Avignon Capital has recorded a record transaction volume in Europe of €565 mln over the last 12 months.
The European property investment firm said that it continued investing in attractive and well-located assets despite the uncertain economic and political environment, with 18 new acquisitions in the UK, the Netherlands and Germany. In addition Avignon Capital completed seven disposals, some of which delivered triple-digit returns on equity.
In January 2017, the firm sold its Copenhagen prime retail portfolio for €119 mln, producing a 154% return on equity. A month later, the firm sold Østensjøveien 27, an office building in Oslo, for €61 mln, producing an 87% return on equity.
In July, Avignon sold Fontanella 6-8, an office and retail asset in Barcelona, for €65 mln, producing a 135% return on equity.
As part of Avignon Capital’s wider European expansion it opened an office in Berlin in October 2016 to strengthen its on-the-ground knowledge and a local presence.
Avignon Capital has diversified the portfolio further by entering the hotel real estate market this year, acquiring new assets in Berlin, Frankfurt and Amsterdam.
Avignon Capital's entry into the Dutch market this year with the acquisitions of Amsterdam NH Hotel, the OPCW Headquarters in the Hague and Hyatt Place Amsterdam Airport Hotel marks the seventh country in which the firm has done business, following the UK, Germany, Spain, Denmark, Norway and Poland.
Patrick Flaton, chief financial and operating officer at Avignon Capital: 'Our talent to identify long-term property trends and ability to tailor the investment approach to each client’s individual needs is key to the fantastic returns that we generated in the last year. Whether the client is looking to invest in sustainable buildings or particular sectors such as hotels and offices we always customise our strategy to suit the clients` requirements.'
