REAL ESTATE – The real estate fund arm of Australian investment bank Macquarie has this month opened offices in Frankfurt and Paris to step up its investments on the European continent.

"We see great potential for both office and logistical real estate in France and in Germany.

We therefore plan to invest at least one billion euros in both of these markets over the next 12 months," said Jim Quille, chief executive of Macquarie Global Property Advisors (MGPA).

In the past year, MGPA invested €928m to acquire 21 properties – including office, logistical and residential – across Europe.

MGPA’s new Frankfurt office will be headed by Marius Schöner while its Paris office will be led by Oliver Vellay. "Marius Schöner und Oliver Vellay bring a wealth of experience to their new positions. This will enable us to expand our presence and investment portfolios in these countries," said Quille.