WP Carey managing director Arvi Luoma has been promoted to head of European investments.
As primary lead for the New York-headquartered REIT’s investment activity in Europe, Luoma is responsible for overseeing the sourcing, negotiating, underwriting, structuring and closing of all European investments.
WP Carey has been investing in Europe since 1998 with an investment team in London and asset management operations in Amsterdam. Aggregate assets under management in Europe total more than €5bn (£4.4bn) and include more than 475 properties, which are leased to 90 tenants across 20 European countries and more than 25 industries, as of 30 September.
Luoma joined WP Carey in 2006 and has since been directly involved in the structuring of approximately €3bn in sale-leaseback, net lease, build-to-suit, value-add and joint-venture investments across all major real estate asset classes. He has undertaken transactions in 15 countries including WP Carey’s first investments in the Spanish, Norwegian and Baltic markets. In addition, he structured the firm’s first hospitality investments in Europe, including the Roomers’ Munich development, a Marriott Autograph Collection hotel in Germany.
Jason Fox, chief executive officer of WP Carey, said: “I’m pleased to announce the promotion of Arvi to head of European investments. His proven track record of sourcing and executing complex European net lease transactions positions him well to lead W. P. Carey’s European investment business and expand our global portfolio of diverse net lease corporate real estate.”
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