Carl Fay and Manuel Oltersdorf take charge of marketing at FAY Projects

Mannheim / Berlin, 8 January 2024 – Carl Fay (34) and Manuel Oltersdorf (33) are taking responsibility for marketing the properties developed by FAY Projects. They succeed Clemens Rapp, who left the company at his own request on 31 December 2023.

Carl Fay joined at the beginning of 2023 from Tishman Speyer, where he worked in acquisitions and development. Before that he was jointly responsible, among other things, for underwriting and for structuring and implementing property investment strategies at a pan-European investment manager. Carl Fay joined the management of FAY Projects GmbH on 1 January 2024 and is responsible for acquisitions, controlling and financing. From Berlin he will steer the company’s further strategic development and, together with Ralph Esser, a Managing Director of FAY since 2002, take charge of sales. Ralph Esser is also the point of contact for financing, liquidity management and the management of existing strategic alliances and partnerships. Building and maintaining those alliances and partnerships will in future be developed closely with Carl Fay.

Manuel Oltersdorf, who moved to the Berlin office of FAY Projects from Colliers International Hotel in 2020, initially worked for the company as Senior Project Manager Hotel Expansion and in recent years has been concerned above all with letting office and commercial space. Together with Carl Fay, and as an authorised signatory, he is responsible for marketing the properties developed by FAY Projects.

“In developing our company we are glad to continue relying on staff whom we have trained ourselves, and who have grown with the company and accompanied it,” says Wolfgang Heid, Chairman and Spokesman of the Management Board of FAY Projects. “In doing so we increase both motivation and expertise within the company.”

Joshua Klay strengthens sales, financing and liquidity management

Joshua Klay (29), who will strengthen the sales, financing and liquidity management team, also comes from within the company. He is additionally more closely involved in operational and administrative business processes at the Mannheim office. Klay completed his training as a property management assistant at FAY Projects back in 2019 and, while working for the company, successfully completed a degree in real estate economics.

“This generational renewal is taking place in a difficult market. Even so, a commercially sustainable company policy and years of developing our managers leave us well equipped for the challenges ahead,” says Wolfgang Heid.

In recent months and years FAY Projects has established itself as a developer with notable letting strength. Examples from last year include the full letting of OVUM in Cologne, an 88 per cent letting rate at the FLEXGATE project at BER airport in Berlin, and the most recent letting success at the MITZSCH project in Leipzig, where the property services company WISAG signed a lease for 4,300 square metres.