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Saturday, 25 May 2013
London, Frankfurt, New York, and Toronto will be the main target markets for Taiwan's insurers controlling $450bn in capital after a new ruling allowing them to invest in foreign real estate for the first time, says realtor CBRE. However, strict controls will limit investment in the short-term to a small fraction of this.
Swiss fund group Immobilien Faubourg is seeking to attract French institutional and retail investors to Germany, arguing that it offers better returns than the French market. This could partly reverse the flow in real estate investment from Germany to France, it says.
Private Nordic real estate group Nordic Real Estate Partners has made the final closing of its NREP Nordic Retail Fund 2, its sixth such vehicle. It gave no precise details but said the fund will have investment capacity of around ¤340m, with leverage capped at 50%.
Netherlands-based Bouwfonds REIM, part of the Dutch cooperative banking system, said it has made the final close of its second institutional parking fund, Bouwfonds European Parking Fund II a German Special Fund, with total equity commitment of ¤187m and ¤270m AUM.
French developer Nexity has agreed off-plan sales for two large office complexes in the suburbs of Paris. Financial details were not disclosed but the two projects comprise more than 100,000 sq.m. of office space in total.
Investment in German retail warehouses, especially in B and C cities, is a major trend as core mall product, still investors’ favourite, becomes ever more difficult to find, local retail specialists told a press briefing in Frankfurt.
With institutional investors pressured to find yield in relatively secure investment classes, European industrial property provides the most attractive solution, says UBS Global Asset Management. Germany and UK have most potential.
EMEA property investment started the year strongly, with a 15.7% rise in first quarter to ¤32.7bn, said realtor Cushman & Wakefield. Even if activity was nearly 25% down on 4Q12, this was not unusual for the first quarter, and it forecasts a 4% rise for the year to ¤136bn.
Germany's Union Investment Real Estate has bought the Senator office new build in Warsaw from Belgium-based developer Ghelamco for ¤120m, marking the entry of its open-ended real estate fund UniImmo: Europa into Polish office
Giant US-based private equity group BlackRock, which on Tuesday announced the takeover of global property manager MGPA, further signalled its new-found interest in real estate equity investment, by taking a stake of over 3% in Belgian REIT Befimmo.
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