To support its growing European real estate management business, Denver-based real estate firm Amstar has opened an office in London.
Jason Lucas, who currently serves as president of Amstar Global Partners and has been with the organization for more than six years, will relocate to London to head up the office, which is located at 67 Grosvenor Street. He will oversee a staff of three to five people there.
The expansion is intended to bring the Amstar team closer to the substantial emerging European property portfolio under management, including the organization’s platform that currently invests in and manages properties in Turkey. In addition, the move is intended to bring the team closer to the organization’s growing client base of investors, including European institutions.
Amstar Global Property Fund I closed in 2007, with total commitments of €214 million. It is fully invested in six properties developed in Turkey, Russia and India. Amstar Global Property Fund II closed in June 2012, with €95 million in total commitments, and is invested in three additional shopping center developments in Turkey.