Cristian Ustinescu, former investment director with Romanian real estate consultancy firm DTZ Echinox, recently joined Austrian real estate investment fund Immofinanz, as senior transactional manager, according to Mediafax newswire.
Ustinescu will be based in Vienna and cover transactions in Central and Eastern Europe.
Ustinescu, an Academy of Economic Studies graduate, has been working with DTZ Echinox for the last ten years. Under his management, the investment department with the firm assisted South – African fund NEPI in taking over an industrial park in 2009 from BelRom.
Immofinanz is one of the largest real estate investors in Europe, with 1,600 properties with a market value of around EUR 10.2 billion.
In Romania, the fund has 89 properties, worth some EUR 991 million. The fund owns real estate developer Adama, which has been developing residential projects in Romania.