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Michael Cale and Karen Horstmann Michael Cale and Karen Horstmann

NEW YORK CITY—Allianz Real Estate, the $72.3 billion real estate investment and asset manager of the Allianz Group, has appointed two executives to expand its US business. Michael Cale will be the US co-head of debt investments and Karen Horstmann will join the firm as the US head of equity acquisitions. Both of them will report to Christopher Donner, CEO of Allianz Real Estate of America.

Coming from Voya Investment Management where he was the SVP, head of capital markets, Cale will bring 18 years of experience when he comes to Allianz in July. With co-head Mike Krawiec, Cale will oversee underwriting and structuring, overall portfolio allocation and investor management for the $13 billion commercial real estate loan business.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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