Pan-European real estate investment manager Boreal IM has strengthened its asset management team with the appointment of Marcel den Adel and William Preece.
Den Adel, who will be based in the Netherlands, was most recently a regional director at Mileway and joins as principal. He will be responsible for managing Boreal’s Dutch assets, currently numbered at 22 following the acquisition of two portfolios last year.
Preece, who joins from UK logistics developer and asset manager Canmoor, has been appointed as vice president and will look after the management of the UK portfolio, currently two urban logistics parks in London and three assets in the Midlands.
Both will report to Peter Bingel, who is responsible for the asset management and finance teams, and they will be closely involved in Boreal’s ESG activities.
Den Adel brings over 15 years of experience to Boreal, including roles at Mileway and M7. At Mileway, he oversaw the strategic implementation and management of its Southern Netherlands portfolio and was involved in acquisitions and disposals across the country. He was a senior asset manager for M7’s Netherlands value-add portfolio.
At Canmoor, Preece was responsible for the asset management and leasing advisory services for a £250 mln (€291 mln) portfolio, with clients including Legal & General IM, BA Pension Fund, Tristan Capital Partners and AIMCo. His 11 years in the industry have included roles at King Sturge/JLL, CBRE and Fletcher King PLC.
The appointments bring Boreal’s headcount to 22. In its first year and a half of operation, its pan-European logistics joint venture with Cadillac Fairview has transacted on almost €1bn of deals in the UK, Netherlands, France and Spain.
Peter Bingel, CFO and partner at Boreal IM commented: 'We welcome Marcel, Will and Denise to the Boreal team, and the strength and experience they bring to our bench.
'Boreal invests across the risk spectrum in leading European economies and our newest team members will help us shape our asset management strategy both at asset and corporate level. They will be involved at acquisition underwriting while focusing on delivering our business plans from a financial and ESG perspective.'
