Changing chairs at AFIAA
At the AFIAA Investment Foundation for Real Estate Investments Abroad, the cooperation with Avadis entered into in 2014 was put to the test. The cooperation will be continued, but there were some personnel changes in the Executive Board and the Board of Trustees.
AFIAA had decided on a strategic cooperation with Avadis in September 2014. In the course of this, the management of AFIAA, which had previously been under the control of the AFIAA Foundation Board, was transferred to Avadis Immobilien AG, a newly founded subsidiary of Avadis.
In the view of AFIAA and Avadis, the partnership had brought initial successes, but different ideas had also emerged about the form it should take, the companies wrote in a statement. The Foundation Board subsequently took up the issue again and, after examining various cooperation options, confirmed the partnership with Avadis by a large majority.
Prof. Dr. Peter Forstmoser, Chairman of the Board of Trustees, did not support this decision and therefore resigned with effect from the Extraordinary Meeting of Investors on March 14, 2016. The Board of Trustees elected Andreas F. Vögeli, partner of the law firm Niederer Kraft & Frey, as the new Chairman. Vögeli is an attorney-at-law as well as a specialist lawyer SAV Construction and Real Estate Law and holds a Master of Science in Real Estate (CUREM). He is a Fellow of the Royal Institution of Chartered Surveyors (RICS) and a member of the Urban Land Institute (ULI).
Stephan Kloess new CEO of Avadis Immobilien
At the same time, the board of directors of Avadis Immobilien AG has appointed a new management team. This step had also become necessary due to different strategic ideas, according to the statement. Dr. Stephan Kloess has taken over the operational management ad interim as CEO, Norbert Grimm has left the company.
Kloess has 20 years of experience in the real estate investment market, including the establishment of real estate organizations for institutional investors, the support of transactions and the restructuring of institutional portfolios. Other members of the Management Committee are Ulrich Kaluscha as Head of Acquisitions, Bardo Magel as Global Head of Aset Management and CFO Reto Schnabel. (ah)
