricken had also been a member of the Group Executive Committee of Deutsche Bank for several years before joining the Board of Managing Directors of LBBW in 2017.
  • Aareal Bank AG’s Chairman of the Supervisory Board, Jean Pierre Mustier, said: “I am very pleased to welcome Christian Ricken as a new leader for Aareal Bank Group.
  • I’d also like to thank Jochen Klösges on behalf of the entire Supervisory Board for his strong and successful leadership, also in very challenging times.

Pro-invest Group recipient of Aareal Bank’s largest green hotel portfolio loan in Asia-Pacific

Retrieved on: 
Wednesday, April 10, 2024
Holiday Inn Express, NABERS, Environment, Partnership, Aareal Bank, ESG, SPO, Adelaide city centre, Sydney Airport, Central railway station, Brisbane, Water, Social change, Renewable energy

Aareal Bank announced the first ever green loan governed by its Green Finance Framework in July 2021 with the financing of Pro-invest's Holiday Inn Express Macquarie Park in Sydney.

Key Points: 
  • Aareal Bank announced the first ever green loan governed by its Green Finance Framework in July 2021 with the financing of Pro-invest's Holiday Inn Express Macquarie Park in Sydney.
  • Approximately two and a half years later, following a strategic refinancing initiative of Pro-invest Group’s Fund I portfolio, a total of five hotels within this funding forms Aareal Bank’s largest green loan for a hotel portfolio in the APAC region.
  • Aareal Bank acted as the arranger and sole lender in the financing of this hotel portfolio.
  • The success of this green financing initiative has been supported by rigorous assessments and advisories, with Sustainalytics providing a Second Party Opinion (SPO) confirming the alignment of Aareal Bank’s Green Finance Framework with the Green Loan Principles 2023.

EQS-News: Aareal Bank AG AGM on 3 May to include squeeze-out resolution

Retrieved on: 
Wednesday, April 10, 2024
Annual, Atlantic Ocean, Supervisory board, Exercise, Centerbridge Partners, Proxy, Aareal Bank, GE Capital, Supervision, Senior, Annual general meeting

Wiesbaden, 25 March 2024 – Aareal Bank AG has today invited shareholders to its ordinary Annual General Meeting, which will be held on 3 May 2024 as a virtual meeting.

Key Points: 
  • Wiesbaden, 25 March 2024 – Aareal Bank AG has today invited shareholders to its ordinary Annual General Meeting, which will be held on 3 May 2024 as a virtual meeting.
  • A key item on the agenda will be the passing of a resolution on a squeeze-out of minority shareholders.
  • The main shareholder of Aareal Bank AG, Atlantic BidCo GmbH, has further specified its transfer request and informed Aareal Bank AG’s Management Board that it has determined the cash compensation for the intended transfer of shares held by minority shareholders of Aareal Bank AG at €33.20 per registered share.
  • Atlantic BidCo holds approximately 95.50 per cent of the issued share capital of, and voting rights in, Aareal Bank AG.

EQS-News: Strong earnings power allows for active risk management in 2023 – consolidated operating profit expected to rise to between €300 million and €350 million in 2024

Retrieved on: 
Wednesday, March 13, 2024
Cloud, Software, Acquisition, Embrace, Digital Solutions, NPE, Investment, Risk management, DACH, Bank, UTS, Average cost, Growth, IESA, Chapter, Consolidated, Software as a service, Business, Atlantic Ocean, CIR, Common equity, EBT, Aareal Bank, NPL, Anomaly, Housing, Environment

Consolidated operating profit is projected to rise to between €300 million and €350 million in 2024, even though the Bank anticipates continued above-average risk provisions.

Key Points: 
  • Consolidated operating profit is projected to rise to between €300 million and €350 million in 2024, even though the Bank anticipates continued above-average risk provisions.
  • Aareal Bank Group closed the 2023 financial year with consolidated operating profit of €149 million (2022: €239 million).
  • Thanks to its strong earnings power, the Group nonetheless anticipates consolidated operating profit between €300 million and €350 million.
  • The Bank is expected to achieve operating profit of €250 million to €300 million, despite risk provisions projected to remain at above-average levels.

