Germany's Union Investment Real Estate is bringing Markus Diers, 44, back into the fold to be in charge of retail asset management from March.
Diers, who will be responsible for more than 50 assets, is taking over from Lars Richter, who was instrumental in building up the portfolio and the department. After successfully managing the department for 20 years, Richter will retire from the company on age grounds at the end of 2024.
Henrike Waldburg, a member of the board at Union Investment Real Estate, said: 'We are delighted to have found this excellent solution for a generational change. With his strong expertise in retail and broad experience of the retail park, high street and shopping centre segments, Markus Diers will continue the valuable work done by Lars Richter and further develop our well-positioned retail portfolio, with a view also to new institutional investment solutions.'
Diers has worked at Union before having enjoyed a spell from 2005 to 2016 when he was a specialist in retail properties and subsequently became team leader for asset management of the European retail portfolio. He joined HIH Real Estate for five years before next joining retail warehouse specialist, Redos, in 2021, whose majority shareholder is Redevco.
