Union Investment has emerged as one of the most active buyers of European commercial property in 2009, according to the latest PropertyEU ranking of top investment deals. The Hamburg-based open-ended fund manager accounted for a transaction volume of EUR 1.2 bn over the year, ahead of Deka Immobilien with EUR 980 mln.
Union Investment has emerged as one of the most active buyers of European commercial property in 2009, according to the latest PropertyEU ranking of top investment deals. The Hamburg-based open-ended fund manager accounted for a transaction volume of EUR 1.2 bn over the year, ahead of Deka Immobilien with EUR 980 mln.
The figure places Union Investment in third position, after Société Nationale Immobilière and Global Infrastructure Partners. SNI tops the list following the acquisition of a residential portfolio from fellow French company Icade for EUR 2 bn. It is followed by GIP which acquired Gatwick Airport from BAA (Ferrovial) for EUR 1.67 bn.
Other leading cross-border players in PropertyEU's ranking of top investors 2009 include the National Pension Service of Korea which acquired the HSBC HQ at Canary Wharf, and Tree Inveriones, a consortium of RREEF, Area Property Partners and Europa Capital which bought three BBVA offices and 944 bank premises. Blackstone, London & Stamford, AEW Europe and Trigranit also rank among the top 10 investors in 2009.
The full article is published in the January issue of PropertyEU. Click on the link below to subscribe
