European commercial property sale-and-leaseback deals are set to reach an annual total volume of about EUR 30 bn ($40.4 bn) as firms seek to unlock the value of real estate on their balance sheets, John Wilson, a senior director at property adviser CB Richard Ellis, told the Reuters Real Estate Summit in London earlier this week. 'The market has probably at least doubled and will probably triple over the next two years,' he added.
European commercial property sale-and-leaseback deals are set to reach an annual total volume of about EUR 30 bn ($40.4 bn) as firms seek to unlock the value of real estate on their balance sheets, John Wilson, a senior director at property adviser CB Richard Ellis, told the Reuters Real Estate Summit in London earlier this week. 'The market has probably at least doubled and will probably triple over the next two years,' he added.
Wilson heads CBRE's Corporate Strategies Team for Europe, which structured HSBC's sale and leaseback of its global headquarters in London. The asset was acquired at the end of April by Spain's Metrovacesa in the largest-ever single corporate property asset deal in Europe for £1.1 bn (EUR 1.6 bn). 'We've studied all the big (European) corporates - and we think there is about EUR 3 tln of real estate assets on the balance sheet that can be transacted over time,' he added.