Before joining Peakside, Wüsten worked for more than four years as senior transaction manager at DIC Asset in Frankfurt. During this time, he was responsible for transactions with a total volume of around €900 mln in the retail and office property sector.

From 2012 to 2015, he worked as team leader retail asset management and transaction manager at GE Capital Real Estate. Further steps in his career include Lohnbach Investment Partners and NAI Apollo.

Boris Schran, founding partner of Peakside Capital, said: 'Hendrik Wüsten is an experienced real estate professional who will ideally enhance both our deal sourcing and asset management capabilities. We look forward to working with him to develop and diversify our institutional business.'

At the start of this year, Peakside appointed Frank Schäfer as managing director and head of business development to further expand its institutional business and product range, indicating its ambitions in this field.

Stefan Aumann, founding partner of Peakside, said: 'We remain confident in our business despite the impact that the Covid-19 pandemic will have on the economy. This is due in part to our solidly positioned and diversified portfolio, and in part to the extensive divestments and profit-taking that we were able to realise before the pandemic.

'In addition, we expect market opportunities from the current market distortions, especially in terms of financing.'