European fund manager Aerium has completed over €1.16 bn of transactions in 2015, making it one of the most active years in the company’s history, and said it is looking to be equally active this year.
European fund manager Aerium has completed over €1.16 bn of transactions in 2015, making it one of the most active years in the company’s history, and said it is looking to be equally active this year.
Major acquisitions included a German retail portfolio comprising four assets, offering 40,000 m2 of net lettable space as well as a 17,900 m2 located in Potsdamer Platz in the centre of Berlin.
In terms of disposals, the largest last year involved a portfolio of three office buildings in Manchester, Bristol and Aberdeen sold for €468 mln reflecting an average net yield of 5.67%; two prime retail assets located in the golden triangle of Paris for €98 mln; a 24,892 m2 Coop portfolio comprising 17 retail stores throughout Switzerland for CHF 87 mln (€79.6 mln) at a net yield of 6.3%.
Ely-Michel Ruimy, chairman of Aerium said the group would be 'equally busy' in 2016, particularly as it is looking to divest assets from some funds which have matured.
'We also expect to remain active on the acquisition front as we continue to see a number of exciting opportunities to selectively grow our funds through the addition of a diverse range of assets, from core down to opportunistic, to our portfolio,' noted Ruimy.
The group will pay particular attention to the Austrian, Dutch, Portuguese and Italian markets, added Ruimy, where some compelling investment opportunities for commercial assets are starting to emerge.
