Retail was the strongest performing sector for the third quarter of 2015 as CBRE reported a preliminary volume of €66 bn of real estate investment in Europe, 25% up on the same period last year.
Retail was the strongest performing sector for the third quarter of 2015 as CBRE reported a preliminary volume of €66 bn of real estate investment in Europe, 25% up on the same period last year.
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TOP EUROPEAN DEALS
Q3 2015 (direct property only)
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1. TIAA-CREF ties up with Swedes to build €4b European office platform
3. Chinese SWF, AEW scoop €1.3b European Celsius mall portfolio
4.Deka snaps up huge German retail portfolio for €700m
5. Icade Santé to buy French healthcare package for €651m
6. Redefine inks €600m Aegon UK fund buy in 'transformational deal'
7. Schage takes full control of 4th largest Norwegian mall owner
8. Round Hill enters Czech residential market with huge acquisition
9. TPG buys bulk of CEE developer Trigranit
10. Lone Star said to bag €500m Portuguese mall portfolio
Source: PropertyEU Research
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CBRE latest MarketView Investment Quarterly recorded €19 bn of investment in retail property in Q3, up by €7.3 bn or 61% on Q3 2014. The strongest growth was in Germany, up €3.2 bn or 213%, with Belgium and Norway also attracting high levels of investment.
France saw €7.1 bn of investment, a €3.4 bn increase on Q3 2014 and a strong recovery after what CBRE described as a succession of weak quarters. The strongest growth was in retail which turned in growth of 259% compared to a particularly weak Q3 last year. The largest retail investment deal involved China Investment Corporation and AEW Europe acquiring a portfolio of eight French and two Belgian shopping centres for €1.3 bn.
Some €2.2 bn of capital flowed into the French office sector, up on the same period last year, largely thanks to French REIT Gecina acquiring two offices from Ivanhoe Cambridge for €1.2 bn.
Germany - traditionally the second largest European market after the UK - experienced the biggest leap, thanks to almost insatiable investor appetite for the 'safehaven'. Investment in Germany during Q3 came to €14 bn, up from €12 bn in Q2 this year and €5.6 bn or 65% up on Q3 2014.
In contrast, the UK, the biggest and most mature European real estate market, saw €23.3 bn of investment in Q3, a 'modest'10% increase on the same period in 2014.
http://propertyscope.biz/bpqq8" target="blank">CPPIB adds €466m portfolio to UK student housing platform
Also see the Deal Watch in the November edition of PropertyEU Magazine for more on the top deals and dealmakers of Q3 2015
