Knight Frank has emerged as the adviser of the largest transaction recorded by PropertyEU in the first six months of 2012 for which an adviser has been named. The UK-based firm advised German vendor KanAm on the EUR 660 mln sale of two office assets in London to Permodalan Nasional Berhad. The sovereign wealth fund has now invested some EUR 993 mln in London offices on behalf of Bumiputera people in Malaysia.
Knight Frank has emerged as the adviser of the largest transaction recorded by PropertyEU in the first six months of 2012 for which an adviser has been named. The UK-based firm advised German vendor KanAm on the EUR 660 mln sale of two office assets in London to Permodalan Nasional Berhad. The sovereign wealth fund has now invested some EUR 993 mln in London offices on behalf of Bumiputera people in Malaysia.
Jones Lang LaSalle and CBRE each accounted for three deals in the top 10 recorded by PropertyEU over the period. The value of the top 3 deals brokered by JLL came to EUR 1.16 bn while the value of the top 3 transactions on which CBRE advised during the first six months came to EUR 1.02 bn. JLL’s total was propelled by an industrial/office deal in Eindhoven where Dutch electronics group Philips sold its High Tech Campus to a consortium led by private investor Marcel Boekhoorn. The transaction is the biggest single-asset property deal ever to be closed in the Netherlands. The Eindhoven deal was the only one recorded in a provincial city: all other deals in the top 10 were in major European capitals with London chalking up six deals in total.
The top 10 deals in the list below were not the largest recorded by PropertyEU during H1, but are the only ones for which further details regarding the advisers are known. The transactions are based on verifiable data from PropertyEU’s database and exclude confidential transactions as requested by the advisers who took part in the survey. According to our data, JLL and CBRE top the ranking in terms of the total volume of transactions advised on during the first six months of 2012. The figures for each are based on our own database as both declined to take part in the survey. Both advisers have said, however, that their figures for the first half were ‘significantly’ higher than the figures recorded by PropertyEU.
The available data suggests JLL is continuing to expand its position in Europe in a declining market. In the Netherlands, data from sister publication PropertyNL suggests that JLL has seen its lead over its nearest rival widen in recent years: while CBRE reported a 65% fall in transaction volume in 2011 compared to 2010, JLL saw its decline confined to 45%.
