Frank Schaich, the long-standing sole Management Board member of Fair Value REIT-AG, Gr-felfing near Munich, has resigned from the Management Board effective 31 March 2017. The announcement is connected with Mr. Schaich resigning from the Management Board of the majority shareholder DEMIRE Deutsche Mittelstand Real Estate AG (DEMIRE) effective 31 October 2016. The Supervisory Board has appointed Mr. Patrick Kaiser as an additional member of the Management Board of Fair Value REIT-AG for three years effective 1 November 2016.

Mr. Kaiser is currently and will continue to act as commercial director of DEMIRE as well as general manager of DEMIRE Immobilien Management GmbH. Mr. Kaiser will take over the role of CFO of Fair Value REIT-AG. Mr. Schaich remains CEO of the company until his departure.