Patron Capital Partners, the pan European private equity and real estate investor representing over EUR2.5bn of equity capital, has hired Georg von Hammerstein as a senior adviser with immediate effect.
Von Hammerstein will be working with Patron’s existing investment teams and focusing on new investments in Germany and the German speaking countries.
Following the final close of Patron’s Fund IV, announced in September 2012, Patron has already allocated approximately half of the EUR1bn of equity capital raised (including discretionary co-investment capital). Germany represents a core market for Patron, with approximately 560,000 sq m of land and buildings currently under management and the company intends to invest in over EUR1bn of assets there in the next two years.
Von Hammerstein has 25 years of experience in the German and European real estate markets, working in senior positions across most risk asset classes, predominantly in commercial real estate. His experience includes debt to equity financing, joint venture management, developments on own account as well as investments for institutional funds and family offices. For the last 14 years, von Hammerstein worked for Pramerica Real Estate Investors, spending the last six years as European chief investment officer. Prior to Pramerica, he was with Helaba and real estate subsidiaries of Commerzbank and Deutsche Bank.
Keith M. Breslauer, Patron’s managing director, says: “We have a strong appetite for real estate in Germany and are dedicated to spending considerable amounts of our investment capital and internal capacities on opportunities in this region. I have known Georg for over 20 years and am very pleased he has decided to join us. With the benefit of his deep knowledge of the German markets, and working together with Christoph Ignaczak and the German teams in London and Frankfurt, I believe we can enhance our position as a significant investor in the German market and achieve our goals.”
Von Hammerstein says: “There are compelling investment opportunities in Germany and I look forward to working with the successful team at Patron to acquire, manage, redevelop and reposition properties to deliver value. With its significant equity, creative approach and substantial co-investment firepower, Patron is uniquely positioned to be able to work with liquidity constrained borrowers, as well as banks and partners to restructure complex real estate situations.”
