Fair Value REIT-AG, based in Munich, is one of only two REITs that have been established in Germany since the G-REIT legislation was introduced in June 2007. As we know, the intervening period has been characterised by turbulent times for listed property companies. Editor Richard Fleming spoke recently with Fair Value’s CEO Frank Schaich about the company’s aims and objectives and about how he sees events in the wider real estate world unfolding.

How did Fair Value REIT-AG come about?

The company started its “career” in summer 2007 by generating cash and non-cash capital increases totalling Ä92 million before it went public in November 2007. Shortly after the listing on the Frankfurt stock exchange, Fair Value obtained REIT status, thereby becoming the second R