Northern European real estate investor Nrep has appointed Wolfgang Ködel as head of Germany as of 1 July.
Ködel, who studied architecture and holds a degree in engineering, worked for the investment company BlackRock for the past 16 years.
Less than 10 months after Nrep's entry into the German market and after first investments in co-living apartments in Berlin, Frankfurt and Essen, Ködel is now tasked to drive further real estate investments in Germany.
As a result of Nrep's recent value-add fund raise with a total volume of €3.65 bn, the company has an investment volume of up to €1 bn, including debt capital, available for the German market, which the firm intends to invest over the next 18 months.
The focus is on apartments, offices and modern logistics facilities in Germany, with a goal to demonstrate the market viability of transformation in the real estate sector with proven decarbonisation solutions.
Rune Kock, CEO of Nrep, said: 'Germany is an important strategic market for us and we have big plans for this market.
'To implement these plans, Wolfgang brings the right qualifications and competencies: he has known the German real estate market for over two decades and combines experience in German real estate with proven expertise in international financial markets.
'Wolfgang also fits very well with our culture and values, which is a key success factor for us.'
Added Ködel: 'Nrep has a unique business model and an impressive track record when it comes to implementing sustainability in the real estate sector. Especially in Germany, the real estate sector is still lagging behind climate targets.
'Together with my team, I want to show what a successful business case for the transformation from brown to green real estate looks like. Because a sustainable and decarbonising approach to real estate projects not only makes urban spaces more liveable - but are also economically successful.'
Germany is becoming an increasingly important market for Nrep. Logicenters, the logistics specialist of Nrep, appointed Martin Ohly as general manager for Germany in June.
Nrep is responsible for the real estate investment business line within Urban Partners, which is focused on sustainably addressing the challenges of urban spaces with assets under management of €20 bn.
