Denver-based ProLogis has appointed Ralf Wessel as head of its global investment management group. Wessel has been made managing director of global investment management with responsibility for the creation and strategy of new funds and property fund investor relations.
The Netherlands-based real estate professional, who joined the industrial property developer and investment firm in 2006, was promoted from senior vice president of European funds and capital markets.
Simon Nelson is stepping up to replace Wessel, the firm added in a statement. Nelson had been serving as senior vice president of fund management and acquisitions in Europe and head of asset management for ProLogis European Properties, the listed company managed by ProLogis.
Jeffrey Schwartz, ProLogis chairman and chief executive officer, said Wessel’s expanded position recognized his contribution to fundraising efforts in Europe, as well as more recent fund activity in Asia. In 2007 the firm raised €3 billion ($4.7 billion) for ProLogis European Properties Fund II.