Germany's Union Investment Real Estate is restructuring its investment activities under new CIO Martin Brühl.
As of March 1, the department responsible for investment management will be split into two regional investment units—Europe and overseas—with additional dedicated units for retail and hospitality.
Andreas Löcher will continue to be responsible for Union Investment's global hotel investments, while Henrike Waldburg will remain in charge of retail investments.
As the head of overseas investment, Philip La Pierre will take on responsibility for international investment business in the office segment, which currently involves five markets across the Americas and Asia-Pacific. European investment activity, which Philip La Pierre has been in charge of since 2013, will now be headed up by Martin Schellein. He joined Union Investment in 2009 and since 2013 has been responsible as team manager for real estate transactions in the continental European markets, excluding the DACH region.
“In 2016, our specialist investment teams handled global acquisitions and sales with a total value of €4.6 billion,” Brühl said in a statement.
Union Investment Real Estate’s property portfolio currently includes 50 hotels and eight projects with more than 16,000 rooms, valued at around €3.2 billion euros. The company focuses on "high-end business hotels" with a minimum of 120 rooms in international business cities.