The American asset manager BlackRock has announced the appointment of Thomas Müller as managing director and portfolio manager within its European real estate team.
Based in London, Müller will work with the firm real estate teams in the UK, Germany, France, Denmark and Poland on value-added real estate strategies across Europe.
His responsabilities will involve him in repositioning, rebuilding and recapitalising properties.
Müller moved from Partners Group where he was head of European Real Estate Primaries and Directs. He formerly worked as a principal banker at the European bank for reconstruction and development (EBRD), and as a senior associate for private equity and real estate, at Baker & McKenzie.
Tom Lee, BlackRock’s head of European Real Estate, said: “Real estate is a critical component of many institutional portfolios and we are seeing increased investor demand for European real estate exposures that provide income and capital growth. There is a compelling opportunity set across major European gateway cities given long-term underinvestment and improving tenant demand.
“Thomas will work with 70 on-the-ground professionals in key European cities to source attractive deals, and manage and develop assets post-acquisition.”
Lee added: “Many institutions see strong relative value in real estate compared to other assets like bonds and equities. Prime office yields are attractive compared to ‘risk-free’ bond rates, and consequently many investors are looking to add real estate exposure this year.”