CBRE Global Investors has completed the acquisition of a portfolio of 16 logistics assets totaling 250,000 sqm on behalf of one of its separate account clients.
Barcelona is one of the cities with the greatest potential for real estate growth in Europe. At least so says the Trends 2015 report, prepared annually by CBRE, first company worldwide consulting and real estate services. Within the Barcelona market, the office segment is presented as the main engine, and in fact, CBRE estimates that revenues will grow between 25% and 30% until 2018.
CBRE international property consultant, selected by IDI Gazeley, Logistics Brookfield Properties, to manage its portfolio of logistics assets in Europe. The portfolio of IDI Gazeley, one of the leading logistics investors and developers worldwide, has 39 logistics warehouses spread across six European countries and which total over 850,000 square meters.
The CBRE Retail Property Fund Iberica (RPFI), managed by CBRE Global Investors, has had unanimous agreement from its Limited Partners to extend the life of the fund for a further five years. A small number of investors have decided to redeem their capital.The original fund duration was ten years from 2000, with a two year extension until April 2012 followed by a number of short-term extensions and a three-year disposal plan approved in December 2013. The newly agreed five year extension will allow the team to focus on the execution of the fund strategy with a priority on protecting and enhancing the value of core assets, including extensions and/or refurbishments, as well as disposing of non-core assets.The five-year continuation phase will be governed through new fund documentation that was approved by all investors.Dennis van Vugt, EMEA CFO, CBRE Global Investors and General Partner of the RPFI, commented: “We are very pleased with the investors’ continued support to invest with our platform in Spain and Portugal. This is testament to their confidence in our team in Iberia and also the changing fortunes of that market where investors see the opportunities and want to remain part of it”.Jose Borregon, Fund Manager of the RPFI, commented: “The extension demonstrates the rapid change seen in the Spanish market during 2014 with many investors now ready to commit to the market for the long-term. The five year extension has now given us the luxury of time to be able to enhance the value of the assets and work on giving our investors the best return on their investment.”RPFI is invested in shopping centers in Spain and Portugal. As of December 2014, the fund’s portfolio comprises 14 assets and the total gross asset value of circa €1.1 bln.
See more: http://europe-re.com/cbre-retail-property-fund-iberica-extends-life-five-years-es/48620
The international property consultant CBRE has closed the sale of the building Gran Via 14 Madrid for around 21 million euros a Mexican private investor.
The movements in the real estate sector happen to a year that promises to Spanish brick after the investment be placed at 2014 levels prior to the crisis. Arcane independent financial advisory firm, has joined Eduardo Fernandez-Cuesta as a new member of the group, whose goal this year is to jump right into the property market at a time of clear recovery.Fernandez-Cuesta, who until August 2013 held the presidency of CBRE Spain, will be responsible for leading the Arcane bet for real estate area with the creation, first, of investment vehicles and, secondly, the implementation of an area of corporate finance for real estate. A division would provide, among other advisory services related to corporate operations in this sector, mergers and acquisitions of companies, corporate debt restructuring or business valuation.Arcano has chosen for his coming-out in this market to a man with over 25 years of experience behind him, with a significant track record on the Spanish real estate sector since has witnessed years of experienced binge heat of boom and the ravages caused by the crisis.His resume speaks for itself. In his 25 years in the consulting, Fernandez-Cuesta he worked in the investment department and promotions for later lead the residential area. In 1998 he became president of the company in Spain until last summer took command of the firm Adolfo Ramirez-Escudero. Since 2013 he is also president of Royal Institution of Chartered Surveyors (RICS), a global organization of real estate professionals."I face this professional challenge with enormous enthusiasm and confidence. Arcano Real Estate provides a competitive advantage to the real estate sector in Spain thanks to our team of professionals, the reference position that the firm has in the market, and deep knowledge we have the industry and its key players, "said Eduardo Fernandez-Cuesta, who will become the 13th member of a group led by Álvaro de Remedios as president and Jaime Carvajal, as CEO.
Read more at: http://www.elconfidencial.com/
Offices and hotels concentrated the largest number of operations during 2014
International funds have risen by 15% the volume of investment this year compared to 2013
