Alvarez & Marsal (A&M), the global independent professional services firm, is expanding its European real estate advisory capabilities in Europe with the appointment of London-based Directors, Patrick Anderson and Caspar Vredenbregt.
Patrick Anderson and Caspar Vredenbregt both have over 12 years of experience in real estate development, investment and finance, working with companies in Europe, Asia and North America. Prior to joining A&M, Mr. Anderson was Director of International Investment and Development for London & Regional. Mr Vredenbregt joins A&M from a major mixed-use and residential developer in France, having previously worked for ABN-AMRO Bouwfonds (since acquired by SNS Reaal).
These latest hires follow the launch of A&M's European Real Estate Advisory Services practice and the appointment of Managing Director Scott Morey in June 2010. These developments are in direct response to the very high volume of European real estate debt due in the next three years, and specifically banks' need to resolve their nonperforming and distressed commercial real estate assets.
Scott Morey, Managing Director, European Real Estate Advisory Services, said: "The appointments of Patrick Anderson and Caspar Vredenbregt mark an increase in momentum as we build services and capabilities aimed at helping the real estate industry increase profitability during challenging times. The total outstanding commercial real estate debt in Europe is approximately 1 trillion, with Germany and the UK accounting for over half of that total.
"In little over six months of business, A&M's European Real Estate Advisory team has already worked with in excess of 4 billion worth of real estate assets across 13 European countries. There is a large number of existing and new funds looking to buy these troubled and distressed assets but in reality, when we combine the total available capital in today's market, it is only a fraction of what is needed to shore up banks' balance sheets. "
Michael Camp, Global Leader of A&M's Real Estate Advisory Services group, added: "There will be an increasing need over the next three to five years for expertise across European markets in terms of dealing with distressed property assets and associated transactions. There is also a lot of work to be done in helping property companies improve their performance in what continues to be an unpredictable environment for European real estate. We will continue to add talent to ensure we can provide the highest level of service to our clients."
In his four years at London & Regional, Mr. Anderson led the post-acquisition restructuring of the V&A Waterfront in Cape Town, South Africa and helped establish the firm's Panama office to redevelop a former US Air Force Base in Panama City, Panama. Mr. Anderson also raised over US $1 billion in debt finance for investments in the UK and South Africa. Previously, Mr. Anderson's worked for a boutique real estate developer in the South Western US and an investment bank in London.
In his previous role, Mr. Vredenbregt was responsible for acquiring and managing over 300,000 m² of residential, commercial and hospitality projects across France. At ABN-AMRO Bouwfonds he was French Country Manager for the Property Finance Division and managed a portfolio of development and investment loans and joint ventures. He started his career in real estate consulting, first with Arthur Andersen's Real Estate Services Group and subsequently as an Associate Partner with Cushman & Wakefield's European Corporate Services Group.
Source: HeadLand Consultancy