Cordea Savills expands in Europe

The European firm is priming for greater activity in the Nordic region and Baltic states by hiring three real estate pros and opening an office in Stockholm.

Cordea Savills, the pan-European property fund manager, has appointed two pros from Stockhom-based private equity real estate firm Niam and one from Swedish property company Desima.

Håkan Blixt will be in charge of the investment team based at Cordea Savills’ newly established Stockholm office. Prior to this, Blixt was managing partner at Niam where he was responsibile for risk and transactions. Johan Eliasson, also joining from Niam where he was manager of investor relations, will have specific responsibility for clients in the Nordic region. Olle Hällfors, joining from Desima AB, a Swedish and UK based property management company, will be responsible for finance and operations in the Stockholm office.

The hiring spree and new Stockholm presence follows the firm’s €200 million of investments in Sweden and Finland, markets the firm plans to continue investing in.

“The Nordic region offers excellent investment opportunities, plus we will be able to be closer and more responsive to our client base,” Justin O’Connor, chief executive officer of Cordea Savills, said in a statement.

Projected above average economic growth rates and high transparency levels are increasing investor appetite in the region despite the area’s cap rate compression.

“Establishing an operational platform in the Nordic region will allow us to build upon our existing investment capabilities and to explore opportunities in the Baltic countries also. We are seeing significant institutional investor demand for access to these markets,” new recruit Blixt said.

Stockholm is the latest addition to Cordea Savills’ business, which includes offices in London, Dublin, Munich, Milan, Paris and Luxembourg.