MILAN, ITALY—Cornerstone Real Estate Advisers LLC has appointed Valeria Falcone as country head of Italy.

Falcone joins from The Carlyle Group where she was a managing director and Real Estate Country head for Italy. Her appointment coincides with the opening of Cornerstone's Italian office in Milan, and marks the next stage of expansion of its European business, following the acquisition of PAMERA Asset Management GmbH in Germany last year. Cornerstone now has operations across the United States, a European business comprising offices in the United Kingdom, Nordics, Germany, Netherlands and Italy, as well as an Asian platform with offices in Hong Kong and Japan.

Reporting to Julian Gabriel, Cornerstone's Head of Investment Europe, Falcone will be responsible for sourcing both new real estate investment opportunities in Italy, as well as capital from Italian institutions wishing to invest in Cornerstone's debt and equity products in the US and Europe.