Westcore Expands and Diversifies in Europe
SAN DIEGO, May 12 /PRNewswire/ — Westcore Properties announced today
it has expanded and diversified its European operations with the opening of
Airport Development Partners SA (ADP), an affiliate focused on the
acquisition, operation and development of regional airports in Europe.
Westcore has allocated $100 million of capital to provide for the rapid
development of the company’s business plan throughout Europe.
Airport Development Partners, with its main office in Lausanne,
Switzerland, and a project office in Poland, is comprised of a seasoned
team of airport professionals with backgrounds in law, lobbying, operations
and development, according to Marc Brutten, Chairman of Westcore.
Dr. Thomas Frankl will serve as the new company’s CEO. He has 20 years
of senior-level airport industry experience that includes marketing,
business development, corporate affairs and lobbying at an international
level. He is being supported by an Advisory Board comprised of leading
exponents of the aviation industry, namely Alexander Strahl, former
Secretary General of Airports Council International (ACI), Knut
Hammarskjold, former Secretary General of the International Air Transport
Association (IATA), and Marianne Barnabo, CEO of Prisma Consulting, a
leading European lobbying agency specializing in air transport. The team is
completed by Zbig Labaj, a long-time industry expert heading up the Central
and Eastern operations of the company from its office in Poland.
“Airport Development Partners is excited about its association with
Westcore as it enables the company to develop strong synergies,” said Dr.
Frankl. “Many of the assets our company is acquiring have tangential real
estate projects including airport logistics and commercial development that
Westcore’s team of professionals can assist with. Airport Development
Partners’ strong business and high-level government contacts are generating
a wealth of commercial and industrial real estate development opportunities
normally unavailable through market channels.”
ADP is currently negotiating to acquire land adjacent to the Vienna
airport for the development of cargo and logistics facilities. Other
projects include cargo facility development at the Bratislava airport,
major development in Sion, Switzerland, and infrastructure reconstruction
at two Polish airports.
Westcore Sarl, which is responsible for the operations of Westcore
Properties throughout Europe, has acquired 1.6 million square feet of
industrial and office buildings in Switzerland and Austria in the last 14
months.
About Westcore Properties, LLC
Westcore Properties, LLC, is a private, entrepreneurial commercial real
estate investment firm with institutional scale and capabilities that
focuses on investing in markets within the western United States. Formed in
2000, the company and its principals have invested in more than
.2
billion in properties totaling in excess of 10 million square feet.
Westcore has a staff of experienced real estate professionals with a
variety of specializations, who seek and acquire real estate investments
that represent stabilized or value-added opportunities, and aggressively
manage and/or reposition them to function more successfully in their
environment. Westcore is headquartered in San Diego with regional offices
in Los Angeles, San Francisco, and Denver and a European office in
Lausanne, Switzerland.
FOR INFORMATION: Marc R. Brutten, Chairman
(858) 625-4100
Dan Peoples (858) 552-1456
http://www.westcore.net
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Source: Real Estate Newswire