Alvarez & Marsal (A&M), the global independent professional services firm, is expanding its European real estate advisory capabilities in Europe with the appointment of London-based directors, Patrick Anderson and Caspar Vredenbregt. The professional services firm, which is dvising on the global restructuring of Lehman Brothers, said the appointments are a direct response to increasing demand for advisory services as European real estate debt hits EUR 1 tln.
Alvarez & Marsal (A&M), the global independent professional services firm, is expanding its European real estate advisory capabilities in Europe with the appointment of London-based directors, Patrick Anderson and Caspar Vredenbregt. The professional services firm, which is dvising on the global restructuring of Lehman Brothers, said the appointments are a direct response to increasing demand for advisory services as European real estate debt hits EUR 1 tln.
Anderson and Vredenbregt both have over 12 years of experience in real estate development, investment and finance, working with companies in Europe, Asia and North America. Prior to joining A&M, Anderson was director of International Investment and Development for London & Regional. Vredenbregt joins A&M from a major mixed-use and residential developer in France, having previously worked for ABN-AMRO Bouwfonds (since acquired by SNS Reaal).
These latest hires follow the launch of A&M's European Real Estate Advisory Services practice and the appointment of managing director Scott Morey in June 2010. A&M said that the developments are in direct response to the very high volume of European real estate debt due in the next three years, and specifically banks' need to resolve their nonperforming and distressed commercial real estate assets.
Scott Morey, managing director, European Real Estate Advisory Services, said: 'In little over six months of business, A&M’s European Real Estate Advisory team has already worked with in excess of EUR 4 bn worth of real estate assets across 13 European countries. There is a large number of existing and new funds looking to buy these troubled and distressed assets but in reality, when we combine the total available capital in today’s market, it is only a fraction of what is needed to shore up banks’ balance sheets.'
