CBRE Global Investors, the world’s largest real estate investment management business by assets under management, has promoted Jean Lamothe to head up its value-add investments in Europe. Lamothe, who has been with the firm since 2010, will remain based in London.
CBRE Global Investors, which is owned by Los Angeles-based property services giant CBRE, said its value-add business was a “key aspect” of the firm’s set of investment strategies in the region. It forms part of the firm’s Strategic Partners platform, which was started in the region in 2001 to purchase, reposition, develop and sell institutional-quality assets throughout the UK and continental Europe.
Lamothe joined CBRE Global Investors as head of continental Europe. Following the acquisition of ING Real Estate Investment Management, a takeover that made the firm the largest real estate investment management business in the world, he was switched to head of UK before this latest promotion.
Michael Ness, managing director and head of separate accounts at CBRE Global Investors, subsequently has been made UK head as well. Further, David Love has been promoted to chief operating officer for the UK.
CBRE Global Investors managed $90.7 billion of assets as of March 31. Of that total, $33.9 billion was in Europe.