Peach Property Group positions itself for further growth and appoints Thorsten Arsan as its new CFO
=> Mr. Arsan is a seasoned professional within the publicly listed German residential real estate space – formerly at Vonovia SE and Adler Group
= Focus on credit rating and financing improvement to assist further growth of Peach Property Group
The Board of Directors of Peach Property Group AG, an investor specialising in portfolio management in Germany with a focus on residential real estate, appointed Thorsten Arsan as the new CFO and member of the management of Peach Property Group AG as per September 1, 2021 the latest. Thorsten Arsan will succeed the current CFO, Dr. Marcel Kucher, who will leave the company on the best terms after the AGM end of May 2021.
Thorsten Arsan (a German citizen, age 46) has over 19 years of experience in the German residential real estate sector. He previously spent eight years as Head of Corporate Finance and Deputy Head of Finance & Treasury at Vonovia SE, a DAX-listed residential landlord with 415,000 apartments in Germany, Austria and Sweden. In that role, Mr. Arsan was overseeing all equity- and debt-capital markets transaction. Throughout his tenure, Vonovia issued a total of more than EUR 15bn of unsecured bonds and EUR 2bn of hybrid capital. In addition, he was also responsible for credit rating activities and played a key role in shaping the company’s state of the art financing structure. Mr. Arsan’s current position is Senior Vice President for Finance, Controlling, Investor Relations and M&A with the listed German residential real estate company Adler Group SA where he has led numerous financings totaling EUR 2 bn.
Mr. Arsan’s key focus as Peach Property Group’s CFO will be on the Group’s equity and debt capital markets activities to further support the growth of Peach Property Group and to increase profitability. Particular focus will be to drive lower reducing financing costs and to align the Group’s capital structure to match the expected growth trajectory.
Reto Garzetti, Chairman of the Board of Directors of Peach Property Group AG: “We are delighted to have Thorsten Arsan join Peach as CFO at such an
exciting period of growth for our company. His deep expertise and network will substantially support our expansion strategy over the coming years. In particular, his relevant corporate finance experience in the German residential market will allow us to further optimize our credit rating and financing terms as Peach Property continues to grow.
My sincere thanks go to Dr. Marcel Kucher, who as CFO and member of the management made a very valuable contribution to the initial growth phase of Peach Property Group. The Board of Directors wishes him all the best for the new professional challenge that he will take on after our Annual General Meeting in May 2021.”
Dr. Thomas Wolfensberger, CEO of Peach Property Group AG: “The capital markets, both on the equity and debt side are crucial for the growth and success of Peach Property. Thorsten Arsan is an all-rounder who will further drive Peach Property Group’s best-in-class practices. Peach Property Group will benefit from his many years of experience with, one of Europe’s largest residential companies. We welcome him to the team.”
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Dr. Thomas Wolfensberger, Chief Executive Officer
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About Peach Property Group AG
The Peach Property Group is a real estate investor and developer with an investment focus in Germany. The group stands for many years of experience, competence and quality. Innovative solutions for state-of-the-art living needs, strong partnerships and a broad value chain round off the profile. The portfolio consists of high-yield portfolio properties, typically in B-cities in the catchment area of conurbations. In addition, the Group develops real estate for its own portfolio or for condominium marketing. In the latter area, the Group concentrates on A locations and properties with attractive architecture and upscale furnishings for an international clientele. Its activities span the entire value chain from evaluating locations through to acquisitions and also active asset management and property sales or lettings.
Peach Property Group AG has its registered office in Zurich and the Group is headquartered in Cologne. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto Garzetti (President), Peter Bodmer, Dr. Christian De Prati, Kurt Hardt and Klaus Schmitz.
More information at http://peachproperty.com