Cornerstone Real Estate Advisers Names CEO of European Operations

HARTFORD, Conn., Feb. 10, 2012 /PRNewswire/ -- Cornerstone Real Estate Advisers, one of the world's largest real estate investment advisers, has named Charles Weeks as chief executive officer of its European operations.

(Photo: http://photos.prnewswire.com/prnh/20120210/NE51416)

Weeks, who previously was Cornerstone's co-head of business development for Europe, succeeds Iain Reid, who is retiring. Weeks' appointment will become effective in mid-March.

"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," said David J. Reilly, Cornerstone's CEO. "We appreciate all that Iain has done to establish Cornerstone's European operations and to help the company grow its global presence."

Weeks has more than two decades of experience in the European real estate investment markets and worked closely with Reid for 16 of those years, which will contribute to a seamless leadership transition.

"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."

Weeks will oversee a growing European operation that, among other initiatives:

• Provides European investors with opportunities to invest in Cornerstone's real estate funds;
• Gives U.S. investors opportunities to invest in strategies specific to the European markets; and
• Will expand into debt origination in the United Kingdom, targeting high quality, fixed rate, commercial mortgage loans.

Reid expressed confidence in Weeks' leadership and "the rest of the great team, old and new, that makes up Cornerstone Europe in the UK, the Netherlands and the Nordics. Continuity in the business is a huge asset and it gives me particular pleasure to hand over responsibilities to Charles, who has been my close colleague for 16 years."

For more information about Cornerstone, visit www.cornerstoneadvisers.com.

About Cornerstone Real Estate Advisers LLC

Cornerstone Real Estate Advisers LLC, with affiliate and subsidiary offices in the US, UK, Europe and Asia, is one of the world's largest real estate investment advisers. It provides core and value-added investment and advisory services, including a comprehensive suite of real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. Cornerstone and its subsidiaries have assets under management totaling more than $32 billion. More information is at www.cornerstoneadvisers.com

Contact: Patrick Collins
617-553-0349
[email protected]

SOURCE Cornerstone Real Estate Advisers