The appointments were effective on Nov 5.

IREIT Global has made several changes to its management team, all of them effective from Nov 5.

Current CEO Louis d’Estienne d’Orves has been redesignated to become a non-executive director on the REIT’s board while Peter Viens will become the CEO of the REIT manager.

D’Estienne d’Orves was appointed to become the CEO of the REIT manager from April 2020. Before joining the REIT manager, d’Estienne d’Orves was an executive director at Tikehau Investment Management UK.

Viens was previously at Sofidy, a part of the Tikehau Capital Group, as fund manager from August 2017 before his current role. He has over 20 years of experience in the real estate sector, says IREIT in its Nov 5 release. The REIT’s nominating and remuneration committee recommended his appointment while the board of directors and the Monetary Authority of Singapore (MAS) have given their approvals to his appointment.

The REIT manager has also appointed Emilio Velasco Sanz as its chief investment officer (CIO). Sanz was last head of real estate of Tikehau Capital’s Iberia office. He was there from September 2019 before his current role.

“On behalf of our board members, we thank Louis for his dedication and invaluable contributions to IREIT as CEO and we look forward to his continued support as board director. We also welcome Peter and Emilio to the senior management team. We are positive that they will contribute to achieve the long-term growth plans of IREIT,” says Mark Andrew Yeo Kah Chong, board chairman of the manager.

“It is an exciting opportunity to be able to steer IREIT and forge ahead with our long-term growth plans. Still based in Paris, France, I remain close to the investment properties and local markets so that IREIT can continue to stay nimble and capitalise on the extensive network and expertise of our joint sponsors, Tikehau Capital and City Developments Limited C09,” adds Viens. “Our immediate goal is to improve the occupancy rate of IREIT’s assets and ensure smooth execution of Berlin Campus repositioning.”

Units in IREIT closed at 25 Euro cents (36 cents) for its European counter and at 29.5 cents on its Singapore counter on Nov 4.