Investment by the listed sector into European real estate has slowed significantly compared to the first half of 2012. Listed companies contributed EUR 2.5 bn of the total of EUR 15 bn of publicised real estate transactions in Europe tracked by PropertyEU Research in the period from 1 July to mid-September.
Investment by the listed sector into European real estate has slowed significantly compared to the first half of 2012. Listed companies contributed EUR 2.5 bn of the total of EUR 15 bn of publicised real estate transactions in Europe tracked by PropertyEU Research in the period from 1 July to mid-September.
Our data indicates listed companies were on the buy-side of EUR 3.5 bn of transaction in the first quarter of 2012, and EUR 5.3 bn from April to end-June.
Examining the Q3 data, it is also striking that Malaysian companies were involved in the largest transactions by far carried out by the listed sector. Malaysian property developer SP Setia teamed up with conglomerate Sime Darby and the Employees' Pension Fund of Malaysia to complete the acquisition of the iconic Battersea Power Station in central London for about EUR 500 mln.
Also, Malaysian builder IJM Land made its debut on the UK market in August with the acquisition of a scheme on Royal Mint Street in east London for EUR 465 mln.
German listed real estate company Patrizia Immobilien announced on 11 September that it has completed EUR 250 mln of residential property transactions. These deals, however, were carried out by Patrizia's fund management business rather than on behalf of the company's balance sheet.
The preliminary analysis of the third quarter transactions is ppears in the October edition of PropertyEU Magazine.
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