Frasers Property Europe’s former CEO Wulf Meinel and King Sturge Germany-founder Bruce Jenyon partnered to launch a new investment and asset management platform for industrial and light logistics real estate assets in the DACH region.
The company, named Stonevest, has secured equity commitments for acquisitions of up to €100 mln and is targeting up to €500 mln in light industrial and logistics properties in German-speaking countries over the next 3-5 years.
Based in Zurich, the firm has already bought, two fully let light industrial properties in Bavaria in an off market deal worth €30 mln.
‘We are seeing a growing willingness to sell among the owners of corporate properties. At the same time, we are seeing a very high level of interest in this asset class from family offices and institutional investors,’ commented Wulf Meinel, founding partner of StoneVest.
Bruce Jenyon, partner at StoneVest, added, ‘Corporate real estate has become an asset class in high demand. We anticipate significant growth in this market in the coming years. In this booming segment, we leverage our long-term expanded market access and provide post-purchase tenant support as partners.’
Wulf Meinel has nearly 30 years of international real estate experience as an investment manager, banker and real estate lawyer. Prior to founding StoneVest, he was CEO of Frasers Property Europe and Geneba Properties, respectively, between 2013 and 2019, and managing director and partner at The Carlyle Group between 2001 and 2012, where he was responsible for the German real estate business. In previous roles, he held leadership positions at LaSalle Investment Management and German mortgage banks.
Bruce Jenyon has more than 30 years of international experience as a real estate consultant and investment manager. Before launching StoneVest's new light industrial product together with Wulf Meinel, he ran his consulting firm Jenyon. In 2002 Bruce Jenyon laid the foundation for the real estate consulting firm King Sturge in Germany. From 2000 to 2002 he was head of Real Estate Structured Finance at Aareal Bank. Prior to that, he worked for Jones Lang LaSalle (JLL) for 12 years and was responsible for the valuation and advisory division in Germany.