Catella, the Stockholm-based European financial adviser and asset manager, has established a property investment management platform in Spain and Portugal.
Catella, the Stockholm-based European financial adviser and asset manager, has established a property investment management platform in Spain and Portugal.
The new platform is headed by Javier Hortelano, who joins Catella from his previous role as a partner at professional services network PwC. Hortelano worked in PwC's real estate transaction services business where he led the commercial real estate practice (retail, offices and logistics).
Prior to this, Hortelano held various roles at Amsterdam-based retail property specialist Redevco, most recently as chief operations officer in charge of investment management across all main European markets.
Catella is strong in the real estate markets of the Nordics, Germany and France, and more recently has expanded its presence in the UK.
'We are continuously evaluating expansion to new and selected regional markets. The Spanish market is in a recovery phase; business activity and investment volumes are growing, including large inflow of foreign capital,' said Timo Nurminen, head of property investment management at Catella.
'The establishment of property asset management operations in Spain is based on our successful launch of a similar business in France in early 2014. Given Javier’s experience and the similarity of the markets, we also see Portugal as a natural expansion for our Iberian business,' Nurminen added.
The new enterprise will focus on property investment and asset management on behalf of Spanish and foreign investors. The platform will be independent of Catella’s existing real estate advisory business in Spain, and will be based in Madrid.
Catella’s property investment management business area has assets under management of €3.1 bn and operations in Germany, Finland, France, Denmark, Spain and the Baltics.
