The chief executive of Singapore-listed European-focused investor IREIT has stepped down after almost five years in role.
Louis d’Estienne d’Orves has been appointed as a non-executive at IREIT and will relocate to Singapore to lead the Asia Pacific operations of Tikehau Capital, which jointly owns IREIT with City Developments.
He has been replaced by Peter Viens, who joins from Tikehau-owned European real estate asset manager Sofidy where he was a fund manager. He will lead the business from Paris.
Tikehau has also installed its co-head of real estate acquisition Emilio Velasco as chief investment officer to assist the new chief executive in investment and asset management functions.
Viens said: “It is an exciting opportunity to be able to steer IREIT and forge ahead with our long-term growth plans. Still based in Paris, France, I remain close to the investment properties and local markets so that IREIT can continue to stay nimble and capitalise on the extensive network and expertise of our joint sponsors, Tikehau Capital and City Developments.”
He said his immediate goal in his new role was to push up occupancy rates across the IREIT portfolio, which comprises five freehold office properties in Germany, four freehold office properties in Spain and 44 retail properties in France.
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