GLOBAL - Invista European Real Estate Trust, Internos, SLI, LaSalle, Patrizia Immobilien
Invista European Real Estate Trust - The board of Invista European Real Estate Trust has fired the SICAV's manager and is urging shareholders to back a sell-off of its assets at the end of the notice period next September. Citing a significant discount to NAV, the listed fund has appointed Internos Real Investors with a view to selling "all existing properties as expeditiously as is consistent with the protection of value" within three years.
Standard Life Investments - The company has hired Séverine Laffineur as European portfolio manager in its Paris office. Laffineur, who will join the AUM€11.4bn fund manager later this month from LaSalle, will be responsible for sourcing deals and managing existing assets. Continental European real estate head Daniel McHugh said the new hire's acquisition experience would be "invaluable".
Patrizia Immobilien - Company founder Wolfgang Egger has been confirmed as chairman of the board for another five-year term, extending his tenure to July 2016. Patrizia said the move would ensure continuity of decision-making processes. The appointment comes after the company's acquisition of LB Immo Invest last year and the resulting expansion of its commercial real estate holdings.
