Thomas Duffell
The European real estate investor has added former RREEF executive Piergiorgio Orru and former Carlyle professional Francesco Molinari to its investment bench.
The Los Angeles-based real estate investment firm and Spanish property development company have already acquired a portfolio with more than 1 million square feet across locations in Spain and Portugal.
.jpg "L&G and PGGM team up for €500m UK JV")
The UK insurer and Dutch pension fund have already sealed a £67 million London investment for the joint venture.
The two investors gained board approval to take over Songbird Estates and gain control of Canary Wharf Group’s portfolio.
The real estate behemoth’s global open-end fund, Global Alpha, has collected more than $1.2 billion of equity commitments since its launch four years ago.
The Connecticut-based fund manager has acquired two property portfolios in Sweden and Norway valued at €1.2 bn.
A €145 million purchase price reflects an EBITDA multiple of approximately 6.4x for the European fund manager.
The London-based fund manager has teamed-up with ‘community interest’ company Catalyst for Homes and is already looking at more than 150 residential development sites across London.
GPs structuring their French real estate investments through Luxembourg face a 33 percent capital gains tax.
GPs subject to the directive will need to report information on their investment strategies, fund exposure and portfolio concentration to local regulators.