""Cornerstone Real Estate Advisers"":www.cornerstoneadvisers.com/ has named a new CEO for the company's European operations. The real estate investment group recently announced the appointment of Charles Weeks to the executive role.[IMAGE]
Weeks, who will officially become CEO in mid-March, was Cornerstone's co-head of business development for its European division prior to his promotion. His ascension to the post follows the retirement of Iain Reid, who has confirmed his support for Weeks.
Reid said in a recent statement that he is confident in Weeks and ""the rest of the great team, old and new, that makes up Cornerstone Europe in the United Kingdom, the Netherlands and the Nordics. Continuity in the business is a huge asset and[COLUMN_BREAK]
it gives me particular pleasure to hand over responsibilities to Charles.""
In his new position, Weeks will be responsible for the provision of opportunities to European investors expressing interest in Cornerstone's real estate funds, as well as the creation of specific strategies for U.S. investors looking to target European markets. Additionally, Weeks will oversee Cornerstone's expansion into debt origination in the U.K., with a special emphasis on high quality, fixed rate, commercial mortgages.
David J. Reilly, Cornerstone's CEO, noted of Weeks, ""I am confident that Charles will provide the necessary leadership to continue our growth in Europe and build upon the strong foundations that we already have in place. We appreciate all that Iain has done to establish Cornerstone's European operations and to help the company grow its global presence.""
Reid and Weeks have worked together for 16 years, and in a company release, Cornerstone said that it anticipates a ""seamless leadership transition."" Weeks boasts more than two decades of experience in the European real estate investment markets.
""This is an exciting time for the European business, despite challenging market conditions,"" said Weeks. ""Capital flows are happening in both directions, new investment markets are opening, a number of our European projects are gaining traction and there is significant investment in the European business to grow and expand our platform.""