di Cormac Mac Ruairi, Senior News Editor di Property EU
The volume was boosted by several mega deals in the last days of December involving investors hailing from the US. In the largest, private equity firm Lone Star acquired a diversified real estate portfolio in the UK from Moorfield for about £1 bn (€1.3 bn). In the second-largest, US REIT NorthStar teamed up with London-based Cale Street Partners to buy a European office portfolio from SEB Asset Management for €1.1 bn.
Around the same time, the European listed vehicle established by California-based investor Kennedy Wilson acquired a portfolio of 180 mixed-use properties located across the UK for around €642 mln.
Any fears that investor appetite was sated by the end-of-year splurge were quickly set aside in the week of 5 to 9 January when we reported another 37 large transactions spread across Europe. One of the stories concerned US investor Starwood Capital which is expected to get the green light on Monday 12 January for a €1.2 bn transaction that both marks its entry into Norway’s property market and helps consolidates its position in neighbouring Sweden.
Browsing the other headlines we can see that Asian, Canadian and Middle Eastern equity is set to remain a feature of the European real estate investment market in 2015, alongside a more than healthy sprinkling of domestic European capital.