Cornerstone Real Estate Advisers has announced the appointment of Adolfo Favieres as head of its new office in Spain.

Cornerstone Real Estate Advisers has announced the appointment of Adolfo Favieres as head of its new office in Spain.

Favieres will be responsible for sourcing real estate equity and debt investment opportunities in Spain, as well as raising capital from Spanish institutions for investment into Cornerstone’s US, European, and global debt and equity products. He will report to Nick Pink, CIO and head of Fund Management – Europe.

He has over 17 years’ experience in the real estate sector and joins from private equity investment firm, HIG Capital, where he was principal of its European Real Estate group. During his two years at HIG, Favieres was responsible for overseeing European acquisitions, asset management and disposals across multiple real estate asset classes.

Prior to joining HIG, he was country head of Spain and Portugal at Lapithus Servicing Spain and for five years he was head of Spanish real estate at Bank of Scotland, where he was responsible for debt transactions worth a total of €2.3 bn during this time.

Preceding this, Favieres held the position of managing director of Spain and Portugal at WestDeutsche Immobilien Bank for two years, in charge of all commercial real estate activities in Spain and Portugal. Prior experience was gained at Hypo Real Estate Bank International and before that at Tishman Speyer Properties.

The appointment marks another stage in the expansion of Cornerstone’s European business, following the recent opening of Cornerstone’s Italian office in Milan, headed by Valeria Falcone.

'Adolfo’s appointment gives us an immediate presence in the important Spanish market. He adds to other recent hires in Italy, Germany and the UK and the planned office opening in France too,' said Charles Weeks, CEO Cornerstone Europe.