Schönefeld, 05 February 2024 – As of 31 March 2024, Helge H. Hehl, CFO of InCity Immobilien AG (“InCity AG”), will be leaving the company at his own request in order to devote himself to new professional challenges. The associated early termination of his position on the Management Board with an original term until November 2024 was carried out by mutual agreement. Starting on 1 April 2024, Michael Freund will again lead the company as the sole member of the Management Board. He was previously the sole member of the Management Board of InCity Immobilien AG in the period from April 2015 to November 2017. His current Management Board contract term will end in November 2027.

Helge H. Hehl has been with InCity Immobilien AG since November 2016, initially as Head of Finance and as CFO since November 2017. As CFO, he was responsible for the areas of accounting, reporting and controlling, financing and treasury, internal and external communications (including investor relations) and organisational issues such as IT and data protection.

Georg Oehm, Chairman of the Supervisory Board of InCity AG, says: “The entire Supervisory Board is sad to see Mr Hehl leave. We want to thank him sincerely for his years of excellent work as CFO and for his important contributions to the stable and successful development of InCity in this position. We wish him all the best for the future, both professionally and personally.”

As a multi-disciplinary real estate company, InCity Immobilien AG (referred to in the following as InCity AG) is dedicated to creating and increasing the value of property portfolios and operates in the fields of asset management and project development. For its property portfolio, InCity AG focuses on the real estate markets of the two major cities Berlin and Frankfurt am Main and pursues a sustainable investment strategy. The decisive factors here are location, property quality and long-term value stability. Accordingly, the portfolio consists of high quality core properties with value stability in Berlin as well as properties in locations in Frankfurt that are attractive in the long term with investment volumes between EUR 5 m and EUR 50 m. In addition, InCity AG assumes comprehensive and individually developed asset management contracts for third parties. InCity AG significantly strengthened its project development business unit in July 2021 by undertaking a contract, as a general contractor, for the construction of a new office property in the immediate vicinity of the Berlin-Brandenburg (BER) airport, as well as adding its own project development activities.
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