Amplion Asset Management, Catella Property Group's independent provider of property asset management services, is focusing on expanding its Asset Management businesses across Europe. Timo Nurminen, former head of Catella Property in Finland, has been appointed as the CEO of Amplion Asset Management AB, the parent company to all Amplion operations.
Amplion started asset management business in Finland already in 1997. Amplion Finland expanded it's business to the Baltic markets in 2005 and to Russia in 2007. Amplion Finland is headed by MD Eero Syväniemi, who is responsible for the Finnish business, which also covers the Baltic and the Russian markets. Additionally Amplion is today active in France and has a plan to establish a business in Sweden in 2009.
Real estate will return back to basics where excess returns are generated through asset managers taking a much more hands on approach, the days for cap rate compression is over.
"We see that the challenging financial environment opens new business opportunities. Amplion together with our owner Catella Property anticipate asset management services to be one of the main growth sectors in the next few years. Amplion has a broad experience in several markets to manage distressed assets and portfolios by cooperating with banks and equity investors. In my opinion the next few years will be the years for Asset Management," says Timo Nurminen.
"At Catella we take an entrepreneurial approach to business even the challenging financial environment can lead us to new interesting business opportunities," says Johan Ericsson, Group CEO of Catella Property Group.
Source: Catella
