GERMANY - Augsburg-based real estate investment specialists, Patrizia, has appointed Marcus Cieleback as head of research.

Reporting directly to chief executive officer (CEO) Wolfgang Egger, Cieleback will take up his new role from October 1.

Cieleback has climbed the ranks in a relatively short space of time, having begun his career in 2002 at MEAG, the asset management arm of insurance and financial services group Munich Re and then shifted his focus to the strategic analysis of the real estate markets.

He then then moved to become head of research for Eschborn-based Eurohypo within its specialist property evaluation and consulting division before accepting his new position at Patrizia.

An erstwhile lecturer and the owner of several highly-respected publications on real estate investments and markets, Patrizia - which currently €3bn in real estate assets across all sectors -  believes Cieleback has established himself as an international authority in real estate research.

"I'm delighted that Patrizia has been able to attract such an acknowledged professional with international real estate expertise," said Egger.