WP Carey has announced the departure of Cabot Lodge III as head of European investments as the US-based international sale-and-leaseback specialist firm increases its focus on other markets.
WP Carey has announced the departure of Cabot Lodge III as head of European investments as the US-based international sale-and-leaseback specialist firm increases its focus on other markets.
Lodge is setting up his own firm. WP Carey's European team will continue to be led on the ground by senior investment officers Jeffrey LeFleur, Jennifer Lucas, and Arvi Luoma.
WP Carey CEO Trevor Bond said, 'We wish Cabot well as he starts his own advisory business. He did an outstanding job for the company overseeing our European investments during these past two years. We're pleased that he will remain as a board member of our UK subsidiary, WP Carey.
'Despite the challenges in the European economy, we continue to identify potential investments in Europe and have a seasoned and talented team in place to execute on them.'
The company also announced the appointment of Jason Fox and Gino Sabatini as co-heads of global investments.
Fox will oversee the firm’s international acquisitions activities, including investment teams based in the firm’s European and Asian offices, as well as business development initiatives in other international markets.
Sabatini will oversee North American acquisitions activities, which include the US and Canada. Both Fox and Sabatini will continue to be based in the firm’s New York office.
Bond noted, "As our international investment strategy expands beyond Europe and becomes increasingly global, our challenge is to balance risk and reward on a global basis while maintaining the hands-on deal focus that has contributed to our success for nearly 40 years. Consolidating our regional acquisitions teams under a single management structure will allow us to achieve this goal.
