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Aberdeen to launch €2B resi fund; ex-Unibail CEO joins Capital & Regional board

IFRS 9: Time is Running Out for Insurance Companies to Comply

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S&P Global Market Intelligence

Wind Power by the Numbers: U.S., Canada and Mexico

CUSIP Identifier Requests for New U.S. Corporate Debt Surge in January

Aberdeen to launch €2B resi fund; ex-Unibail CEO joins Capital & Regional board

* The German unit of Aberdeen Asset Management is looking to create a European residential fund by 2016-end, which is expected to have an investment volume of up to €2 billion, Property Investor Europe reported, citing local media. The Luxembourg Sicav-Fis vehicle fund will focus on the acquisition of new residential projects.

* Capital & Regional Plc appointed Guillaume Poitrinal as a nonexecutive director, effective Nov. 1. Guillaume served as Unibail-Rodamco SE CEO from 2005 to 2013. Meanwhile, Executive Director Mark Bourgeois is leaving Capital & Regional and the company will confirm his departure date in due course.

UK and Ireland

* Great Portland Estates Plc named Nick Hampton as a nonexecutive director and chairman of the audit committee, effective Oct. 17.

* Retirement Villages Group Ltd. is undertaking a more than £200 million investment program, its largest development program in its 35-year history, Property Week reported. The development will deliver 500 new residential units and 160 care beds in the south east of England.

* Mountpark Logistics received the go-ahead for Mountpark Southampton, a logistics project in Southampton, U.K., PW reported. The roughly 366,000-square-foot development will be developed in a joint venture with USAA Realco.

* Highbridge Properties is set to begin construction on a 27-acre office complex next to River Clyde in Glasgow, U.K., Construction Enquirer reported. The Magenta development, the largest office development with planning consent in Scotland, will include shops, cafes, a gym and a business center.

* U.K. housing values recovered from a two-month slump post Brexit as it increased by 0.1% in September compared to August, Halifax found. Home prices in the third quarter, meanwhile, were 5.8% higher than in the same period in 2015, according to its House Price Index.

* London's luxury rental sector is recovering following the shock of Brexit, as the number of central London tenancies signed in the £500 to £5,000 per-week range grew 12% in August from the previous month, the London Evening Standard reported, citing Knight Frank.

* Shopping center investment in the U.K. in the third quarter dropped by 90% year over year to around £118 million, PW reported, citing Cushman & Wakefield. Political and financial volatility after the Brexit referendum affected the sector, according to Cushman & Wakefield head of U.K. shopping center investment, Barry O'Donnell.

* Over in Ireland, a total of 75 development-land transactions worth approximately €640 million were completed in the year until Sept. 30, according to a CBRE Ireland report. In the third quarter, 22 land sales were completed for a total of more than €151 million.


* Garbe Industrial Real Estate disposed a €450 million logistics portfolio to Growth Industrial Asset Net-Income Trust, PIE reported. Garbe will continue to act as the investment and asset manager of the portfolio, the report noted.

* The third-quarter office take-up in Germany's top eight cities hit a new record by increasing nearly 12% year over year amid a "strong" demand in the sector, PIE reported, citing BNP Paribas Real Estate. Take-up across Germany was almost 6% above the previous record in 2008 and 18% higher than the 10-year average, according to the report.


Benson Elliot is on the verge of acquiring Hotel Silken in Barcelona for €80 million, PIE reported, citing local media. Bank of America Merrill Lynch is selling the 240-room hotel. The pan-European investment manager in June raised €625 million for its Benson Elliot Real Estate Partners IV fund.

Now featured on S&P Global Market Intelligence

The Eastern Front: Wharf weathers the storm with telecom business sale: Wharf's HK$9.5 billion sale of its telecom unit may be just a prelude to further structural changes, as the family-controlled conglomerate continues its operational review amid Hong Kong's changing business environment.

Data Dispatch: 10,000+ REIT-owned properties near Hurricane Matthew's path: Single-family REITs have the greatest exposure to the storm's path, with more than 7,000 homes in the affected area.

Real Estate Rundown: HCP spinoff issues debt on time, but pays for its tenant's troubles: The company, which is coming into existence largely as a way to remove properties linked to tenant HCR ManorCare from HCP's portfolio, issued debt at notably high rates in a series of recent transactions.

Data Dispatch: Deal spike in Q3 shakes up REIT M&A league tables: New leaders in the financial adviser rankings by deal value and deal count emerged after an active quarter in REIT M&A.

Data Dispatch: Bank of America Merrill Lynch takes 2016 lead among real estate equity underwriters: As of the end of the third quarter, the firm was second for the year among real estate debt underwriters, behind J.P. Morgan Securities.

The Daily Dose Europe, Real Estate edition, is updated as of 6:30 a.m. London time. Some links require a subscription. Articles and links are correct as of publication time.