GENEBA
news releases


28
Mar.
2014

GENEBA PROPERTIES LAUNCHED AS NEW COMMERCIAL REAL ESTATE COMPANY

Geneba’s management consists of Dr. Wulf Meinel as Chief Executive Officer and Mr. Martien van Deursen as Managing Director. Geneba´s Supervisory Board consists of Dr. Jochen Scharpe (Chairman), Gabriel de Alba, Marian Hogeslag, Gerrit Littel and Jörn Stobbe.

 

Geneba has taken on the healthy and income-producing assets of the real estate portfolio of Homburg Invest Inc. (“HII”). Creditors of HII who have chosen to become shareholders in Geneba will receive shares in Geneba. International investment fund manager The Catalyst Capital Group Inc., on behalf of funds managed by it, exercises control and direction over approximately 45% of the outstanding shares of Geneba. The shares in Geneba will be admitted to trading at NPEX (www.NPEX.nl). 

 

Geneba’s strategy
Geneba’s strategy is focused on excellent stewardship, creating a solid real estate company for investors, tenants and lenders in the long term. Geneba’s management at this stage focuses on further optimising the property portfolio and the financial position, establishing a solid and sustainable corporate structure and strengthening its relationship with its investors, tenants and debt and equity providers.

Wulf Meinel, CEO of Geneba comments: “Today is an important day for both our company and our stakeholders, because we can now start the realisation of our strategy.  We will do so with a very thorough approach, a realistic market view and with a long term perspective for the company. We are pleased that the AFM has expressed its confidence in the soundness of the company and its management by issuing Geneba an AIFMD licence earlier this month.  We look forward to working in the best interest of the company and all our stakeholders.”

 

Geneba was granted the AIFMD-license by the Netherlands Authority for the Financial Markets (Autoriteit Financiele Markten, or “AFM”) on 7 March 2014, after a thorough screening which confirms that the company and its management are compliant with the new strict European rules for alternative investment funds. Amongst the key measures under the AIFMD regulations is the requirement to appoint an independent third party as a depositary. Orangefield (Netherlands) B.V. will act as depositary for Geneba.

 

 

About Geneba

Geneba Properties N.V. is a new European commercial real estate company, incorporated in 2013 and based in Amsterdam, the Netherlands. The company manages a property portfolio of €584 million, as per valuation September-December 2013 by international commercial property advisor DTZ Zadelhoff and Ober-Haus Real Estate Advisers. The portfolio consists of long-term leased commercial real estate located in Germany, the Netherlands and the Baltic states (Estonia, Latvia and Lithuania). Geneba’s shares will be admitted to trading at NPEX. Geneba is subject to the supervision of the Netherlands Authority for the Financial Markets. The company holds all licenses that are necessary to operate in Europe.

 

Geneba has applied to the securities regulatory authorities in Canada to cease to be a reporting issuer in each of the provinces and territories of Canada. Upon granting of such relief by the applicable Canadian securities regulators, Geneba will cease to be a reporting issuer or the equivalent in any jurisdiction of Canada.


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