Jan 2022
Invel welcomes industry heavyweights George Kountouris and David Church
Invel Real Estate (‘Invel’), the real estate investment and asset manager focused on SouthEast Europe and other selected European markets, announces that it has appointed George Kountouris and David Church as Senior Advisors. Both will join the board of Invel’s flagship asset management company and bring nearly 80 years of combined experience in the industry.
George and David join Invel following a period of sustained growth for the business, including launching and sponsoring a dedicated hospitality vehicle for Greece and Cyprus representing a GAV in excess of c. €430 million in 2021, as well as its entrance in the real estate high-yield lending market in 2020 and its continued growth in Italy, where its AUM now stands at approximately €700 million. Since 2013, Invel has become the largest ever investor in the Greek real estate market, heading the acquisition of a 98% equity stake in PRODEA Investments, formerly known as NBG Pangaea REIC for c. €1 billion. Under Invel’s steering, PRODEA Investments has since increased in size and it is now the largest listed REIT in Greece with a GAV of c. €2.4 billion.
George is a renowned figure in the industry and brings more than 38 years of experience in real estate, investment banking, private equity and hedge funds. At present, he is also a member of the Board and of the Investment Committee of PRODEA Investments, as well as a Senior Advisor to Blantyre Capital, a pan-European distressed debt and equities group. Over the course of his career, George’s responsibilities have included being Chairman of the Aerium Investment Committee, CIO and Partner of Portland Capital LLC, Managing Director and European Partner of DLJ Real Estate Capital Partners (Credit Suisse) and Managing Director and European Co-Head of Deutsche Bank Real Estate Private Equity Group, one of the most successful real estate private equity programmes in Europe.
David joins Invel with 35 years’ experience in the sector. He ran the EMEA real estate gaming and lodging corporate and investment banking business at Bank of America Merrill Lynch from 2006 until 2015, taking the team to a market-leading position in EMEA equity capital markets and M&A, before establishing Leon Partners, an independent real estate advisory company. Having executed deals for British Land, Lone Star, Tetrarch and Grange Hotels he sold the Company to HFF and co-led the very successful build out of the new London office. Through his career David has executed numerous landmark transactions including multiple IPOs, take-privates, asset-backed, opco/propco and other corporate deals. Most recently David helped to set up Tetrarch Homes in Ireland, where he is now an investor and non-exec director.
Invel’s Founder and Managing Partner, Christophoros Papachristophorou, said: “George and David are some of the best regarded real estate professionals in the industry and we are very privileged to have them as Board Members. Invel has grown significantly since inception eight years ago and we are excited to continue our ambitious journey with George and David’s contributions.”
George Kountouris said: “Invel’s successful track record and competitive advantage in markets such as Greece, Cyprus and Italy make it a really unique and attractive company to be a part of – I look forward to working with Chris and the rest of the senior team to build on their success to date and to continuing my 25-year close and successful collaboration with Chris.”
David Church said: “I am delighted to have the opportunity to work with Chris again. Over the last eight years he has built a very strong firm with a terrific team and has invested successfully across different strategies in multiple jurisdictions. I am positive that the company has great potential to leverage the deep skill set and am excited to be a part of this next stage of growth.”