CONSUS Real Estate AG: Consus integrates CG Gruppe – Expansion of leading market position. Integration of CG Gruppe into Consus is progressing.
- Jens Jäpel becomes new CEO of CG Gruppe
- Founder Christoph Gröner moves to Supervisory Board
- Further expansion of leading market position in strategic partnership with ADO and ADLER.
Consus Real Estate Aktiengesellschaft (“Consus“) will cooperate even more closely with CG Gruppe Aktiengesellschaft (“CG Gruppe“) in its operative business. CG Gruppe has been a subsidiary of Consus since 2017 and focuses on district development as well as the development and construction of residential real estate in urban areas. This strategic orientation will remain in place, however, as part of the ongoing integration process CG Gruppe will be renamed Consus RE AG.
The founder and long-time CEO of CG Gruppe, Christoph Gröner, left the Executive Board and moved to the Supervisory Board on March 20, 2020. Consus will continue to hold 75 percent of the company and Christoph Gröner the remaining 25 percent, continuing to be associated with the company as a shareholder and a member of the Supervisory Board. At the same time Jens Jäpel was appointed as the new CEO of CG Gruppe. He will be supported in the management of the company by Jürgen Kutz as Chief Operation Officer (COO) and Deputy CEO and Theodorus Gorens as Chief Financial Officer (CFO). Parallel to his position as CEO of the CG Gruppe, Jens Jäpel will be Chief Development Officer (CDO) of Consus and join the Management Board of Consus. Together with Theodorus Gorens, who is also a member of the Consus Management Board, the integration and realization of synergies will be driven forward even more strongly on the basis of these dual functions. The new Management Board aims to make the structures of CG Gruppe transparent and to optimise operational processes in close cooperation with Consus.
“Due to the further integration of CG Gruppe and the dual function of Jens Jäpel (CDO of Consus Real Estate AG) and Theodorus Gorens (CRO and Deputy CFO of Consus Real Estate AG) it is now possible for us to optimally leverage synergies within the Group and thus ensure the long-term success of Consus Group. We are looking forward to working even more closely with CG Gruppe in the future and to sustainably secure our success as the largest real estate developer in Germany”, says Andreas Steyer, CEO of Consus Real Estate AG.
Consus plans to further consolidate its role as a leading real estate developer in the German market and to expand its strengths in both construction expertise and the digitalisation of construction processes. From the planning and implementation of the construction project to the management of the property, Consus offers its partners a comprehensive range of services that will continue to add value to a wide variety of projects.
The aim of Consus is to rethink property development and management. The strategic partnership with the real estate companies ADO Properties S.A. (“ADO“) and Adler Real Estate Aktiengesellschaft (“ADLER“) will provide Consus with a variety of options and advantages. The merger of ADO and ADLER will create one of the largest listed residential real estate companies in Europe with a high-quality portfolio, comprising a total value of EUR 8.5 billion. As a real estate developer, Consus will play a decisive role in the further development of the new company’s portfolio in the most important German metropolitan areas.
Based on the strategic partnership, Consus benefits from access to larger pools of capital and more attractive financing conditions. In addition, Consus can provide a more comprehensive range of services from development to leasing of real estate, thus expanding and diversifying its business model. Consus will contribute its attractive project development pipeline to the partnership and thus, together with ADO and ADLER, actively counter the housing shortage in major German cities.
About Consus Real Estate AG
Consus Real Estate AG (“Consus“), with its headquarters in Berlin, is the leading real estate developer in the top 9 cities in Germany. As of 30 September 2019, Consus‘ development portfolio had a total development volume (GDV) of EUR 10.3 billion. Consus focuses on the development of neighbourhoods and standardised multi-storey residential construction, which are sold to institutional investors through forward sales. Due to its own construction expertise and the digitalisation of construction processes, Consus operates along the entire value chain of real estate development. Consus provides the realisation of projects from planning and execution to handover, property management and related services through its subsidiaries CG Gruppe AG and Consus Swiss Finance AG. The shares of Consus are included in the scale segment of the Frankfurt Stock Exchange and the m:access segment of the Munich Stock Exchange and are traded via XETRA in Frankfurt, among others.
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