14. Februar 2012 
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Christian Wolf joins the executive board of Franconofurt
The supervisory board has appointed Mr. Christian Wolf, one of the two founders of Franconofurt AG to the executive board as of January 2012 where he will be executive board member together with current board member Mr. Metehan Sen.
Christian Wolf owns 33% of Franconofurt AG and is the major shareholder of the company. He will accelerate the expansion of the residential portfolio in Frankfurt so that current net group liquidity will be efficiently invested.
In the last weeks the company has already acquired at attractive prices three multi-tenant houses in the best locations of Frankfurt with the intention to continue acquiring additional multi-tenant houses.
In the fourth quarter of 2011 a major German family office has acquired a stake of 14% in Franconofurt AG.
Franconofurt AG will continue to buy back shares so that NAV will further increase on the remaining outstanding shares. Based on management assumptions the NAV (shareholders equity including hidden reserves) is around EUR 11 per share. The Franconofurt AG book value per share based on acquisition prices (i.e. at cost accounting) at €1800 per square meter stands approx. at EUR 7,80 per share.
Christian Wolf owns 33% of Franconofurt AG and is the major shareholder of the company. He will accelerate the expansion of the residential portfolio in Frankfurt so that current net group liquidity will be efficiently invested.
In the last weeks the company has already acquired at attractive prices three multi-tenant houses in the best locations of Frankfurt with the intention to continue acquiring additional multi-tenant houses.
In the fourth quarter of 2011 a major German family office has acquired a stake of 14% in Franconofurt AG.
Franconofurt AG will continue to buy back shares so that NAV will further increase on the remaining outstanding shares. Based on management assumptions the NAV (shareholders equity including hidden reserves) is around EUR 11 per share. The Franconofurt AG book value per share based on acquisition prices (i.e. at cost accounting) at €1800 per square meter stands approx. at EUR 7,80 per share.
