Hypo Alpe Adria establishes real estate subsidiary Probus Real Estate GmbH (AT)

Hypo Alpe-Adria-Bank International AG (HAA) has announced the establishment of its new real estate subsidiary Probus Real Estate GmbH.

The company, which is headquartered in Vienna, will be responsible for the Group's real estate asset management and has been given the mandate of professionally managing the real estate portfolio of HAA in order to make a positive contribution to the Group's operating result by selling real estate assets. The primary goal is to achieve a maximum degree of value added from these transactions.

With its team of currently 20 real estate experts, one-third of whom are HAA employees, Probus Real Estate GmbH will be responsible for assets under management (AuM) of more than €1.5 billion. Besides properties in Austria and Germany, the portfolio primarily comprises assets in the CEE/SEE region. Effective immediately, the company will be managed by Dr. Andrea Herbeck and Prof. Dr. Sven Bienert as Managing Directors.

Dr. Andrea Herbeck, in the capacity of Managing Director at Post.Immobilien, has been responsible for the real estate portfolio of Österreichische Post AG for the past four years.

Prof. Dr. Sven Bienert is an internationally recognized real estate expert and most recently served as Director of KPMG Austria's Real Estate Advisory division.

Dr. Gottwald Kranebitter, CEO of the Hypo Alpe Adria, said: "The establishment of the new real estate subsidiary underscores our clear strategy of making our bank less complex, more efficient and thus more profitable. Over the next few years, Probus Real Estate GmbH will ensure that our real estate portfolio is professionally managed and that our real estate assets are sold in a value-preserving manner.

"With Dr. Herbeck and Dr. Bienert, two internationally and domestically recognized experts have joined our team as Managing Directors, and I am convinced that both managers will execute our business strategy successfully."

Dr. Andrea Herbeck: "I look forward to my new task and am convinced that the strategy pursued by Probus Real Estate GmbH will be successful. Together with my colleague Dr.Bienert, we will ensure the highest level of professionalism, transparent sales procedures and compliance with all applicable EU laws and regulations."

Prof. Dr. Sven Bienert: "I am convinced that I will be able, in cooperation with my colleague Dr. Herbeck, to utilise our international knowledge and expertise for the benefit of the Hypo Group. Since we are headquartered in Vienna, we are able to maintain close contacts with international investors and networks and to make optimal use of these relationships."

Source: Hypo Alpe-Adria-Bank International AG

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