Chancerygate has hired Nikolay Velev as head of Europe.
Velev, who has 20 years of industry experience, is the former head of Europe at Civitas Investment Management. Prior to that, he worked for Tristan Capital Partners as an investments managing director and at Morgan Stanley Real Estate Investing as an acquisitions associate.
Chancerygate has more than 645,000 sq ft of Grade A multi-let urban logistics accommodation under construction or ready for development across four different sites in Europe at the moment.
Velev said: “Multi-let urban logistics and light industrial property is still a nascent asset class on the continent. This presents Chancerygate with a distinct opportunity to deliver a fully integrated pan-European platform through the provision of sustainable, high specification accommodation in strategic locations. There is an attractive supply-demand imbalance for this type of space throughout most of the high growth urban areas in Europe which presents an opportunity to deliver brand new purpose built stock.
“In addition, existing properties can be refurbished into modern accommodation with specifications and ESG credentials required by tenants and landlords. We have a highly capable and ambitious team operating in Europe and I am looking forward to growing our presence on the continent with them, as well as welcoming new people as we expand.”
Richard Bains, managing director of Chancerygate, added: “We are very pleased and excited to welcome Nikolay to Chancerygate. His pan-European experience and knowledge of key real estate markets that we are operating in, or want to enter, gives us a distinct competitive advantage. Our growth plans for Europe are ambitious and we have funds allocated to invest in both development and investment MLI opportunities across the core European jurisdictions.
“On that note, we anticipate being able to announce the opening of an office in a fourth European country in the near future. Nikolay has a clear mandate to drive further expansion, open more offices and hire colleagues throughout Europe. We look forward to supporting him in the ongoing delivery of our growth strategy.”
