CPPIB names new Europe RE head

Andrea Orlandi has been promoted to managing director and head of real estate investments for Europe following a decision by Wenzel Hoberg to take a leave of absence

The Canada Pension Plan Investment Board’s (CPPIB) Real Estate Investments business has announced a new head in Europe.

Andrea Orlandi has been promoted to managing director and head of real estate investments for Europe following a decision by Wenzel Hoberg to take a leave of absence.

Orlandi’s elevation comes 13 years after joining the global Canadian investor, during which time the real estate professional has been responsible for investment activities on a pan-European basis and in India.

In a statement, CPPIB added Hoberg had decided to take a leave of absence, and would be leaving his current position today having been with the company for over seven years starting out in Toronto and then moving to London to establish CPPIB’s real estate investing business in Europe.

He first joined CPPIB’s Toronto office in 2007 as vice president real estate investments – international, and relocated in 2009 with a team to the newly opened London office.

The company’s investments in the Eurozone include a 25 percent interest in Westfield Stratford City Shopping Centre, which is a 1.9 million square foot mall in east London, plus a 50 percent stake in London office development, Victoria Circle, and a 50 percent share in CentrO Oberhausen, a regional shopping center 40 kilometers north of Dusseldorf in Germany.

In Europe it has also struck up joint ventures with various companies, such as a Swedish retail property partnerships with Nordic and Baltics shopping center owner Citycon, UK property projects with TIAA Henderson Real Estate, Hammerson, Land Securities and Grosvenor, a Spanish retail investments joint venture with Intu, and a retail property partnership in Turkey with Blackstone-owned Multi Corporation