German listed real estate company and fund manager Patrizia Immobilien is opening an office in London, adding to its existing international offices in Luxembourg and Sweden.
German listed real estate company and fund manager Patrizia Immobilien is opening an office in London, adding to its existing international offices in Luxembourg and Sweden.
The London office will be led by James Muir, a real estate specialist who previously worked at JP Morgan.
At JP Morgan, Muir advised companies and investors active in the real estate sector across Europe, the Middle East and Africa for 12 years, first as an equity research analyst and for the last seven years as an investment banker. During this time, he specialised in real estate capital markets and M&A transactions, including Patrizia's IPO in 2006.
'We have been represented in the UK via our fund investments for quite some time. Now it is time to strengthen our involvement there and establish our own office in London,' said Patrizia CEO Wolfgang Egger. 'I am delighted that we have gained such an experienced real estate expert in James Muir, who is both well connected in the European real estate market and with real estate investors and who has been familiar with Patrizia from the time of its IPO.'
About EUR 1.5 bn of the real estate assets managed by Patrizia are invested abroad, including in Belgium, Denmark, Finland, France, Hungary, the Netherlands and Sweden as well as the UK. Egger: 'Foreign investors are becoming increasingly confident in Patrizia's real estate expertise. Alongside Danish, Dutch and Swiss pension funds, our customers also include a Swedish sovereign wealth fund. Our new office in Europe’s largest financial centre will strengthen our presence and further extend our international investor base.'
