CBRE Investors, the Los Angeles-based firm set to merge with ING Real Estate Investment Management, has appointed two value-added investment specialists in Continental Europe.
Cédric Engel and Loïc Cohen were called “tremendous additions” to the value-added team by Jean Lamothe, president of CBRE Investors in Europe. “Their appointments demonstrate our strong commitment to the region and to our value added business,” he said.
Engel has been appointed by CBRE Investors as managing director having previously been a director at CDP Capital Europe, where Lamothe was formely president. Engel was also an executive director at Otéra Capital, the commercial real estate financing subsidiary of Caisse de depot et placement du Quebec, one of the largest institutional fund managers in Canada. He will further develop the business for the existing Continental European value added team, said CBRE Investors.
Cohen joins as a senior director responsible for the “execution” of “value-added investment strategies”, notably in France and Germany. He previously worked for CBRE Investors for four years as an analyst and asset manager but left to join CDP Capital Europe along with Engel as an associate. Like Engel, he then joined Otéra Capital as a director of asset management.
Aside from new hires by CBRE Investors, the ongoing integration with ING REIM has led to some reshuffling of senior ING figures in Europe. In one of the latest publicised examples, Peter Helfrich has been appointed country manager of Germany from 1 August. The head of ING REIM’s Nordics business has been tasked with growing the firm’s €1 billion asset management business in Germany, though he will supervise the ING Real Estate Nordic Property Fund, said the company.
Helfrich is taking over from Martin Sabelko, who is returning to his original role as country manager ING REIM responsible for Central and Eastern Europe.
Following the appointment of Helfrich, Chris Wood, currently responsible for the day-to-day business at ING REIM Germany, will become director for institutional clients for Germany, Austria and Switzerland and will also focus on the new Service-KAG in Germany.
Martin Sersé is replacing Helfrich as country manager ING REIM Nordics and fund manager of the ING Real Estate Nordic Property Fund, of which he is currently chief financial officer.