Club MeetingParis, September 14th, 2016

Overview

BREXIT - The good, the bad and the ugly about Brexit and its impact on the real estate market in Europe

BREXIT - The good, the bad and the ugly about Brexit and its impact on the real estate market in Europe was the topic of the GRI CLUB meeting held on September 14th in Paris, prior to the opening of the Europe GRI 2016. The meeting was followed by a GRI Club members-only lunch.

The discussion focused on more general topics such as migration and the impact on employment, how likely is it for The City to move from London to another major European capital and how the different countries are dealing with the potential effects of Brexit on their real estate sector.  The participants provided at the end a list of issues that they considered critical and kept them up at night: Terrorism, the declining consumer power, chaos and how to be resilient, “uberization” of the economy and solvency of pension funds, were some among others. Finally, a vote was taken to ascertain who had a positive or negative vision as to how things will evolve.  Out of the 52 attendees present, 28 voted that they were positive as to how things will evolve and 15 voted that they were negative with how things will evolve, with the difference not voting either way.

Among the participants, we had: Aref Lahham - Partner, Orion Capital Managers, Kirk Adamson - Principal, Blackstone, Arnaud Taverne - Directeur Generale, CDC-GPI, Jean-Philippe Olgiati - Managing Director, Blackrock, Cristina Perez Liz - Managing Director, Kennedy Wilson, Marjorie Brabet-Friel - CEO & Member of the Board, Sistema Capital Partners, Colin Grant - Principal, Mercer Capital Partners and Mauro Montagner - CEO Southern Europe, Allianz Real Estate.

See who attended
Adam JosephAdam JosephManaging Director - European Real EstateMacquarie Group
Ali ImraanAli ImraanDebt Investments & Special SituationsLaSalle Investment Management
Ali OtmarAli OtmarManaging Director, InvestmentsTristan Capital Partners LLP
Aref H. LahhamAref H. LahhamFounding Partner & Managing DirectorOrion Capital Managers
Aurelien LanfrayAurelien LanfraySenior Vice PresidentMacquarie Group
Benita von MedingBenita von MedingManaging DirectorWarburg-HIH Invest Real Estate Spain SL
Brian BetelBrian BetelManaging PartnerASG Iberia Advisors
Bryan McDonnellBryan McDonnellPrincipal - Head of European Real Estate FinancePricoa Capital Group
Carlo De VitoCarlo De VitoChairmanFS Sistemi Urbani
Carrie HiebelerCarrie HiebelerSenior Investment OfficerVentas, Inc.
Catherine HongCatherine HongExecutive Director & Portfolio ManagerMorgan Stanley SGR, Italy
Cristina PérezCristina PérezManaging DirectorKennedy Wilson

More records

Adam Joseph
Managing Director - European Real Estate
Macquarie Group
United Kingdom
Segment: Lending
Biography:
Macquarie Real Estate Lending provides bespoke finance solutions to companies operating across the full real estate spectrum including residential, retail, light industrial, data centres, office and hotels. Team has invested over €2 billion across Europe since 2010. Adam Joseph is a Managing Director and founder member of this team which was created in 2009.
Ali Imraan
Debt Investments & Special Situations
LaSalle Investment Management
United Kingdom
Segment: Investor
Biography:
Ali Imraan is a National Director in the Debt Investment & Special Situations team. He is responsible for new deal origination and execution within the business. Prior to joining LaSalle, Ali was responsible for Commercial Real Estate within the Asset Backed Finance team at RBS, based in London. Prior to that he headed the Private Equity Real Estate Finance team at RBS, worked within its mezzanine finance team and also worked for Citigroup's European Securitisation & Structured Finance team.
Ali Otmar
Managing Director, Investments
United Kingdom
Biography:
Mr. Otmar is a Partner at Tristan Capital Partners. He is responsible for origination and execution of investments in Europe with a particular focus on Germany, Austria, Benelux countries and pan-European portfolio transactions. Prior to joining Tristan, Ali worked for five years at Merrill Lynch's Real Estate Principal Investments group and its successor, Peakside Capital. Since joining Tristan in March 2011, he has been responsible for the origination and execution of new investments in excess of €2.5 billion on behalf of Curzon Capital Partners III/IV and EPISO 3/4 funds which invest in core plus and value-add investment opportunities on a pan-European basis.
Aref H. Lahham
Founding Partner & Managing Director
Orion Capital Managers
United Kingdom
Biography:
Aref Lahham is a Managing Director and founding Principal of Orion. Orion has sponsored five Funds with over €10 billion of total investments. Aref serves on the Funds’ Investment Committee and is Chief Investment Officer setting the strategy and leading the Funds’ acquisition team and activities as well as directing asset management activities on a significant number of Fund investments. Aref has 28 years of real estate investment and development experience in the United States and Europe. He has a BSc in Engineering from Purdue University, Masters of Engineering in Civil Engineering from Cornell University and an MBA from INSEAD.
Aurelien Lanfray
Senior Vice President
Macquarie Group
United Kingdom
Segment: Lender
Biography:
Aurelien Lanfray is a Senior Vice President in the European Real Estate Lending group of Macquarie’s Corporate and Asset Finance division (CAF). Aurelien joined Macquarie in 2013 and has over 13 years of real estate experience, having previously worked at Westbrook Partners, BNP Paribas Real Estate and Deutsche Bank. Since joining Macquarie, Aurelien has sourced or executed real estate, infrastructure and corporate transactions in France, Germany, the Netherlands and Ireland.
Benita von Meding
Managing Director
Warburg-HIH Invest Real Estate Spain SL
SPAIN
Biography:
Benita is German and graduated from European Business School in London so that she speaks English, French and Spanish. She has 20 year real estate experience mainly in international aquisitions for German property investment funds. Her work has included a large variety of transactions including standing investments and developments in the office, shopping center and hotel segment. She has been working on acquisitions and sales in various countries but having moved to Spain in 2006 the main focus of her career since then has been the Spanish and the Mexican market
Brian Betel
Managing Partner
ASG Iberia Advisors
Spain
Segment: PERE Value Add
Biography:
Brian has worked for 25 years in the RE sector investing and managing assets in 6 countries covering a wide range of products in Private Equity RE including CRE value add, turnarounds and residential, hotel and resort development in addition to alternative asset classes. Brian has a further specialty in debt and NPL acquisitions and workouts navigating insolvency processes to unlock value in distressed special situations. He spent 14 years in North America and Europe at a major PE fund with his final position as MD in Spain before opening the ASG Iberia office in Spain as the Managing Partner and setting up ASG Homes Propcorp as a Founding Partner currently developing multifamily residential projects in ten cities throughout Spain.
Bryan McDonnell
Principal - Head of European Real Estate Finance
Pricoa Capital Group
United Kingdom
Segment: Lender
Biography:

