Global real estate investor M&G Real Estate has been awarded a $500 mln (€475 mln) mandate to invest in UK real estate by an unnamed European investor.
The mandate will focus on direct real estate investment opportunities across all main property types in primary markets in the UK.
'This new mandate reinforces our position as one of the most active participants in the UK real estate investment market and is testament to our market-leading reputation for origination, reliable execution and ability to participate in the full spectrum of real estate,' commented M&G chief executive Alex Jeffrey (pictured).
'In the wake of the EU referendum, this commitment by a major European investor signals confidence in the UK real estate market and confirms the status of UK commercial property as a compelling asset class on a long-term basis. This mandate reflects our strategic objective to grow our bespoke separate account business selectively in the UK, Europe and Asia,' he added.
'The UK’s decision to leave the European Union has created a period of political uncertainty, yet the UK’s economy is resilient and clear opportunities exist to take advantage of continued macro trends such as the growth of e-commerce and greater urbanisation. This, allied to a limited supply of good quality, modern real estate in key markets, offers a positive outlook for investors seeking attractive, long term income-led returns,' said Martin Towns, head of capital solutions at M&G Real Estate.
