Revetas Capital Advisors, a real estate investment adviser focussed on restructuring opportunities in Central and Eastern Europe, has opened an office in Budapest, Hungary and has appointed Patrick Wigan as the firm’s first regional director.

Revetas is based in Guernsey and has offices in Bratislava, Budapest, Vienna and London.

Revetas recently announced a strategic relationship with Patron Capital Partners, a real estate asset management firm, which will enable it to invest up to EUR100m in distressed real estate opportunities within the CEE region.

Revetas is currently awaiting approval of its application for FSA registration and is raising a EUR250m fund to invest in CEE distressed real estate assets.

Wigan joins Revetas with immediate effect and will be responsible for sourcing, managing and financing acquisitions for the firm, using his recent experience as acquisitions manager at Portico Investments, an investor in CEE real estate. Prior to this, he was head of investor relations at TriGranit, one of Europe’s largest real estate investment companies operating in seven CEE countries.

Eric Assimakopoulos, managing director of Revetas, says: “We welcome Patrick as an invaluable asset to our growing team. Revetas will undoubtedly benefit from his strong local relationships with banks, agents, sponsors and investors in our target countries.
 
“The addition of Patrick to our team continues our expansion in the region and the development of our proprietary platform which supports banks, investors and local owners in the restructuring, recapitalisation and deleveraging of debt whilst providing much needed liquidity in the market.”