In this role, Bryan overseas the firms London office and advises The Prudential Insurance Company of America (“PICA”) regarding their real estate financing activities throughout Europe. Bryan is located in London, United Kingdom.

Carlo De Vito
Chairman
FS Sistemi Urbani
Italy
Segment: Asset Management
Biography:
Born in Capriglia Irpina (AV) in 1952. Civil engineer specialized in transportation. From 1977 he is in FS Group where he has covered various roles: planning and direction work of complex railway works, direction of the armament of track and guide of industrial systems. From 2000 to 2008 he was the chief of the passenger and freight terminals of RFI, society of FS that manages the railway infrastructure. From 2009 he is Chief Executive Officer of FS Sistemi Urbani.
Carrie Hiebeler
Senior Investment Officer
Ventas, Inc.
United States
Segment: REIT
Biography:
Carrie Nowacki Hiebeler joined Ventas as Senior Investment Officer in November 2012. Ms. Hiebeler is responsible for international and domestic healthcare investment opportunities. She drives growth and diversification of the Company’s RE portfolio through execution of moderate to large asset and entity transactions. From 2005 to 2012, Ms. Hiebeler held various positions in Bank of America Merrill Lynch’s Investment Banking Division where she focused on healthcare, mergers and acquisitions and debt/equity capital markets transactions. She has an MBA from The Wharton School at the of University of Pennsylvania where she majored in finance and healthcare. And she has a Biomedical Engineering undergraduate degree from Northwestern University.
Catherine Hong
Executive Director & Portfolio Manager
United Kingdom
Biography:
Catherine is a portfolio manager for the Morgan Stanley Alternative Investment Partners (AIP) Real Estate Fund group. Based in London, Catherine is a member of the real estate investment committee and the team's region head for Europe. Before joining AIP in 2008, Catherine worked as an associate in Morgan Stanley's Real Estate Private Capital Markets Group, focusing on private real estate fund formation throughout Europe. She previously worked in the Global Principal Investments group at Merrill Lynch in New York. Catherine received a B.A. from Wellesley College and an M.B.A. from the Wharton School of the University of Pennsylvania.
Cristina Pérez
Managing Director
Kennedy Wilson
SPAIN
Biography:

Ms Perez Liz, based in Madrid, is the Managing Director of Kennedy Wilson Spain and has almost 20 years of investment banking, real estate and capital markets experience throughout Spain and the rest of Europe. Prior to joining Kennedy Wilson, she was a Managing Director of Banco Santander’s restructuring unit for medium size corporates, and had previously played different roles at PwC, and Goldman Sachs and JP Morgan in London . Over her career, Ms Perez has intervened in the completion of more than 25bn in European real-estate related transactions, including equity, direct lending, mezzanine, securitisation, and restructuring work.

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