Chicago-based private equity firm Heitman has appointed David Brodersen as portfolio manager for its EUR 505 mln value-added fund Heitman European Property Partners IV (HEPP IV), which is led by Otis Spencer.

Brodersen joined Heitman's London office in December 2010 from GE Capital Real Estate. Last month, the company's HEPP IV fund acquired a 75% stake in the Galeria Malta shopping centre and formed a joint venture with Spanish developer Neinver for the management of the 54,000-m2 retail scheme in Poznan, Poland's second-largest city.

With EUR 505 mln in equity commitments, HEPP IV is the fourth and latest in a series of European value-added property investment funds managed by Heitman, which has been active in the region since 1995.