JSE-listed real estate investment trust Redefine Properties has appointed Hyprop Investments CEO Pieter Prinsloo to head up Redefine Europe, effective February 1, 2019.
“The new role was necessitated as Redefine advances its geographic diversification strategy through direct investment in Central and Eastern Europe. Pieter is a seasoned industry veteran with more than 21 years of relevant experience and is a fantastic addition to our leadership team.
“We are confident that Pieter will build on our presence in Poland and continue to expand the strong global brand that Redefine investors have come to expect. The appointment demonstrates Redefine’s strong commitment to expand its operations in Europe across different sectors," says Redefine CEO Andrew Konig.
Redefine recently acquired a 95% interest in a portfolio of nine operating logistics properties located throughout Poland for R2.9-billion (€185.8-million).
It has also entered into a five-year exclusive priority right involving a pipeline of 24 new warehousing and logistics developments with Panattoni, which leases and develops logistics properties in Europe. Redefine has the right but not the obligation to acquire and develop these assets.
While Redefine will continue to work closely with its local partners, Prinsloo, who will be based in Europe, will be responsible for representing all aspects of Redefine’s interests in its European investments.
Konig had said during the announcement earlier this year that the move into the rapidly expanding Polish logistics sector was an exciting opportunity to expand Redefine’s European brand by building a significant logistics platform.
“We aim to continue making inroads into markets that offer sustained growth potential, both at home and abroad, and we welcome Pieter to this new role and look forward to the value he will bring to the table,” says Konig.