Globally, U nion Investment currently holds some 80 retail properties valued at approximately US$9.6 billion in its portfolio. It has been active in US office markets for more than 30 years.

NEW YORK CITY—As Hamburg-based Union Investment Real Estate GmbH is stepping up its game in North American retail, it has hired Kseniya Merritt to oversee the expansion of Union Investment's retail portfolio in the US and potentially into Canada. Merritt joined Union Investment's New York City office on May 1.

Merritt brings Union Investment 12 years' commercial real estate experience with focus on retail. She has joined the company from Brixmor Property Group, where she ran the capital recycling program for the REIT's South region, consisting of 154 shopping centers. Prior to that, she spent ten years at a private equity firm, Lamar Cos., where she focused on retail and was responsible for deal sourcing, due diligence and securing of equity and debt financing for the transactions.

“In 2016, we handled global acquisitions in the retail sector with a total value of more than US$1 billion,” says Henrike Waldburg, head of retail investment management at Union Investment. ““We are delighted to have now recruited with Kseniya a deal experienced specialist with an excellent network of contacts in the U.S. retail sector.”

That $1 billion of acquisitions last year includes Union Investment's debut in US retail, via a 49% stake in a joint venture with TH Real Estate on four urban retail properties. It included two properties in New York City, 1511 Third Ave. and 636 Ave. of the Americas, along with 856 Market St. in San Francisco and 1608 Chestnut St. in Philadelphia.

Globally, U nion Investment currently holds some 80 retail properties valued at approximately US$9.6 billion in its portfolio. It has been active in US office markets for more than 30 years.