Aareal Bank finances landmark hotel portfolio in London for Starwood Capital

Retrieved on: 
Thursday, February 8, 2024
Starwood Capital Group, Cushman & Wakefield, Knowledge, Collection, Radisson Blu, Aareal Bank, White, White & Case, Pinsent Masons, Acquisition, Financial services

Wiesbaden, 8 February 2024 – Aareal Bank announces its pivotal role in financing the majority of the Edwardian hotel portfolio in London acquired by a controlled affiliate of Starwood Capital Group (Starwood Capital).

Key Points: 
  • Wiesbaden, 8 February 2024 – Aareal Bank announces its pivotal role in financing the majority of the Edwardian hotel portfolio in London acquired by a controlled affiliate of Starwood Capital Group (Starwood Capital).
  • The acquisition adds to Starwood Capital's existing portfolio of European hotel investments, which following the transaction will comprise 47 hotels / approx.10,000 rooms across Europe.
  • Tim Abram, Managing Director at Starwood Capital said, "We are delighted to have Aareal Bank as our partner on the acquisition of this one-of-a-kind portfolio of London hotels.
  • Key players in this transaction include Pinsent Masons and White & Case, serving as legal advisors to Aareal Bank and Starwood Capital, respectively.

Pacific Retail Capital Partners Provides Overview of 2023 Business Activity

Retrieved on: 
Wednesday, January 17, 2024
Commercial Building & Real Estate, Construction & Property, Bridgewater Commons, Gold, Aareal Bank, Heart, Pulse, Architecture, City, Fire, Office, 57th Street, Shop, Acquisition, Gensler, Creativity, Tenant, Calendar, NOI, Vornado, SL Green Realty, Marketing, Park Place Mall, Commerce, Metropolitan Tower, PRCP, Architectural Design, Retail

Pacific Retail Capital Partners (“PRCP” or the “Company”), one of the nation’s leading retail real estate development, investment, management and advisory firms focused exclusively on evolving retail-led real estate, today provided a recap of its business activities in 2023.

Key Points: 
  • Pacific Retail Capital Partners (“PRCP” or the “Company”), one of the nation’s leading retail real estate development, investment, management and advisory firms focused exclusively on evolving retail-led real estate, today provided a recap of its business activities in 2023.
  • This ensures that PRCP delivers retail-led, mixed-use destinations, aligned with each market's unique needs, adding sustained value to the trade area.
  • Cumulatively valued at more than $2.25 billion, these two projects will transform the retail and lifestyle landscape in their respective communities.
  • PRCP’s high-touch marketing services, spanning over 21 million square feet of retail space, are managed through their decentralized marketing platform.

EQS-News: Atlantic BidCo submits demand for squeeze-out

Retrieved on: 
Tuesday, December 26, 2023
Aareal Bank, Aktiengesellschaft, Letter, Security (finance)

The issuer is solely responsible for the content of this announcement.

Key Points: 
  • The issuer is solely responsible for the content of this announcement.
  • Wiesbaden, 11 December 2023 – Atlantic BidCo GmbH ("Atlantic BidCo") today informed the Management Board of Aareal Bank AG that it holds 95.28 per cent of Aareal Bank shares following completion of its delisting offer.
  • Against this background, Atlantic BidCo has submitted a demand, pursuant to section 327a (1) of the German Stock Corporation Act (Aktiengesetz – “AktG”), that the General Meeting adopt a resolution to transfer all shares held by the minority shareholders to Atlantic BidCo against payment of an appropriate cash compensation (squeeze-out under Stock Corporation Act).
  • Atlantic BidCo has indicated that it will inform Aareal Bank of the amount of the cash compensation in a further letter (a so-called ‘specified demand’) once this has been determined.

