Macquarie scoops real estate veteran from down under

Steven SewellMacquarie Infrastructure and Real Assets (Mira) has appointed a specialist from Australia to lead its European property investment business.

The appointment of Steven Sewell in London as executive director for real estate comes at a time when the firm says many Australian institutions are investing capital overseas.

Sewell is described as a veteran property executive with 17 years’ experience. He joins Mira after a dramatic departure from Australian real estate investment trust Vicinity Limited in August last year.

Sewell's four-year tenure at Vicinity ended abruptly – reportedly in an overnight boardroom ousting. It happened weeks after Vicinity merged with larger regional competitor Novion Property, which created Australia’s second-largest listed shopping-centre owner with assets under management of around €14 billion.

Mira had assets of €3.7 billion under management, as of September 30, 2015, and a portfolio of around 300 retail, commercial, residential and industrial properties in China, Mexico and Australia. The business raised €1.75 billion in capital in the last 24 months.

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