Thor hires Europe head

The US urban real estate development firm, Thor Equities, has hired Jared Hart to lead its European acquisitions.

Thor Equities has hired a head of European acquisitions chief as it ramps up acquisitions in the region. The New York-based company that specializes in urban retail and mixed use projects has appointed Jared Hart who has spent 10 years at Pears Global Real Estate Investors, a private UK family real estate company.

Thor said the hire was a significant move aimed at “expanding its already growing global portfolio”, which includes in Europe the historic Burlington Arcade in the West End of London, and a property on the Avenue des Champs-Élysées in Paris, plus a luxury retail asset on the Boulevard de la Croisette in Cannes, also in France.

The key hire comes four years since the company first moved into the UK when it teamed up with London-based private equity real estate firm Meyer Bergman to acquire Burlington Arcade for £104 million (€130 million; $176 million) in October 2010.

“Thor Equities has cemented itself as a premier international real estate leader,” said Hart who joined Pears in 2005 and has been responsible for advising and sourcing acquisitions, financing and also asset managing in Europe. Prior to Pears, he was at Matrix, a UK property investment group, and at Cushman & Wakefield’s London office before that.

Thor, whose chairman, chief executive officer and managing principal is Brooklyn-born Joseph Sitt, has a portfolio valued around $5 billion and more than 15 million square feet.

Investors in its Thor Urban Property Funds series include pension funds, investment banks, college endowments and foundations.