Heitman hires ING exec to head Europe portfolio

Scott Dwyer, formerly the general manager for ING Real Estate’s asset management business in Europe, has joined the Chicago-based real estate investment management firm as its new head of portfolio management in Europe.

Heitman has recruited Scott Dwyer as head of portfolio management for the investment manager’s European private equity real estate business. He will be based in the firm’s Warsaw office and report to European co-heads Gordon Black and Rob Reiskin.

“Scott, whose career in the region spans 14 years, has the skill set and depth of operating experience in Europe’s real estate markets that allow him to navigate seamlessly through the various business cultures, climates, risks and issues found across the Continent,” said Black.

Dwyer replaces former European portfolio head Otis Spencer, who left the firm earlier this year and is now co-head of Warsaw-based KSP Real Estate Investment Management, a CEE-focused fund manager that launched in June.

In an email to PERE, Black noted that Heitman currently is investing its fourth value-added fund focused on Central and Eastern Europe (CEE), as well as separate account mandates for Western Europe. “We see opportunities to expand the strategies, mandates and AUM in CEE and Western Europe,” he said.

Heitman currently manages €3.5 billion in real estate assets in Europe, out of an overall portfolio of €25.7 billion in assets invested directly and indirectly in real estate in North America, Europe and Asia. The firm’s European operations include offices in London, Luxembourg, Moscow, Munich and Warsaw.

Dwyer joins Heitman from ING Real Estate Development International, where he had served as general manager for asset management and dispositions in Europe since 2009 and was responsible for ING Real Estate’s operations in Germany, Italy, Poland, Czech Republic, Hungary and Switzerland.

Previously, Dwyer worked as managing director for Europe at French real estate investment manager Unibail-Rodamco from 2005 to 2009 and as country manager of Poland for Rodamco Europe. Prior to that, he was a finance partner in Poland with TrilDM Development and European director of Greater Union International.