US-based investors accounted for some 40% of the EUR 12.9 bn volume of the largest inter-regional real estate transactions in Europe this year.
US-based investors accounted for some 40% of the EUR 12.9 bn volume of the largest inter-regional real estate transactions in Europe this year.
The US contribution has slipped from 50% in 2010 but this is a reflection of increased flows from other regions rather than a slowdown by American investors. Also, big US private equity firms like Blackstone and Cerberus and Lone Star are increasingly targeting portfolios of real estate loans being offloaded by banks rather than focusing exclusively on direct property acquisitions.
Investment by American private equity firms, pension funds and listed companies made up EUR 4.9 bn of the almost EUR 13 bn recorded in PropertyEU's top 50 inter-regional investments from 1 January to mid-November this year. The total volume is about 50% up on the level of large inter-regional deals recorded by PropertyEU Research in 2010.
Asian investors accounted for EUR 2.2 bn, or 17%, of the total volume of EUR 12.9 bn this year. The top Asian investors include companies backed by high-net-worth individuals and sovereign wealth funds and pensions funds from Korea and Malaysia.
Middle Eastern money is close behind, accounting for EUR 2.1 bn of the total for the top-50 deals.
Canadian investors - mostly pension fund managers - accounted for EUR 1.4 bn, or 11%, of the top 50 deals.
PropertyEU's research on the top inter-regional deals is based on our European real estate transaction list, which is updated on a daily basis with information from reported deals. From this data, we produce rankings on a regular basis to identify the investors.
In this case we have used the data to distil a list of the top-50 transactions in 2011. From there we have drilled down further to identity the origin and type of investor on the one hand, and the market and segment of investment on the other. From this we have drawn up a ranking of the top 10 inter-regional investors by volume and top-5 rankings per region of origin.
The research on the inter-regional transactions is published in the December edition of PropertyEU Magazine. Click on the link below to order your company now.
