Engel & Voelkers Investment Consulting (EVIC) has appointed Thorsten Brogt as executive director of business development to oversee the roll out of its distressed debt/real estate opportunity funds unit.
The new business division will involve offering support to buyers and sellers of distressed loan portfolios. Brogt, who has been with EVIC since 1 February, will be a key account manager and main point of contact for international clients.
As well as overseeing this activity, Brogt will take charge of the structuring of portfolio and individual sales across the Engel & Voelkers (E&V) network in Germany, which comprises 50 commercial offices in 300 locations.
Brogt has more than 18 years of experience in private equity and real estate funds, having previously been with Hudson Advisors Germany, where he was a director of portfolio management for Germany, Spain and the Netherlands.
Prior to that, Brogt worked in several roles at Commerzbank, including as authorised representative and investment manager at the Commerz Beteiligungsgesellschaft.
“The market for distressed property loans in Germany is yet to be exhausted,” said Kai Wolfram, managing partner of EVIC, in a press release announcing Brogt’s appointment.
He added: “We expect €6 billion in transactions across Germany in the current year. And so we are very pleased to have brought on board Thomas Brogt – an experienced specialist in the area of distressed debt. Through his expertise and international network he will successfully contribute to the continued expansion of EVIC.”
EVIC was established as the umbrella organisation for more than 300 estate agents working across Germany for E&V. It focuses on the structuring of sales transactions for property portfolios (individual sales and partial portfolio sales); the structured expansion of property portfolios for institutional investors; and related services in advisory, analysis and evaluation.