Zürich (pta006/13.03.2018/07:00) -
> Kurt Hardt is an expert for the German financial and real estate markets
> His nomination reflects Peach Property Group's position as a major portfolio holder in Germany
> Planned expansion of Board of Directors from three to four members as consequence of the dynamic growth path of the Group
Peach Property Group, an investor specialising in German real estate with a focus on residential property, is planning to further reinforce the Company's strategic overall management and has hence nominated Kurt Hardt (52) as an additional member of the Board of Directors. The Board will be elected by the shareholders on 15 May 2018 as part of the General Meeting in Zurich. Mr. Hardt is a member of the Managing Board of Kreissparkasse Biberach and is a well-known specialist for the German financial and real-estate markets. Kreissparkasse Biberach is Peach Property Group's anchor shareholder.
Reto Garzetti, Chairman of Peach Property Group's Board of Directors, commented: "We are very pleased that Kurt Hardt will be joining our Company's Board of Directors. He is highly competent and has wide-ranging experience on the German market. We believe that this will provide us with valuable inputs for growing our business as well as for the continued expansion of our real estate holdings in Germany. We have already grown dynamically to hold a current total of around 7,000 residential units, and in this respect, have already come to know and value Kurt Hardt's expertise in relation with our Company's financing. Now we are positioning our Company for future growth."
The previous members of the Board of Directors, the current Chairman Reto Garzetti, as well as Peter Bodmer and Dr. Christian De Prati will stand for re-election for a further year of office at the General Meeting. Subject to the shareholders' approval of all the candidates, the board will be expanded from three to four members. As a result, Peach Property Group is bringing its management structures in line with its accelerated operating growth.
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About Peach Property Group AG
Peach Property Group is a property investor and developer focused on investments in Germany and Switzerland. The Group stands for long time experience, competence and quality. Innovative solutions for modern housing needs, strong partnerships and a wide value chain complete the profile of the Group. The portfolio consists of an increasing number of high yield investment properties, typically in B-cities in close reach to metropolitan areas. In addition, the Group develops properties for its own portfolio or for the sale as condominium. Developments for sale focus on A-locations and encompass attractive architecture and high level furnishing for an international clientele. The business activities of the Group cover the entire value chain, from property acquisition and site selection to active asset management and finally to the sale or lease of properties.
Peach Property Group AG is headquartered in Zurich and has its German Group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto Garzetti (President), Peter Bodmer and Dr. Christian De Prati.
For more information, see http://peachproperty.com