EQS-News: Atlantic BidCo has secured more than 95% of shares in Aareal Bank AG – Intention to initiate squeeze-out of minority shareholders

Retrieved on: 
Tuesday, December 26, 2023
Frankfurt Stock Exchange, Bank, Atlantic Ocean, FGS Global, CPP Investment Board, Advent International, FGS, Centerbridge Partners, TEL, Cryptocurrency, Holding company, Automotive industry, Aareal Bank

Frankfurt, November 22, 2023 – Atlantic BidCo GmbH (“Atlantic BidCo” or the “Bidder”) has secured more than 95% of the shares in Aareal Bank AG (“Aareal Bank”) and plans to initate a squeeze-out of the remaining minority shareholders to acquire all remaining shares of Aareal Bank.

Key Points: 
  • Frankfurt, November 22, 2023 – Atlantic BidCo GmbH (“Atlantic BidCo” or the “Bidder”) has secured more than 95% of the shares in Aareal Bank AG (“Aareal Bank”) and plans to initate a squeeze-out of the remaining minority shareholders to acquire all remaining shares of Aareal Bank.
  • The management board of Aareal Bank has been informed of this intention by Atlantic BidCo.
  • According to the current status (today 2pm), the public delisting tender offer (the “Delisting Offer”) by Atlantic BidCo to the shareholders of Aareal Bank has been accepted for approx.
  • Thus, the last trading day of the Aareal Bank shares on the Frankfurt Stock Exchange was November 21, 2023.

EQS-News: Aareal Bank arranges refinancing of European portfolio for The Social Hub

Retrieved on: 
Thursday, December 14, 2023
The Social Hub, Security, Growth, White & Case, Plain Green Loans, Social, Arrangement, Henri de Pardieu, Student, Student's Hotel, CBRE, TSH, White, Pinsent Masons, Travel, Work, Aareal Bank, Rabobank, Tourism

Wiesbaden, 27 November 2023 – Aareal Bank announces the successful closing of a € 566 million refinancing facility with The Social Hub (TSH), together with two participating lenders, one of which being Rabobank.

Key Points: 
  • Wiesbaden, 27 November 2023 – Aareal Bank announces the successful closing of a € 566 million refinancing facility with The Social Hub (TSH), together with two participating lenders, one of which being Rabobank.
  • Operated under TSH’s hybrid hospitality concept offering co-working, events, hotel, extended-stay rooms and student accommodation, the cross-border portfolio comprises 13 properties across the Netherlands, Spain, France and the UK.
  • Aareal Bank acted as the Arranger, Agent, and Security Agent of the senior loan, which is classified by Aareal as a Green Loan under its own Green Finance Framework.
  • “We are delighted to establish this relationship with such a unique hospitality brand and operator as TSH,” comments Michelle Weiss, Head of Hotel Properties at Aareal Bank.

EQS-News: Aareal maintains dynamic operating performance in the third quarter

Retrieved on: 
Thursday, December 14, 2023
Bank, Tax, Growth, Digital Solutions, NPL, Loss, IESA, EBA, NPE, PBSA, Aareal Bank, EBITDA, Housing, Investment, Policy, Common equity, Environment, Cryptocurrency, Arms industry

Net interest income for the first nine months amounted to €710 million (9m 2022: €514 million), up 38 per cent.

Key Points: 
  • Net interest income for the first nine months amounted to €710 million (9m 2022: €514 million), up 38 per cent.
  • Net commission income was up by 13 per cent compared to the previous year’s quarter, to €76 million (Q3 2022: €67 million), mainly due to ongoing revenue growth at Aareon.
  • Loss allowance for the third quarter amounted to €102 million (Q3 2022: €63 million), and continued to reflect loan defaults affecting the US office property market.
  • Aareon refinanced the facility provided by Aareal Bank (“Hunting Line”) in the third quarter through external long-term debt.