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At €6.89B, capital raised by European real estate companies YTD lags year-ago figure

Editor's note: This article is updated monthlydepending on capital markets activity. It was last published April 8.

Capitalraised by SNL-covered publicly traded European real estate companies laggedyear-ago figures the first four months of 2016, with the sector raisingapproximately €6.89 billion, a28.8% decrease from the €9.67 billion raised during the same period in 2015.

Senior debtissuances accounted for the largest amount of capital raised for the yearthrough April 30, with €5.09 billion — 24.4% lower than the year-ago amount of€6.74 billion. Capital raised through common equity offerings amounted to €1.79billion, down 29.2% from €2.53 billion in the prior-year period.

Of the 220SNL-covered European real estate companies included in this analysis, 36companies from 14 countries completed capital offerings year-to-date throughApril 30, excluding exchange offerings and offerings from existingshareholders. Of these, companiesbased in France raised the largestamount of capital, at €2.23 billion. United Kingdom-based real estate companiesranked second, with €1.65 billion. This represents a reversal from firstquarter-end, when U.K.-based companies had outpaced those based in France.

Senior debt

Companies includedin the analysis completed 10 senior debt offerings in April, totalingapproximately €2.67 billion.

, adiversified real estate company based in Spain, completed the largest seniordebt offeringin April, raising €850 million in an offering that closed on April 14.

France's completed two€500 million senior debtofferings onApril 20. Also, alstria officeREIT-AG, an office real estate company based in Germany, completeda €500 million senior debt offeringon April 5.

Common equity

SNL-covered publiclytraded European real estate companies completed nine common equity offerings inApril worth €476 million.

, an Ireland-basedmultifamily company, raised the largest amount in a single in April, with anapproximately €124 million offering completed on April 19. Thecompany completed a private placement common equity worth €52.5 million onthe same day.

, a Luxembourg-basedmultifamily company, raised the second-largest amount of common equity, in a€99.8 million offeringcompleted on April 20.

Preferred Equity

,an industrial REIT based in the U.K., was the only company to complete apreferred equity capital offeringin April, raising €2.5 million in an offering completed April 13.

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Use SNL's Global Real Estate Capital Offerings Activity Template to examine offerings by type across a chosen period. Other templates are available in the Excel Template Library.