NEW YORK CITY-Allianz Real Estate's US CEO, Jamie Stolpestad, is leaving the company, Allianz said Monday. The decision was mutual, Allianz said, as Stolpestad is leaving to seek new challenges outside the company. No further explanation was given.
Eric Bergwall, currently head of portfolio management of Allianz Real Estate of America, will act as interim CEO until Stolpestad's successor can be named. In a statement, Allianz expressed thanks to Stolpestad “for being instrumental in setting up the operations and establishing Allianz Real Estate of America as a best in class real estate asset and investment manager, both in the equity and debt business.”
Named CEO at Allianz Real Estate in 2010, Stolpestad previously was managing director for GE Real Estate at its Norwalk, CT headquarters. There, he was responsible for managing a broad range of office, retail, multifamily and hotel assets and directing the retail investment strategy in the US.
Before that, Stolpestad worked as SVP at the Mills Corp. in Washington, DC. His prior experience includes acquisition roles at Transwestern Investment Co. and what is now CBRE.
Headquartered in Munich, Allianz has a global investment portfolio of over €500 billion. The real estate group's global assets under management total about €28 billion, $8 billion of which is in the US. The US portfolio is about $6.5 billion in debt and the balance in equity.
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