Property manager AEW Europe has opened an office in Madrid after it has acquired four assets in Spain for €153m in the last couple of years.
AEW Europe has made these acquisitions for several core and value add funds and mandates. The real estate manager’s assets under management in Spain have reached €343m, the firm targets some €500m of AUM over the coming years.
AEW Europe has appointed Carsten Czarnetzki as head of Spain. In this role, he will oversee the company’s investments and asset management in the country. He will retain his role of portfolio manager of the Europe Value Investors fund.
Based in Madrid, Czarnetzki will report to Russell Jewell, head of Private Equity Funds at AEW Europe.