Karsten Stellmach is the new managing director of CB Construction & Development GmbH, Capital Bay's building arm.
'We have already acquired properties with a value of €300 mln for the development segment, and further deals are in the pipeline. This is why I am especially pleased to welcome such an experienced property development manager to our team,' commented George Salden, CEO of Capital Bay. 'Karsten Stellmach will build up the Construction & Development segment in its new form.'
Stellmach was most recently at Vonovia, as regional manager for a portfolio of around 6,000 units. In his new role he will be responsible for all of Capital Bay's development and construction projects.
Stellmach studied law at LMU Munich before training in the area of real estate and residential property.
