Friday, 21 November 2014
Two of America's best-known investors Simon Property and Warren Buffett, both of which already have indirect exposure to European property, are gearing up direct activities in Spain, separately targeting retail and residential.
French mall group Immochan has confirmed plans to invest ¤1.7bn in 70 retail projects over the next three years focusing on eastern Europe, Asia and France and a portfolio of 2.9m sq.m. by 2017.
French real estate managers Primonial REIM and BNP Paribas REIM France have separately reported retail property investments of over ¤350m, combined, this year, both also seeing further good potential in the segment.
Retail property investment should top ¤60bn in 2015, 20% up, with new shopping centres planned in Turkey, CEE and France to meet surging investor demand, says advisor DTZ. Through 2016, it sees 8% growth in space in Europe.
German house price rises are supported by fundamentals and long-term investor views, with exaggerations only in prime locations in large cities, experts at the CIMMIT conference in Frankfurt said. But others see a bubble forming.
While the pricing and yield impact of the planned German housing rental cap is difficult to predict, one certain result will be an increase in home ownership as smaller landlords sell out, the CIMMIT conference heard on Thursday.
London-based manager InfraRed Capital has closed its latest European property fund at £475m, beating a targeted £400m as investors from Australia, Malaysia, Qatar home in on value-add deals.
German listed housing firm Gagfah more than doubled nine month funds from operations, up ¤62m to ¤141m despite a smaller portfolio, and said it has taken first steps towards external growth in recent weeks.
French REIT/SIIC Société Foncière Lyonnaise sees development potential at the Paris office complex it is buying from Blackstone for a reported ¤232m, and notes the deal also benefits from a tenant in place in the asset for over 150 years.
Four main consumer groups will drive growth in Europe's shopping centres and chief among these is the 'Forever Young' group of baby-boomers in their fifties and even seventies, global advisor CBRE says.
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