25/09/2014 – Expansion
International professional services firm PwC (PriceWaterhouseCoopers) has just welcomed two new executives in its real estate department. Javier Hortelano and Itziar Mendizabal, prior to joing the company working as directors at Redevco and Metrovacesa respectively, have an ample and long experience in the property market of Spain.
Itziar Mendizabal is going to become the new head of strategy services before and after sealing real estate transactions. The executive have been acquiring expertise during his 10-year office at Anida, the property servicer of BBVA, and from 2007 until recently, he worked for Metrovacesa.
Javier Hortelano accedes the position of commercial real estate transaction services in the Inmobiliaria area. For many years, Mr. Hortelano has been climbing up the hierarchy ladder in Dutch property manager Redevco unitl becoming the COO on the global level. Since June 2013, he has been the president of the Spanish Association of Retail Centers and Parks.
The real estate division of PwC, led by ex-CEO of Renta Corporacion – Juan Velayos – was created two years ago. ‘We have sensed many upcoming operations on the market and we have found a gap in it for us. We were brave enough to create a specialized team and it turns out we could not position better’, he says.
Ever since, the new field was filled in with 40 employees or even 60 if the experts in legal, taxation and insurance areas taken into the calculation.
For instance, other big-name specialists from the Spanish market like Enrique Used (from Citigroup), Jose Moya (Eurohypo) and Pedro Mora (Cushman & Wakefield) joined the team, to name just few. ‘We sought first-class executives who would create an excellent team. Spain is the hottest market in the world now, with many large transactions and of significant importance in the global real estate sector’.
Among the clients of PwC one may find banks like Santander, Sabadell and Bankia, funds like Apollo, Blackstone and the Public Administration.
Original article: Expansión (by Rocío Ruiz)
Translation: AURA REE