Belgium’s Immobel launches investment management arm

Belgium’s largest listed developer, Immobel Group, has launched Immobel Capital Partners, which will undertake the company’s investment management activities.

Described as “a co-investing active manager”, Immobel Capital Partners will operate in the UK and continental Europe with Schroders’ former global head of real estate Duncan Owen as its newly appointed CEO, based in London.

Immobel Capital Partners will concentrate on investment strategies in the office and residential sectors particularly in urban centres which provide opportunities to create “a new generation of sustainable and smart living and workplace environments close to central business districts”, the company said.

Immobel will co-invest alongside third-party capital which it said will ensure “clear alignment with investors”. Assets will be selected that are gaining from long-term structural forces and which are less dependent on the economic cycle, the company added.

Immobel Capital Partners will also build on the Immobel Belux Office Development Fund, launched in 2020.

Owen, who has 30 years’ experience, was global head of real estate at Schroders for nine years and was subsequently, in 2021, a special advisor. Prior to Schroders, he was the CEO of Invista Real Estate which he founded and listed on the London Stock Exchange. 

Immobel Group chairman Marnix Galle said the strategic direction of future investments aligns with Immobel’s purpose of supporting the cities of the future through sustainable urban development. “Our future cities will see residential and office functions much more interwoven – leading to a better ecosystem with happier residents and office workers alike. We believe it is the increased focus on sustainability and technology that will drive this change.”