Belgium’s largest listed real estate developer Immobel announced on Tuesday that it is grouping and expanding its investment management activities with the launch of Immobel Capital Partners.
Immobel has hired Schroders’ former global head of real estate Duncan Owen to lead the new platform which will be based in London.
Owen has a long history of building real-estate investment management businesses and delivering investment performance for multiple stakeholders through a number of economic cycles. With a career spanning more than 30 years, he served as global head of real estate at Schroders for nine years and subsequently, in 2021, as special advisor.
Prior to Schroders, he was the CEO of Invista Real Estate which he founded and listed on the London stock exchange.
Building on the success of the Immobel Belux Office Development Fund, launched in 2020, the new business will focus on green strategies that are fully aligned with the objectives of long term investors and partners.
Immobel Capital Partners will focus on creating investment strategies in the office and residential sectors and will have a strong focus on those urban centres that provide the opportunity to create a new generation of sustainable and smart living and workplace environments close to Central Business Districts.
Balance sheet co-investment from Immobel alongside third party capital will ensure alignment with investors. Value creation will be delivered through the selection of assets that are gaining from long-term structural forces and which are less dependent on the economic cycle.
Commenting, Duncan Owen said: ‘I am excited by this unique opportunity to work with Immobel, a world renowned real estate developer, to establish and build Immobel Capital Partners. The Immobel Group has a strong balance sheet enabling co-investment and many points of differentiation which include its deep and broad market coverage across Europe as well as a market leading team that specialises in all aspects of development management with a focus on creating positive ESG impact in cities for people.’
Marnix Galle, Chairman of the Board of Immobel Group added: ‘This an exciting step for the group and a natural evolution of our business as we grow and diversify our operations, whilst the strategic direction of future investments aligns with Immobel’s purpose of supporting the cities of the future through sustainable urban development. Our future cities will see residential and office functions much more interwoven - leading to a better ecosystem with happier residents and office workers alike. We believe it is the increased focus on sustainability and technology that will drive this change.’
