Europe

The newly rebuilt property business of the French investment manager is seeking to raise its largest-ever value-add fund.

Modest growth is expected in European property markets as macro-economic momentum dissipates, but the sector still offers attractive returns, say experts from Allianz, Ivanhoé Cambridge and MIRA Real Estate.

Part of the expected equity haul will include capital raised for the successor to the Milan-based firm’s second opportunity fund, which is the largest Italy-focused property vehicle to date.

Real estate debt looks well positioned compared with corporate debt, maintains Justin Guichard of Oaktree Capital in this interview shot at sister publication PDI’s New York Forum.

Three investment executives from the country’s Government Pension Investment Fund have joined the life insurance company in recent months, prompting the insurer to increase its allocation from 3 to 10 percent.

The number of fund closes continues to decrease, but equity raised remains robust.

PERE is now calling for submissions for 65 categories in this year’s awards – our largest ever. Help us get the ball rolling by letting us know who deserves to be shortlisted.

Debt market sources say some banks are agreeing to drop interest rate floors as they compete for core, senior financing deals in liquid markets.

As private real estate funds grow larger and more capital flows into multibillion-dollar vehicles, it is unclear whether investors or managers stand to gain more.

The latest Cass report on UK real estate lending found new loan origination to have increased by 4% to £23.4bn in H1 2019 despite fewer property transactions and increased political risks.