By Staff writer
Company makes key appointment as it seeks property investments in the UK, Germany, France, Italy and Spain
Bahrain-based Investcorp, which has invested $1.5 billion in real estate in the United States in the past year, is now turning its focus to Europe with the announcement of a key appointment.
The company on Tuesday announced the appointment of Neil Hasson as managing director to spearhead its European real estate investment initiative.
Hasson joins as the firm targets the European property sector in line with its strategy to diversify its range of investment products, the company said in a statement.
Investcorp has a long-established US real estate business and has grown into being one of the biggest foreign buyers of US real estate. The firm has closed transactions with a value totalling around $1.5 billion in the past year, including student housing in Florida, apartments in Atlanta, Chicago, Dallas, Denver and Minneapolis, and commercial property in the Northwest, Southwest and West Coast.
Hasson, who will be based in London, will now be responsible for developing Investcorp's European real estate investment business with an initial focus on core-plus opportunities in residential and commercial properties across the United Kingdom, Germany, France, Italy and Spain.
Mohammed Al-Ardhi, executive chairman at Investcorp, said: "Diversification into the European real estate market is a key element of Investcorp's strategy. Investcorp has long-served its client base with global and diversified investment products - entering European real estate is the next logical strategic step for the firm."
Hasson added: "There are currently some very attractive opportunities for property investment, particularly in Western Europe, and I am looking forward to spearheading this new initiative at Investcorp."
Hasson was previously a senior managing director at Macquarie Group, responsible for the firm's European real estate lending business.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
For those willing to invest in the Spanish property market, now it is a great moment to do so as market is starting to pick up after years of recession.