Corio appoints CEO for Corio Deutschland

Corio has reached an agreement with Hubertus Kobe to join Corio as the CEO for Corio Deutschland. Mr. Kobe was the Managing Partner of DTZ Zadelhoff Tie Leung GmbH (hereafter: DTZ) until recently. Furthermore, he was member of the DTZ retail board EMEA-regio. Before the merger of Donaldsons LLP and DTZ Holdings plc. in 2007 he was Managing Partner of Donaldsons Deutschland GmbH & Co KG (hereafter: Donaldsons). Mr Kobe was responsible for leading and developing the growth of the German business of DTZ with a special focus on the professional retail services. After this appointment Corio Deutschland's Management Board consists of two members, Hubertus Kobe (CEO) and Jack Noordergraaf (CFO). Mr. Kobe will start on 1 July 2011. Before joining Donaldsons in 2004, Mr. Kobe started his career at KPMG Consulting AG in Frankfurt in 1994 where he became a Senior Manager in the Real Estate & Construction Division, responsible for planning, development and implementation of strategies regarding real estate management for private and public companies, especially in the retail real estate business. He joined Grundstücksgesellschaft Max Bahr Holzhandlung GmbH & Co KG in Hamburg as CEO in 2002, this is one of the top 10 DIY Companies in Germany with approximately € 1 billion of assets in ownership. From 2004 Mr. Kobe has taken care of the build-up and the further development of one of the leading retail real estate consulting companies in Germany, specializing in consulting with respect to transactions, asset management, property management, centre management, leasing and (re)development and repositioning of shopping centres. In 2008 the company was taken over by the DTZ Holding PLC, London. Lastly, Mr. Kobe was responsible for professional services of DTZ in Germany, consisting mainly of retail services, portfolio management and building consultancy. Furthermore, he was member of the DTZ retail board EMEA-region. Mr Kobe's experience and knowledge of retail in general and of developing and managing shopping centres in particular in combination with his educational background, leadership capabilities and his personality makes him the ideal candidate for this position. Currently, Corio's portfolio in Germany consists of two operational shopping centres with a value at year end 2010 of € 512 m and five development properties with a total expected investment of around € 780 m. It is Corio's objective to grow the portfolio in Germany further in the coming years by acquiring shopping centres at central locations, preferably centres that can be revitalised for the benefit of the local catchment area. Corio has created by now, a strong local team in Germany with all relevant disciplines in house to manage the full process from investments, optimizations, center management and letting, supported by the experience of Corio on an European level. By creating sustainable Favourite Meeting Places Corio Deutschland aims to become one of the leading players in Germany. Corio is one of the largest listed retail property companies in Europe. Corio's portfolio of €7.2 billion consists for 96% of shopping centres in its six home markets: The Netherlands, France, Italy, Spain, Germany and Turkey. Corio has its management fully internalized. Press release: This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Corio NV via Thomson Reuters ONE [HUG#1506536]