GPT Halverton has been appointed investment and asset manager for the European real estate portfolio of BGP Holdings, the company announced on Friday. The mandate will boost GPT Halverton’s assets under management to over EUR 3 bn.
GPT Halverton has been appointed investment and asset manager for the European real estate portfolio of BGP Holdings, the company announced on Friday. The mandate will boost GPT Halverton’s assets under management to over EUR 3 bn.
GPT Halverton said it would endeavour to maximise value for BGP and, in line with stated strategy, pursue 'an orderly divestment' of the portfolio over the next three years. The BGP portfolio comprises approximately 29,000 residential apartments in Germany and over 35 retail assets located in Germany and Spain.
GPT Halverton’s existing mandates include managing over 300 multi-let industrial, neighbourhood retail and office assets across Europe on
behalf of large institutional investors.
Chairman of GPT Halverton, Jonathan Johnstone, said, 'This appointment further stabilises the GPT Halverton platform and provides secure income
streams for the business over the short-to-medium term.'
GPT Group also indicated that it will begin to review options in relation to the GPT Halverton platform given its intention to focus on its core Australian portfolio. Future options may include a divestment in the near-to-medium term of the business whose longer term interests are more closely aligned with GPT Halverton’s fund investors, relationship banks and employees.
The senior management team of GPT Halverton comprises: Jonathan Johnstone, Chairman; Richard James, Chief Financial Officer; James Buckland, Director, Investment Management; Marco Reijven, Chief Operating Officer The Netherlands and Germany; and David King and Matthew Walker, Senior Fund Directors.
