AEW Europe Opens Office In Madrid

30 January 2017 – Investment Europe

Property manager AEW Europe has opened an office in Madrid following its acquisition of four assets in Spain for €153m over the last couple of years.

AEW Europe has made these acquisitions for several core and value add funds and mandates. The real estate manager’s assets under management in Spain have reached €343m and the firm has set itself an AUM target of around €500m over the next few years.

AEW Europe has appointed Carsten Czarnetzki as Head of Spain. In this role, he will oversee the company’s investments and asset management in the country. He will retain his role of portfolio manager of the Europe Value Investors fund.

Based in Madrid, Czarnetzki will report to Russell Jewell, Head of Private Equity Funds at AEW Europe.

Original story: Investment Europe (by Adrien Paredes-Vanheule)

Edited by: Carmel Drake

Aguirre, CBRE and Jones Lang LaSalle Will Manage Core´s Assets

Deloitte and the Tax Agency, Bancruptcy Trustees of 31 companies from Valencian real estate group Core Investments (formerly known as Coperfil Group) have signed an agreement with Aguirre Newman, CBRE and Jones Lang LaSalle consulting firms on management and commercialization of the company´s real estate assets.

Core´s portfolio consists of 25 assets including land with building permission in prime areas for commercial, industrial and logistic use in Madrid, Catalonia, Valencia, Murcia, the Canary Islands, Castilla-La Mancha, Castilla y León and Andalusia.

“The portfolio´s heterogeinty makes sales a bit atypical. On the part of CBRE we guarantee efficiency due to our regional presence and expertise” says Alberto Larrazábal, the director of the Industrial and Logistics Department of CBRE Spain. (…).

As for Gustavo Rodríguez, the director of the Industrial and Logistics Department of Jones Lang LaSalle, “The sites of the old Coperfil are located in strategical places for logistics. What is more, apart from the sites and logistic platforms, the portfolio offers leased commercial properties with rentability likely to climb in next years” (…).

In 2011, the Coperfil Group chaired by Vicente Roig, at the request of many providers was declared compulsory bancrupt, with debt of 370  million Euros.

Source: Expansión