New IVG property company to be managed by Michiel Jaski as CEO
- Experienced Dutch manager with strong capital markets background
- IVG CEO Binkowska: “Ideal addition to the operational team headed by Oliver Priggemeyer”
IVG Immobilien AG announced today that it has appointed Michiel Jaski as CEO for its newly formed office real estate company. Mr. Jaski – a 57-year-old Dutchman – has extensive experience in the management of real estate/infrastructure related companies and a strong capital markets expertise having been at the helm of listed companies for the last 15 years.
“With the addition of Michiel Jaski, we are combining his superb management track record and his strong capital markets’ experience with the excellent operational strength of our highly regarded team in the German office property market,” explained Dietmar P. Binkowska, CEO of IVG Immobilien AG. “With Mr. Jaski’s background and expertise, he is an ideal complementary addition to the operational team managed by Oliver Priggemeyer.”
Mr. Jaski will join the IVG Group on 9 May 2016. Together with Oliver Priggemeyer, he will work on establishing the new real estate company as one of the leading office players in Germany.
Most recently Mr. Jaski was CEO of listed, Netherlands-based company, Grontmij N.V., a planning and engineering business focussing on real estate and infrastructure from 2011 until the acquisition of the company by SWECO AB in October 2015. Prior, Mr. Jaski served for ten years as member of the Executive Board, at ARCADIS N.V., a listed , Netherlands-based, global provider of design and consultancy services, with, amongst others, focal points in real estate and infrastructure. There he was responsible for several international M&A transactions. In his early career, Mr. Jaski worked at Philips and Shell in the Netherlands, Belgium and the U.K.
“I am very much looking forward to joining Mr. Priggemeyer and his strong local team in positioning the newly formed company as a key player in the German office real estate sector ,” said Mr. Jaski. “I am confident that the high quality of the property portfolio across Germany’s top six markets, the diversified tenant base and the extensive expertise of the team represent an excellent basis for future development.”
The ongoing separation of IVG’s strategic core portfolio comprising around 100 properties as a separate company is currently being handled by Oliver Priggemeyer in his role as COO of IVG Immobilien AG. This new company, for which Michiel Jaski has now been appointed as CEO, is to be created in the near future and will have its headquarters in IVG’s own landmark property “The SQUAIRE” at Frankfurt Airport. The office property portfolio, which will form the basis for the company’s future business activities, had a total value of approximately €3.2 billion (in accordance with IAS 40) as at 31 December 2015 and covered a total rental area of around 1.4 million sqm. The large majority of the properties are located in Germany’s top six office markets.
IVG Immobilien AG
The strategic core business of IVG Immobilien AG is the acquisition, management, purchase and sale of office properties in Germany. It is one of the largest office property companies in Germany with its own portfolio worth more than EUR 3 billion. Its operating business is geared towards profitable management and needs-driven optimisation in addition to active portfolio management, with the aim of achieving sustainable added value in its own property portfolio. In addition to this core business, IVG Immobilien AG has commercially independent equity investments in a service provider for structured property products for institutional investors (TRIUVA Kapitalverwaltungsgesellschaft mbH) and a company that builds, operates and leases subterranean oil and natural gas repositories (IVG Caverns GmbH).
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