Invel Real Estate Partners has tapped Pasquale Pedata for its London team.
Invel, which is a private firm that started in March 2013, said it had appointed the former Cerberus Capital Management professional as a senior associate, reporting to senior partners, Arnaud Plat and Luv Shah.
During four years at Cerberus in Europe, Pedata worked on European NPL and real estate transactions as an analyst and associate and over his career to date has been involved in more than $15 bn (€13.25 bn) of trades.
‘As we grow our operations, it is crucial that we are supported by the right people throughout our network of offices to ensure that keep delivering a best-in-class services to our investors,’ said Plat and Shah in a joint statement.
Invel has yet to reveal all of its plans for expansion and development. Currently, it manages €2.2 bn of assets. The firm acquires assets using co-investment capital alongside investors. To date, the company has not yet launched a commingled fund.
Invel is headquartered in Jersey and, through its affiliated entities, has offices in the UK, Italy, the Netherlands, Greece, Luxembourg and Cyprus.
The company’s founder and managing partner is Christophoros Papachristophorou, former head of global real estate opportunity funds at Deutsche Bank/RREEF.
Recently, Invel said it had beefed up its Italian office via two hires who report to Davide Madini, former CEO of RREEF Italy.
Invel’s biggest investment is a controlling stake in NBG Pangaea Real Estate Investment Company, the largest real estate company in Greece.
In other corporate news, at the end of February, NBG Pangaea and Invel announced a company controlled by the two entities called Vibrana Holdings had acquired a 97% stake in the Hilton Cyprus hotel for €54.9 mln. It is the only 5-star hotel in Nicosia, Cyprus.
In January, NBG Pangaea completed the acquisition of City Tower in Sofia, Bulgaria.
