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Alex Griffiths Associate Director - Investor Relations at AEW Europe
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Oaktree Capital Management has raised $694.4 million for Oaktree Real Estate Debt Fund II, according to a filing with the SEC.
BlackRock Real Assets has completed the final close of its Europe Property Fund IV, having secured €700m (£595m) in commitments from more than 30 institutional investors.
The Japanese firm is planning a series of fundraises for US real estate, including a mezzanine debt fund.
Ares Management is planning a $1bn (€922m) capital raise for its latest US value-added real estate fund, according to one of its investors.
FelCor Lodging Trust is to merge with and into a wholly-owned subsidiary of RLJ Lodging Trust in an all-stock transaction, creating a post-merger entity with a pro forma equity market capitalisation of approximately USD4.2 billion and a total enterprise value of USD7 billion.
AREF has pledged to drive change to ensure that open-ended funds continue to work in the best interest of consumers following the publication of the Association of Real Estate Funds’ report by independent consultant John Forbes to assess the impact of the EU referendum result.
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Asia Pacific’s overall investment turnover during the first quarter 2017 increased by 6.2 percent year-on-year as investor sentiment remained positive despite flat year-on-year deal growth, according to CBRE Research’s preliminary Q1 2017 MarketView figures.
Capital controls in China were a key factor causing an overwhelming drop in Chinese outbound investment in Asia Pacific in the first quarter, research by CBRE has shown.
The countries were assessed according to key factors such as political uncertainty, trade exposure, inflation and monetary policy.
Adam Pillay will now head a six-strong investor relations team to support the Charleston, South Carolina-based multifamily real estate firm in its global expansion.
- The market for social real estate still is in the start-up phase in Europe compared to North America, Japan and South Africa, according to the Catella Market Tracker, Senior Housing and Healthcare Property.
In the first quarter 2017, the Los Angeles industrial real estate market began the year where it left off in 2016 with more than 1.2 million square feet of net absorption, according to Transwestern.
- Investor Mandates
- BNP Paribas Real Estate has won a mandate for the property management of the €900m of retail parks acquired by.
- Aparthotel operator Go Native has won a string of build-to-rent (BTR) management mandates across the UK, significantly expanding its footprint in the sector.
- Corestate Capital Holding S.A. has received a managed account mandate for the development of a micro-apartment project in Munich. The mandate was given by W5 Group, the family office of Ralph Winter, founder of Corestate. Upon completion of the project in summer 2018, the asset will comprise 55 fully furnished and self-contained serviced apartment units.
Fidelity International has partnered with Saudi Arabia’s leading investment bank and largest asset manager, NCB Capital, to launch a real estate mandate with a total investment firepower of $300m (£239.75m).
Singapore’s sovereign wealth fund is to invest AUD800m (€582m) in Australian real estate in anticipation of a recovery in some of the country’s more challenged markets.
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UK commercial property values saw their biggest monthly increase in March since December 2015, boosted by a spike in industrial values, according to the CBRE Monthly Index.
MSCI reported that property standing investments in Germany returned 7.8% in 2016 as published in the IPD Germany Annual Property Index. This is only slightly below the record return in 2015 of 8.1%.
U.S. equity REITs had a total return of –1.57 percent in March, according to the FTSE NAREIT All Equity REITs Index, down from February’s 4.01 percent surge. Year-to-date, equity REITs have a total return of 2.55 percent. In 2016, the sector had a total return of 8.63 percent.
UK city house price inflation is running at 6.4 per cent across the country compared to 7.8 per cent in 2016, the latest Hometrack UK Cities House Price Index reveals.
The FTSE 100 index fell 0.69% to 7,378.34 points on Tuesday after ONS data revealed UK inflation was higher than the Bank of England’s 2% target in February for the first time in over three years.
The March issue of the Swedish Catella Real Estate Debt Indicator shows an improvement in the CREDI Main Index from 44.4 to 46.5, driven by more positive perceptions among property companies, which believe access to debt finance has significantly improved.
- UK Capital Transaction - By Region
Nordic investment manager Niam has signed an agreement to acquire private property company HD Ejendomme A/S. The company owns and manages a real estate portfolio that has a total value of €560 million ($608 million), consisting of approximately 2,000 residential units and 73 commercial properties, located across Denmark.
Oxenwood Real Estate, in a joint venture with a Canadian institutional investor, has acquired a portfolio of prime logistics properties in the UK for GBP286 million.
With its 129 retail units, Le Befane is the leading shopping centre in the Rimini region on Italy’s Adriatic coast. The property was opened in 2005 and welcomed some 8.6 million customers in 2016. Union Investment has acquired the shopping centre, which comprises approximately 35,500 m² of retail space, for its open-ended real estate fund Unilmmo: Europa.
- Tritax Big Box REIT is seeking to raise £200m in a share issues in order to fund further acquisitions.
- DekaBank has arranged an acquisition loan to Next Estate Income Fund II in order to purchase an office building in Munich. The fund is managed by BNP Paribas REIM.
- Latest Blog
09 March 2017
In a year of tumultuous political events, total equity raising for real estate funds was 18% down at $130 billion for the year. Within this headline total there were some significant changes in fortune for the major markets Read more »
31 October 2016
Whilst equity raised specifically for investment in continental European real estate by commingled real estate funds is currently up by nearly a third, the total targeting the UK has halved over the last 12 months. Read more »
28 October 2016
The slowing in the rate of equity raising for real estate funds has continued through 2016 and is likely to result in a total raising of around $120 billion this year. This is some 25% down on the previous year. Read more »
21 December 2015
Preliminary estimates show equity raised for real estate funds in 2015 to be $150 billion compared to $185 billion in 2014 and 2013. However, it still remains the third highest year on record. Read more »
03 September 2015
An additional $8 billion was announced during August but at $112bn , the annual total is running behind last year. Read more »