Aareal Bank AG is an international company listed on the MDAX index with headquarters in Wiesbaden , Germany , which traded as DePfa Deutsche Bau- und Bodenbank AG and formed part of the DePfa Gruppe until 2002.
18-460: The Carlton, Moscow ( Карлтон Москва ) (formerly The Ritz-Carlton, Moscow ) is a 334-room 5-star luxury hotel in the center of Moscow. The Ritz-Carlton, Moscow was developed by Kazakh property development group Capital Partners and financed by Merrill Lynch Capital Markets Bank and Aareal Bank . It was designed by Andrey Meyerson and constructed between 2005-2007, on the site of the demolished Hotel Intourist . It opened on July 1, 2007. The hotel
36-567: A consequence is directly supervised by the European Central Bank . The company's history dates back to two institutions: Preußische Landespfandbriefanstalt (founded in 1922) and Deutsche Wohnstättenbank AG (founded in 1923), both of which were based in Berlin. Deutsche Wohnstättenbank AG was renamed Deutsche Bau- und Bodenbank in 1926. In the years of the Nazi rule, the bank grew rapidly thanks to
54-498: A credit line. After the second crisis, summit some politicians demanded that HRE's top management resign, among them Federal Minister of Finance Peer Steinbrück who stated that he had been kept in the dark and that it was "unthinkable" to keep dealing with them, especially after they had used lawyers against the government to attempt to evade responsibilities. CEO Georg Funke subsequently stepped down, replaced by Axel Wieandt on 31 October 2008. Via several steps, Hypo Real Estate
72-575: A legal entity as a wholly owned subsidiary of the Hypo Real Estate Group. The firm received a bailout from the Deutsche Bundesbank and other German banks in October 2008 during the financial crisis of 2007–2008 , before approving a complete nationalization a year later. Hypo Real Estate encountered financial difficulties during the financial crisis of 2007–2008 , principally due to
90-586: A public finance bank based in Dublin. Since 2006, the company has focused on the Commercial Property Financing and Consulting/Services segments. Hermann J. Merkens has been chairman of the management board of the company since 2015. The supervisory board members are elected for a period of five years each. The current term of Marija Korsch as chairman of the supervisory board began in 2013. (as of 31 December 2015) The Aareal Bank Group includes
108-466: The 2022 Russian invasion of Ukraine . It was renamed The Carlton, Moscow on July 8, 2022. 55°45′26″N 37°36′46″E / 55.7572°N 37.6128°E / 55.7572; 37.6128 Aareal Bank The company is represented on three continents ( Europe , North America and the Asia-Pacific region) and oversees property financing in more than 20 countries. It has been listed on
126-607: The real estate financing business of HypoVereinsbank . It employs about 2,000 people and was one of the 30 members of the DAX stock market index of the largest German companies between December 2005 and December 2008, before the shares were demoted to the MDAX . Its shares were further demoted to the SDAX in September 2009. In 2007 it acquired the public finance company Depfa Bank . The company remains
144-481: The German stock exchange since 2002. In 2023, Atlantic BidCo GmbH (ABC) took control of Aareal Bank after a public takeover offer was completed. ABC is a company formed by a group of investors led by Advent International , Centerbridge Partners and a subsidiary of CPP Investments . Aareal has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as
162-544: The bridging loan business which mainly targeted the funding of settlement and housing construction. These sectors boomed following the massive increase of the armament industry that demanded accommodation for their workers, often designed as National Socialist ideal settlements . The prospect of business opportunities due to the boom of the armament industry also fostered the bank's department for industrial loans. Millions of Reichsmark were granted to companies like Ruhrgas AG , Vereinigte Stahlwerke AG or Daimler-Benz AG . At
180-582: The following companies : DePfa Bank The Hypo Real Estate Holding AG is a holding company based in Munich , Germany which comprises many real estate financing banks . The company's activities span three sectors of the real estate market: commercial property , infrastructure and public finance , and capital markets and asset management . Hypo Real Estate is the second largest commercial property lender in Germany. The bank originated in 2003 from
198-500: The heavy debt burden of its Depfa Bank subsidiary . On 29 September 2008, Finance Minister of Germany Peer Steinbrück announced that a € 35 billion line of credit would be extended to Hypo Real Estate from the Government of Germany and a consortium of German banks. After the first crisis summit, the supervisory board members independent from and unaffiliated to JC Flowers and Grove International Partners LLP resigned from
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#1732876737345216-411: The office. As successors, Michael Endres (chairman), Bernd Knobloch, Edgar Meister, Sigmar Mosdorf, Hans Jörg Vetter, Bernhard Walter and Manfred Zaß were appointed to the board. The deal fell apart on 4 October 2008 after the banking consortium involved pulled out. A second proposed bailout was agreed on 6 October, with German banks to contribute €30 billion and the Deutsche Bundesbank €20 billion to
234-504: The rescue agency. By that date, government support for the company had reached €102 billion. Under a law passed in March, the government could force the sale if shareholders reject it. Meanwhile, the German parliament formed a committee to investigate the HRE bailout. Opposition parties from the left and right spurred creation of the committee, while the governing centrist coalition abstained. With
252-473: The same year. In 1999, Deutsche Pfandbrief- und Hypothekenbank AG was renamed DePfa Deutsche Pfandbrief Bank AG and transferred all property activities to Deutsche Bau- und Bodenbank, which was also given the name DePfa Bank AG BauBoden at this time. In 2002, the bank was divided into Aareal Bank AG (formerly Deutsche Bau- und Bodenbank), a property finance bank with headquarters in Wiesbaden, and DePfa BANK plc,
270-525: The supervisory board until World War II. Preußische Landespfandbriefanstalt was given the name Deutsche Pfandbriefanstalt in 1954. In 1979, Deutsche Pfandbriefanstalt acquired a majority interest in Deutsche Bau- und Bodenbank. It traded as public limited company under the name Deutsche Pfandbrief- und Hypothekenbank AG from 1989, before going public in 1991 and opening its first foreign branch in Amsterdam in
288-457: The time of the Nazi seizure of power in 1933, already 63 of 267 employees belonged to the Nazi Party . While chairman of the supervisory board Otto Kämper was a member as well and publicly praised the success of the government in the field of housing, democrats such as Arnold Knoblauch or Eberhard Wildermuth , who was in contact with conspirators of the 20 July plot , were still holding a seat on
306-545: Was granted further framework guarantees by the German Financial Markets Stabilisation Fund ( SoFFin ) in February 2009, taking its total state funding to €52 billion. On 17 April 2009, SoFFin tendered an offer to take over Hypo Real Estate by buying and creating shares that would raise its equity stake to 90%. On 24 April 2009 the HRE governing boards recommended that shareholders approve the offer by
324-570: Was sold in 2011 for $ 600 million to Verny Capital, a Kazakh private equity firm, whose chief investor is Kazakh billionaire Bulat Utemuratov . That same year, CNN reported that the hotel's Ritz-Carlton Suite was one of the 15 most expensive hotel rooms in the world. The hotel ceased to be managed by The Ritz-Carlton Hotel Company division of Marriott International on July 5, 2022, when Marriott severed its relationship with all 22 of its properties in Russia, due to sanctions imposed on Russia in response to
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