Marek Pyra appointed CFO of Zeitgeist Asset Management

January 2022

Marek Pyra has been appointed CFO of Zeitgeist Asset Management, moving up from his parallel position (which he will continue to hold) at Zeitraum, the investor's subsidiary. He has thus strengthened the competencies of both companies and the international development of the rental platform Home by Zeitgeist. In his role as CFO of the residential and student divisions he will take an active part, among others, in the development of the group's strategy and acquisitions, supporting investor relations and capital raising.

Marek Pyra, CFO Zeitgeist Asset Management

- I am delighted to be joining Zeitgeist Asset Management after nearly two years of managing finances at Zeitraum, an international operator of private student houses. We have a lot of challenges ahead of us in terms of business development in Poland and I am confident that our team will achieve the goals set for the coming years. We want to be the leader of the PRS market - not only in the Czech Republic, where over the past year I had the opportunity to gain experience, but also in Poland," says Marek Pyra.

Marek Pyra is an expert in the PRS market (eng. private rental sector) and understands the need to follow the changes in the business environment - including legal and tax. As CFO, he focuses on building good relations with investment funds, especially since there are more and more competing entities on the Polish institutional lease market. Marek Pyra's new responsibilities - in addition to looking after Zeitraum in Poland and the Czech Republic - include: overseeing the finances of the entire Zeitgeist group in Poland and active participation in developing the group's strategy and acquiring new projects, as well as investor relations and raising capital, including debt financing, and ensuring companies' compliance with applicable laws and tax requirements.

- The role of CFO combines not only knowledge based on numbers and paragraphs, but also market and business knowledge. Marek is a Polish Statutory Auditor and finance expert. His perspective on the strategic aspects of the business, especially related to expansion, is important to us. I am convinced that this promotion - with the challenges for 2022 - was the best possible decision, says Peter Noack, CEO of Zeitgeist Asset Management.

Zeitgeist's goal for this year is to develop the Home by Zeitgeist platform, which is already operating in the Czech Republic, and in Poland will offer in the first half of the year apartments in the new housing estate "Górskiego 6,8,10,12" in Gdańsk (formerly Czyżewskiego 35/4), and then a tenement house at Wrzesińska 2 in Warsaw's Praga district. The company has adopted an operating model in which it will work on further acquisitions for PRS purposes, overseeing current projects under redevelopment and continuing the recently launched process of entering the new private dormitory sector with its daughter company, Zeitraum.

Prior to joining Zeitgeist in 2020, Marek Pyra supported real estate entities for years, specializing in strategic financial advisory and Public-Private Partnership projects. In addition to his experience as a statutory auditor, he holds a CIMA Adv Dip MA. From 2013 to 2017 he was associated with Warbud in the role of analyst and finance manager.

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