Former CBRE, Patrizia and M7 executives launch real estate investment firm

A team of three former CBRE, Patrizia and M7 real estate experts have launched a new operating platform for real estate investment across Europe.

Staybrook Capital’s leadership team consists of the three co-founders: Adrian McStay as CEO, Rob Brook as CIO, and Teresa Dyer as COO and head of investor relations.

McStay is the former managing director of UK regions and national team at CBRE which he joined in 2008 when it acquired his asset and investment management business, GSD; Brook was previously head of logistics and alternatives at Patrizia, which he joined when it acquired Tamar Capital Partners, the European investment and asset management business he co-founded in 2010; and Dyer is a former board member and COO of M7 Real Estate, which she co-founded in 2009, having previously been a board member at GPT Halverton and in a senior position at Invesco Real Estate.

Initially, Staybrook plans to invest around €200m into the European real estate market on behalf of clients.

Staybrook – which has identified a €100m pipeline of potential investments – will invest, develop, and manage commercial real estate, focusing on UK and Western European logistics, particularly mid-box and urban logistics assets in Germany, Benelux, the UK, France, Northern Italy and Spain.

The team will also seek to invest in special situations, with a particular focus on well located UK offices which it believes are now oversold and present a clear opportunity to deliver value-add investment returns through repositioning and sustainability improvements.

McStay said: “While our initial focus will be on building a first class portfolio of logistics and industrial assets, we also believe that the UK office sector, while not without its challenges, will be rich with potential options as the importance of the physical workspace has now been firmly reestablished and where we can combine our deep knowledge of local markets and stock selection skills to identify and reposition the future winners.”

Brook added: “I have made significant investments in the European logistics market over a number of years, but the current backdrop of strong tailwinds and robust fundamentals offers a highly compelling point in the cycle to invest in the mid-box and urban sub sectors of the market.”

Dyer said: “Each of us brings a very specific skill set, deep relationships and a great deal of experience having worked across multiple territories in some of the most challenging and therefore opportunity rich market cycles.

“Unencumbered by any legacy assets, we are excited to use this experience to build a strong European platform which will deliver an agile and aligned service to our clients and investors.”

To read the latest IPE Real Assets magazine click here.