French listed property firm Altarea has recruited La Française's Jean-Marc Coly to lead its newly launched asset management subsidiary for third parties, known as Alta REIM.
French listed property firm Altarea has recruited La Française's Jean-Marc Coly to lead its newly launched asset management subsidiary for third parties, known as Alta REIM.
Jean-Marc Coly has been named managing director of Alta REIM, which will focus on the management of SCPI and OPCI investment vehicles.
He has over 20 years of experience in the non-listed investment management sector, having previously been responsible for the real estate investment management activities of Group La Française Asset Managers.
In a statement, Altarea said that the new unit will represent another pillar for growth for the group.
'Within Altarea Cogedim, Coly will be responsible for offering diversified real estate products and for providing solutions adapted to the asset management strategy of our clients. The launch of Alta REIM translates our strong growth ambitions in this area,' commented CEO and founder of Altarea, Alain Taravella.
Altarea Cogedim owns a real estate portfolio valued at €4 bn in France, Spain and Italy and focusing on shopping centres. The group has a market capitalisation of €1.7 bn at end-June 2014.
