Logistics property specialist Panattoni has expanded its team in the recently opened Spanish office with the hire of development manager Carlos Cuevas Serrano.
Cuevas Serrano will be responsible for market analysis, acquiring new clients and land and commercialization of investments. He will work alongside Panattoni's head in the Iberian peninsula, Gustavo Cardozo Lupi, who was recruited last month to lead the company’s entry into the Iberian property market.
Cuevas Serrano has over 15 years of experience in industrial property, having worked for CBRE for the past few years as director of Capital Markets for Real Estate Investments and before then, holding the post of senior Industry & Logistics Consultant at BNP Paribas Real Estate.
‘The Iberian market still has room for growth as most of the logistics stock is obsolete and also there has not been much development in the recent past in some specific markets,’ Cardozo Lupi told PropertyEU in an interview.
Cardozo Lupi joined after leaving Prologis in late 2019, where for the past 13 years served as country manager and senior vice president, leading a team of 11 specialists and a logistics assets portfolio in excess of 1,300,000 m2 worth €1 bn. The Spanish team of Panattoni also includes Miguel Vera Cabrero who was recruited from OHL Developments as director for Structured Finance. The office is currently also looking for new technical hires in the sector.
‘We think Spain and Portugal are still very promising markets,’ added Cardozo. ‘We are currently looking at the major large cities but also at smaller markets with more than 300 thousand inhabitants where there is currently need for last mile and light industry facilities. Our main focus will be on acquisitions of plots of land with planning permits while seeking a balance between pre-let developments and spec projects.’
While the company has not set a specific goal for growth in the Iberian region, Cardozo mentioned that the office has full backing from Panattoni. ‘There is no limit on what we can do if we think it is an opportunity,’ he said.
The announcement follows the opening of an office in the Netherlands two months ago. Panattoni is also present in Germany, the UK and Poland as well as Czech Republic and Slovakia.