WP Carey appoints Head of European Investments
WP Carey, a net lease REIT specialising in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, has promoted Christopher Mertlitz to Managing Director, Head of European Investments, effective immediately.
In this role, Mertlitz will oversee WP Carey’s European investment activity including the sourcing, underwriting, negotiating and structuring of all European transactions.
“We are thrilled to name Chris as Head of European Investments. Since joining the firm in 2011, he has been critical to the continued growth of our European business and has consistently demonstrated his ability to execute on complex transactions across a multitude of sectors and geographies. His diverse expertise and leadership skills made him the right choice for this position. I am confident that with Chris at the helm, we are well-positioned to continue expanding our European portfolio of net lease corporate real estate,” says Jason Fox, Chief Executive Officer, WP Carey.
WP Carey has been investing in Europe since 1998 and has undergone significant expansion over the past two decades with on-the-ground teams in both London and Amsterdam. Since then, the firm has completed European investments totalling EUR7.1 billion (USD8.6 billion) and has grown its European real estate to over 35% of its global portfolio. Mertlitz has been integral to this growth having helped lead more than EUR1.8 billion (USD2.2 billion) of investments, most recently with the EUR87 million (USD102 million) sale-leaseback of a 27-property supermarket portfolio in Northern Spain and the Balearic Islands with Eroski Sociedad Cooperativa, one of the largest food retailers in Spain.
“I’m honoured to lead our European investment efforts and continue working alongside my colleagues here in London, as well as our US transaction team, on multi-jurisdictional investments that will grow our portfolio with high-quality, mission-critical assets. Together, we will continue to help companies unlock the value of their real estate assets and redeploy the capital into their core businesses through sale-leaseback and build-to-suit transactions,” says Mertlitz.
Prior to joining WP Carey, Mertlitz worked in a number of sectors including engineering, energy and information technology in Austria and Germany. Mertlitz graduated summa cum laude from Oxford University with an MEng in Engineering, Economics and Management where he was also a scholar. He is fluent in German.