Union Investment Real Estate has announced the hire of an initial team of three professionals for its newly-opened London office, set up to manage and expand the firm’s €4.3 bn UK and Irish property portfolio.
The new London-based team comprises Miles Skinner, newly appointed head of Transactions UK & Ireland, Jacob Thompson, investment manager UK & Ireland and Peter McNamara, senior asset manager UK. The three team members have joined from highly regarded real estate companies DWS Group, Invesco and Cromwell Property Group.
‘The proven quality and local expertise of this high-calibre local team will enable us to continue our 30-year success story in the UK and build on our seven-year track record in Ireland,’ said Michael Bütter, CEO and Chairman of the Management Board of Union Investment Real Estate GmbH.
Union Investment is currently underallocated to the UK relative to its total portfolio of around €45 bn. Given favourable conditions, the company plans to increase the proportion of UK properties in its portfolio over the next few years.
‘Our funds have the flexibility to cover a wide range of asset classes, investment styles from core to core plus, and lot sizes of between €50 and €500 mln. With our flexible investment platform and team on the ground, we will be even better placed to identify acquisition and sales opportunities in the UK and Ireland in the future, and also to act faster and more efficiently without compromising on quality,’ said CEO Michael Bütter.
