Valad Europe has appointed former Oxford Properties managing director Simon Marriott to replace Rob Howe, who has left the European investor and asset manager to start-up a new UK-focussed investment management firm.
At Valad Europe, Marriott will lead the UK real estate business and its team, covering investment, asset and development management in particular for the £800m Valad European Diversified Fund (VEDF) which recently doubled its fund capacity.
Valad Europe manages €4.9bn of real estate assets and investment capacity across its 20 funds and mandates in Europe. In September, UBS was appointed to sell Blackstone’s majority stake in Valad Europe, crystallising the private equity giant’s investment profit ahead of the fund’s maturity in August 2016.
Marriott has more than 28 years of commercial real estate experience and has held a number of senior roles, including most recently, director in the real estate transactions team at PwC, providing advice on various aspects of the real estate investment process including asset selection, asset management, refinancing and divestment programmes.
Prior to which, Marriott was senior vice president, managing director investments at Oxford Properties, which was preceded by head of Acquisitions UK at MGPA and head of separate accounts at Invista REIM.
David Kirkby, managing director and chief investment officer of Valad Europe, said: “This is an important leadership appointment for our business and Simon’s experience of real estate investment management will be invaluable as we continue to grow and diversify our UK portfolio.
“Simon will lead our team who are actively investing in UK Core Plus / Value Add assets across multiple sectors, as well as sourcing and securing large portfolio acquisitions and new mandates in the UK to match with the needs of our investor and banking partners.”
Simon Marriott, head of UK real estate at Valad Europe, added: “The strength and diversity of Valad Europe’s business is very attractive. During the past few years, Valad has built up an enviable portfolio of funds and mandates across the UK and Continental Europe, serving a high quality base of international investor and banking partners.
“With VEDF’s additional capital, a strong pipeline of new business opportunities and product development, and the increased level of activity in the UK commercial market, this is an exciting time to be joining Valad.”
Simon Hampton, head of UK real estate transactions at PwC, said: “I am delighted that Simon is joining Valad Europe which is an important client of the firm.”
Valad Europe operates two distinct business lines: real estate investment management on behalf of third party investors and creditors, such as the workouts of the Gemini and Bridge CMBS loans, and direct real estate ownership through a series of co-investment managed funds.
Over the last four years, Valad Europe has secured, stabilised and traded, in excess of €3bn of legacy bank and CMBS loan workout assets under management.
Valad has a network of 22 local offices in 13 countries throughout Europe, managing around 430 commercial properties worth €4.9bn across 20 mandates, including €1bn in developments.
Howe has over 23 years’ experience in the property industry, the majority of his career was with Green Property Plc where he was promoted to the main board post privatisation in 2001.
He joined Valad in 2007 and is was responsible for more than £700m of assets under management, a development portfolio with an end value of circa £400m, bank workout mandates and acquisitions and disposals for new and existing funds and mandates.