Arcona Capital: Real Estate Investment Management for Northern and Central Europe
Robust growth in the property markets across Central and Northern Europe has encouraged the continental European operation of Palmer Capital to change its shareholder structure and rebrand as Arcona Capital. This new entity aims to deliver flexible and targeted services for its clients in the region.
The Continental European operating business of Palmer Capital was originally structured in 2007 as a 50/50 joint venture between Palmer Capital Partners London and the Munich-based management team. The current management team of Guy Barker, Ben Maudling and Tina-Kathrin Rauh have now expanded their stake in the venture to over 80 percent.
Arcona Capital, with offices in Holland, Germany, Czech Republic, Poland, Romania and Bulgaria, now manages over €320 million in assets across 10 European countries and operates nine investment funds, five of which are under licence from the Dutch Financial Markets Authority. Its most recent transaction, in February this year, was the acquisition of a portfolio of 10 Czech regional shopping parks from Atrium in a €100 million deal on behalf of a private fund client.
According to Ben Maudling, Director, this development signals the maturing of the business: “With long-term experience in the region and reflecting the strong growth prospects available, we now have the opportunity to make a real impact in our core operating markets. Our established regional platform and longstanding fund management mandates provide a solid base for future expansion. Our recent deal in the Czech Republic is the perfect example. We are grateful for the support from our London partners over the last nine years, and look forward to an ongoing mutually beneficial relationship.”
Ray Palmer, Chairman of Palmer Capital in London, is pleased with what the division has created: “This partnership was originally set up as 50/50 joint venture however the business has now matured to a point where it’s appropriate for management to become the dominant shareholders in line with the policies we have adopted across the remainder of our business. This follows our business model which has successfully operated for 22 years cultivating a culture of entrepreneurship, ownership and partnership.”
This new brand replicates the successful venture capital model established by Palmer Capital in the United Kingdom, with London holding a minority stake and the local venture operating under a unique name.