Schroders Capital strengthens operational real estate team

Schroders Capital is today announcing it has further strengthened its real estate business with the appointment of James MacNamara as Head of Operational Real Estate Strategies.

James joins from SVP Global where he was the Co-Head of European Real Estate. He will assume the newly-created role on 1 September, reporting to Sophie van Oosterom, Schroders Capital’s Global Head of Real Estate.

In his new role, James will strengthen the hotel management team alongside Schroders Capital’s Frédéric de Brem, Head of Real Estate Hotels, and Stéphane Obadia, Head of Hotel Investment.

In addition, he will lead on identifying and sourcing new strategic investment opportunities to grow Schroders’ operational real estate strategies in traditional and new asset classes, leveraging Schroders Capital’s already strong hospitality and operational expertise.

This latest appointment follows the recently announced successful closing of the team’s first European operating hotel fund, the Schroders Capital European Operating Hotels Fund, which exceeded its hard cap, attracting €525 million of equity commitments on the back of strong investor interest and a significant opportunity set.

James MacNamara has over 20 years of investment experience, having held senior positions across real estate and private equity markets at Kildare Partners, Mount Kellett Capital Management and Perella Weinberg Partners.

Sophie van Oosterom, Global Head of Real Estate, Schroders Capital, commented:

“James has a very strong track record and brings a wealth of experience investing in and adding value in operational real estate strategies. We are therefore confident that the appointment of James will strongly support our team in achieving our goals.

“Current real estate markets demand an innovative investment approach and hospitality mind-set when it comes to sourcing and managing assets in all sectors.

“We are keen to further expand our capabilities in the operational real estate sector, as we believe this is where we can truly demonstrate our value add as a real estate manager.

“We manage each asset as if it is a business itself, to ensure that the services provided and contract terms offered meet changing tenant demands, and that assets are operated efficiently to minimise the use of scarce resources, waste and CO2 output. This expertise is typically found within the hospitality sector. Our focus allows us to secure long term sustainable income and value from assets for our clients.”

Frederic de Brem, Head of Real Estate Hotels, Schroders Capital, commented:

“For almost 20 years now, our hotels team has had an excellent track record generating strong investment returns on behalf of our underlying investors. The appointment of James will strengthen our ability to continue this excellent performance for our clients and share our experience in hotels across other operational real estate areas.”

Over the past month, the Schroders Capital hotels team has announced three hotel acquisitions, totalling approximately €300 million of asset value. The Schroders Capital European Operating Hotels Fund announced its first acquisition, the 146-room Grand Hotel Central in Barcelona’s old town for €93 million.

The team also acquired a €105 million hotel complex in central Berlin for one of its separate account clients and agreed the acquisition of another hotel in Barcelona, in cooperation with the Melia Group, for Schroders Capital’s pan European investment fund, Immobilien Europa Direkt (IED).

The Schroders Capital hotels team comprises almost 40 people operating out of Schroders’ offices in London, Paris and Brussels. The team has a successful track record in acquiring and operating hotels across Europe, having purchased more than a hundred hotels over the last 15 years with more than 50 of these being sold.

Schroders Capital is one of Europe’s largest real estate managers with deep expertise on the ground across real estate sectors. The business aims to deliver superior risk-adjusted returns, portfolio diversification and positive impact in investors’ portfolios.

It has managed real estate funds since 1971 and currently has £16.5 billion (€19.2/US$22.8 billion)* of gross real estate assets under management as at 30 June 2021.