French fund manager Ciloger says it intends to focus on retail property this year in particular through partnerships with corporates seeking to divest their real estate. In 2009, the company concentrated on residential assets with a total of EUR 358 mln being spent in housing over the course of the year.
French fund manager Ciloger says it intends to focus on retail property this year in particular through partnerships with corporates seeking to divest their real estate. In 2009, the company concentrated on residential assets with a total of EUR 358 mln being spent in housing over the course of the year.
Altogether, the company invested some EUR 657 mln last year after reporting EUR 571m of inflows from investors. Most of the equity was raised for the group's OPCI vehicles, which collected EUR 488 mln in new funds, while the SCPI funds saw inflows of roughly EUR 83 mln in 2009.
Around 54% of investment in 2009 was in residential property, with the rest being spent in commercial property including 16 stores rented to Decathlon (for an investment of EUR 115 mln) and EUR 129 mln worth of transactions in the office and warehouse sectors.
Ciloger currently has around EUR 1.8 bn of assets under management, of which 50% in commercial property, 25% in offices and 25% in residential.
Additionally, the company announced in a separate statement that it has acquired EUR 30 mln worth of property, of which EUR 21 mln for its SCPI Ciloger Habitat vehicle. The fund, with investors including Caisses D'Epargne and La Banque Postale, raised EUR 70 mln of new funds last year.
