CBRE-owned build to rent housebuilder hires experienced real estate investment boss

London-focused housebuilder Telford Homes has said the investment boss of a German real estate firm will be its new chief executive following the departure of long-time CEO John Di-Stefano.

Anne Kavanagh, currently chief investment officer and board member at Patrizia, where she has overseen investments into €55bn (£47bn) of real estate assets, will take up the top job at Telford from 25 July.

Anne Kavanagh Telford Homes

Her appointment follows Di-Stefano announcing his decision to step down from the £240m-turnover business late last year.

Kavanagh (pictured) has worked at Patrizia since 2017, prior to which she had senior jobs at AXA Real Assets, Lazard, Cambridge Place Investment Management and JLL.

Formerly listed housebuilder Telford, which focuses on build to rent developments in the capital, is now part of US developer Trammell Crow Company’s European operations, following Telford’s £267m purchase by real estate giant CBRE in 2019. Trammell Crow Company is CBRE’s principle residential development subsidiary.

David Neuman, head of Trammell Crow Company’s European operations, said Kavanagh was the “ideal” leader for the business, and had a “truly impressive track record” in transforming and growing global businesses.

“Our vision is to continue delivering first-class sustainable build-to-rent homes throughout London and expanding our footprint geographically, using our unique ability to transform spaces into sustainable communities,” he added.

Trammell Crow said it had $19.8bn (£17bn) of projects in progress and $10.1bn (£8.6bn) in its pipeline as of March this year and employs 700 people across the US and Europe.