LONDON-New leadership has taken the helm of Prudential Real Estate Investors‘ European and Asian operations. Raimondo Amabile and Andrew Radkiewicz have been tapped as co-heads of its European business, while Philip Barrett has been named chief risk officer.
The promotions reflect the bullish approach the Madison, NJ-based lender has for foreign markets. As David M. Durning, senior managing director of originations and agency lending for Pru Mortgage Capital, told GlobeSt.com in an exclusive interview recently, the banking woes that the Europe is facing spell opportunity for Pru and all lenders” “The bank pull-back is a perfect opportunity for senior lenders to broaden their trade in Europe,” he stated. “They’re a scarce commodity.”
For fixed-income investors, he continued, “it also represents a yield opportunity vs. what they could get in the United States.”
Amabile joined PREI just a year ago and has been responsible for managing the offices and investments in continental Europe. Radkiewicz, a managing director with PREI since January 2009, he been co-head of the European Real Estate Finance Group, which will continue to be his primary focus. In their new roles, both are members of PREI’s global management committee and will lead the European Executive Committee.
“These changes maintain a high level of leadership in Europe and expand our ability to find the right opportunities for our clients and manage risk in an ever-changing global economy,” said Allen Smith, CEO of PREI, in a statement. “Raimondo and Andrew are both exceptional leaders, bringing deep knowledge of the real estate markets in Europe, spanning the full spectrum of debt and equity real estate investing.”