History

2011

July
Colonia Real Estate Solutions GmbH and LARUS Asset Management GmbH merge and become the new POLARES Real Estate Asset Management GmbH.

April
Volker Lemke (CFO) leaves the Management Board and Dr. Lutz R. Ristow becomes the new Chairman of the Supervisory Board

March
Stefan Lutz and Dr. Carsten Strohdeicher resign from the Supervisory Board.
Stephan Rind (CEO) leaves the Management Board.

February
Rolf Elgeti and Hans-Ulrich Sutter are appointed as new members of the Management Board. TAG Immobilien AG hold more than 50% of the voting rights.

2010

November
TAG Immobilien AG becomes major shareholder with 25.2%.

October
Successful cash capital increase with a volume of about 10.8 million Euros. 2,845,990 new shares were placed with international institutional investors.

September
CRE Resolution and CRE Accentro merge to one integrated expertise platform Colonia Real Estate Solutions GmbH.

June
Colonia increases its holding in CRE Resolution GmbH to 100%.

April
Colonia successfully places convertible bonds with five-year maturity.
Friedrich Thiele (CIO) leaves Management Board by mutual agreement.

2009

September
About 1,000 residential units in Berlin were sold for 67 million Euros to a consortium consisting of conwert Immobilien Invest SE as lead investor and Kronberg RE Deutschland GmbH.

Insolvency administrator commissions CRE Resolution with a workout mandate for former Level One portfolio consisting of 13 commercial properties. This is not only another mandate for the workout division but also a success for the new founded "German Workout Platform" which is an alliance of multiple partners offering modular services in the workout sector.

CRE Resolution opens new office in Dresden and closes their office in Düsseldorf due to restructuring measures in the refurbishment and project development division.

June
The stock options of CRE AG issued in 2004 were converted into new shares with an exercise rate of 96.4 percent. All in all new equity of 13 million Euros were raised.

Klaus Lennartz is new chairman of the Supervisory Board after Professor Klaus B. Steiger resigned from his position due to personal reasons.

May
CRE Resolution wins first restructuring mandate in Cologne for the new business segment workout/restructuring.

April
A capital increase was successfully placed with institutional investors with gross proceeds of about 3.6 million Euros.

2008

December
The consequences of the financial crisis forces the CRE group to reduce costs and focus on the core business investments and asset management. Management buyout takes place in two subsidiaries, one being the Colonia Fonds Management GmbH.

The asset management mandate for the German Oaktree commercial real estate portfolio terminates the 31st of December.

September
Two new members of the board are appointed: Volker Lemke (CFO) and Friedrich Thiele (CIO. Volker Lemke follows Ingmar Schmitt, who was appointed as an interim board member due to the illness of Klaus Reichert in May. Friedrich Thiele is responsible for the resort real estate.

June
Merrill Lynch and CRE AG acquire residential portfolio for about 103 million Euro from Wohnbau GmbH, Bonn. The properties are located in Bavaria and Berlin. CRE Resolution will be responsible for the asset management.

April
Colonia Fonds Management and HGA Capital jointly issue the nursing home investment fund named HGA/COLONIA CareConcept I.

March
Net profit for 2007 doubles to 67.1 million Euro and for the first time CRE´s shareholders receive a dividend.

February
In cooperation with Merrill Lynch, CRE acquires a commercial and residential real estate portfolio consisting of 28 objects in nine locations in Germany. CRE´s subsidiary CRE Resolution will be in charge of the asset management. 

2007

November
Together with Oaktree purchase of office real estate portfolio for 600 million Euro.  

September 
Purchase of 94.9 percent of the shares on the Signa Real Estate Capital Partners Berlin Holding AG which holds a mixed residential and commercial portfolio located mainly in the western part of Berlin. The portfolio comprises 948 residential units and 86 commercial units. 

August
Colonia Real Estate AG increased its stake in the asset management subsidiary CRE Resolution GmbH from previously 56 percent to 75.1 percent. 

July
Takeover of commercial real estate portfolio 'Serail' from Berliner Verkehrsbetriebe in a Joint Venture with Strategic Value Partners. 

Colonia Real Estate AG increases their stake in Emersion Grundstücksverwaltungsgesellschaft mbH und Domus Grundstücksverwaltungsgesellschaft mbH to 99.24 percent. Together both subsidiaries hold a portfolio of 9,857 apartments. 

June
Acquisition of 70 percent of the Stuttgart based accentor real estate GmbH (todays CRE Accentro GmbH).  

March
Colonia Real Estate signs memorandum of understanding with Merrill Lynch as a co-investor in a commercial and residential real estate portfolio located in Hannover, Leipzig and Dresden.

February
Acquisition of 51 percent of the shares in two residential real estate companies holding 9,857 units located in Aachen, Freiburg, Hamburg, Kiel, Cologne, Osnabruck und Salzgitter.

Colonia Fonds Management GmbH successfully placed first real estate product 'Care Invest 1' with a focus on nursing homes. The diversified portfolio consists of six nursery homes in the regions of Berlin, Kiel, Cologne and Regensburg.

2006

December
Purchase of residential real estate portfolio in Berlin with 2,204 residential units.

Oktober
Co-investment together with Oaktree Capital Management, LLC in large office portfolio sold by Deka Immobilien Investment GmbH. The pan-German so called „Herkules“-Portfolio consists of 49 office buildings in six of the most important cities.

September
Acquisition of the portfolio "Helle Aue" consisting of 2,487 units in Berlin.

Sale of 1,546 units, located in the north east of Germany, from the subsidiary Grasmus Holding GmbH to a British Investor Group.

June
CRE-share becomes member in two more indices: GPR 250 and FTSE EPRA/ NAREIT

March
Deutsche Börse AG affiliates Colonia Real Estate AG as a member of the SDAX by the 20th of March 2006.

Foundation of CRE Fonds Management GmbH (todays Colonia Fonds Management GmbH) in Cologne. CRE holds a stake of 56 percent and thus opens a new business area: the conception and distribution of structured investment products, especially closed-end real estate funds.

February
Market entry in asset management for third parties: Colonia Real Estate AG takes over 56 percent of the Resolution GmbH (todays CRE Resolution GmbH), a company specialized in asset management.

2005

December
Purchase of 1,600 residential units in the area of Hamburg bought by the subsidiary CRE Wohnen GmbH.   

June
Acquisition of 94 percent of the Dutch Grasmus Holding B.V. from Cerberus Group. Grasmus Holding B.V. possesses a portfolio of 3,488 residential units in the northern part of Germany.

January
Colonia Real Estate becomes the only new entrant in the E&G DIMAX (Deutscher Immobilienindex).

2004

October
Take-over of 86 percent of ARCON Trust GmbH through an real capital increase. The assets consist of 3 Marriott Courtyard Hotels and one office building.

2003

March
Successful take-over of 85 percent of the share capital of the Colonia Real Estate AG (former „Küppersbusch AG“) through the Switzerland based FortmanCline Group. 

History  Küppersbusch
2000

Küppersbusch celebrates its 125th year anniversary.

1999

Takeover from Teka Group of the business. Formation of Küppersbusch Hausgeräte AG and Küppersbusch Großküchentechnik GmbH.

1956

With 3,500 employees, Küppersbusch is the world's largest factory for stoves and ovens.  

1907

Küppersbusch becomes the number one factory of kitchenware in Germany.  

1989

The first factory with 90 employees opens. Annual production of 6,600 stoves and ovens.

1875

Friedrich Küppersbusch founded Küppersbusch AG and begins with the production of coal-heated stoves and ovens.