GE Capital Real Estate has named Swedish national Lennart Sten as president of its European operation today.
Stenn will report directly to Mark Begor, president and chief executive, and will be based in Paris, the firm said.
Having been a legal counsel at GE in Sweden, he became managing director for GE Real Estate Nordic Region in 2001. He left that post in 2004 to become chief executive of quoted real estate company Fabege, but rejoined GE after Fabege was taken over.
In his new role, he leads all real estate activities across all European markets and is responsible for a portfolio of more than 2,000 assets currently valued at more than €10 billion.
“Lennart has built strong business teams and brings significant market knowledge to this role at a time when our business is moving forward in Europe as a leading property company,” Begor said in a statement.
“Our investment management business will be a particular focus for Lennart,” Begor noted. “Using our expertise to help outside investors profit is especially important to us.”
GE currently has around $73 billion of real estate assets.