GTIS hires former Pramerica trio, opens German office

GTIS Partners has hired three former Pramerica directors as it targets the German investor market.

The real estate investment manager has recruited David Pahl and Barry Howell as managing directors in the US, while Thomas Baur has joined to run a new office in Munich.

All three previously managed Pramerica’s (known as Prudential Real Estate Investors in the US) US Property Funds for German investors.

Pahl, who will lead the investment strategy, said: “US property continues to evolve with changing market cycles, but the asset potential remains strong for long-term investors.”

Pramerica’s $1.5bn equity USPF series, managed on behalf of German institutional investors, was created by Pahl in 1994.

Dietrich Heidtmann was last year hired by GTIS to run its Paris office as head of international capital markets. Heidtmann was previously global head of investor relations and capital markets at AXA Real Estate.

GTIS Partners invests in US and Brazil real estate markets.