GLOBAL CAPITAL FLOWS Life on the High Plateau Global Capital Flows Colliers Global Capital Markets Speakers
DAMIAN TERENCE JOHN HARRINGTON TANG MARASCO Head of ASIA AUSTRALIA & Research, EMEA NEW ZEALND
MATTHIAS LEUBE GERMANY
RICHARD CHRISTIAN RICARDO DIVALL KADEL BETANCOURT EMEA GERMANY LATAM
EXPO GLOBAL CONFERENCE | 2019 GEO-POLITICS
Global Trends GLOBAL TRENDS VOLUMES BY GLOBAL REGION
TOTAL GLOBAL REGION
AsiaPac s
Americas
Trillion
US$ US$ Billions US$ US$ EMEA
Source: Colliers/RCA EXPO GLOBAL CONFERENCE | 2019 North America Europe AsiaPac GLOBAL TRENDS (3YR ROLLING AVERAGE) % of cross-border activities GLOBAL CITIES 37% 26% SEOUL TOKYO
71% 52% 18% LONDON BERLIN TORONTO 54% 16% SHANGHAI SAN FRANCISCO
46% 43% HONG KONG PARIS
17% 27% 22% LOS ANGELES NEW YORK WASHINGTON D.C 51% 55% SINGAPORE SYDNEY
Source: Colliers/RCA EXPO GLOBAL CONFERENCE | 2019 GLOBAL TRENDS GLOBAL INVESTORS SECTOR MOMENTUM
2010 2018
€ 74,055 € 103,437 OFFICE 40%
(RETAIL INVESTMENT € 53,627 € 77,254 RETAIL 44% NEGATIVE LAST 12 MONTHS)
€ 16,813 € 31,930 I&L 89%
€ 7,947 € 20,506 RESIDENTIAL 158%
€ 5,431 € 10,261 HOTEL 90%
€ 1,483 € 11,256 DEV SITES 659% EUROPEAN TRENDS Buyer Premiums: Hedging & Yield Spreads
10% 10%
8% 8%
6% 6%
4% 4%
2% 2%
0% 0%
-2% -2%
-4% -4%
-6% -6%
Local yield - EU yield 5yr Hedging Gain/Loss Hedging Impact on Yield Premiums
EXPO GLOBAL CONFERENCE | 2019 EUROPEAN TRENDS EUROPE SUMMARY
Sustainability / STRUCTURED AGENDA Currency Low Rates & Mixed-Use / ADVANTAGE FINANCE COSTS SMART CITIES
Alternatives Lifestyle/Living Lack of FAVOURABLE Entry time Genuine Rental DEVELOPMENT TO RETAIL? GROWTH
EXPO GLOBAL CONFERNCE | 2019 INVESTOR ACTIVITY By Domicile GLOBAL CROSS-BORDER INVESTMENT Australia
Yield Outlook Has Moved & Capital Values Spreads are Growing
EXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT Global XBorder €2bn Australia (€25bn) Last 12 months Destination 3YR Annual Average [€ bn] US 0.6 UK 0.3 Singapore 0.1
US New Zealand 0.1 UK Hong Kong 0.1
European Activity (Current Cycle)
Total investment Net investment FX Blend
3 160 HONG KONG 140 2 120 1 100 0 80 60 -1
SINGAPORE bn) Ilvestment(EUR
40 FX Blend Index Index (2008=100) Blend FX -2 20 -3 0
NEW ZEALAND
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Colliers/RCA EXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT Global XBorder €22bn Singapore (€28bn) Last 12 months Destination 3YR Annual Average [€ bn] China 7.0 US 5.8 Australia 2.6 GERMANY CHINA US UK 2.5 UK Germany 1.3
European Activity (Current Cycle)
Total investment Net investment FX Blend
7 160
6 140 120 5 100 4 80 3 60
Ilvestment (EUR bn) Ilvestment(EUR 2
40 FX Blend Index Index (2008=100)FXBlend AUSTRALIA 1 20
0 0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Colliers/RCA EXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT Global XBorder €12bn South Korea (€30bn) Last 12 months Destination 3YR Annual Average [€ bn] US 2.1 UK 1.6 Germany 1.5 BELGIUM GERMANY US France 1.1 UK Belgium 0.4
European Activity (Current Cycle)
Total investment Net investment FX Blend
12 140
10 120 100 FRANCE 8 80 6 60 4
Ilvestment (EUR bn) Ilvestment(EUR 40 FX Blend Index Index (2008=100)FXBlend 2 20
0 0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Colliers/RCA EXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT Global XBorder €5bn Japan (€32bn) Last 12 months Destination 3YR Annual Average [€ bn] US 2.4 Singapore 0.8 Australia 0.4 CHINA US China 0.2 Taiwan 0.2
European Activity (Current Cycle)
Total investment Net investment FX Blend
1.0 160 0.8 140
TAIWAN 0.6 120 0.4 100 0.2 80 0.0 60 -0.2
SINGAPORE bn) (EUR Ilvestment 40
-0.4 Index (2008=100)FXBlend AUSTRALIA -0.6 20
-0.8 0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Colliers/RCA EXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT Global XBorder €9bn PRC (China) (€536bn) Last 12 months Destination 3YR Annual Average [€ bn] US 8.2 Hong Kong 6.7 UK 2.4 GERMANY US Australia 2.4 UK Germany 1.3
European Activity (Current Cycle)
Total investment Net investment FX Blend
20 160 140 HONG KONG 15 120
10 100 80 5 60 Ilvestment (EUR bn) Ilvestment(EUR 40 0 Index (2008=100)FXBlend AUSTRALIA 20
-5 0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Colliers/RCA EXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT Global XBorder €49bn Canada (€69bn) Last 12 months Destination 3YR Annual Average [€ bn] US 24.3 UK 2.1 Germany 1.2 GERMANY Australia 1.1 UK India 0.9
European Activity (Current Cycle)
Total investment Net investment FX Blend
12 140
10 120 8 100 US 6 4 80 INDIA 2 60 0 Ilvestment (EUR bn) Ilvestment(EUR 40
-2 Index (2008=100)FXBlend AUSTRALIA -4 20
-6 0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019…
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT Global XBorder €65bn US (€510bn) Last 12 months Destination 3YR Annual Average [€ bn] UK 9.6 Germany 9.3 Spain 7.7 NETHERLANDS GERMANY France 5.1 UK Netherlands 3.7
European Activity (Current Cycle)
Total investment Net investment FX Blend
70 160 SPAIN 60 140 50 120 FRANCE 40 100 30 80 20 60 10 Ilvestment (EUR bn) Ilvestment(EUR 40
0 Index (2008=100)FXBlend -10 20
-20 0
2008 2010 2012 2009 2011 2013 2014 2015 2016 2017 2018 2019…
Source: Colliers/RCA EXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT Global XBorder €0.7bn Mexico & Brazil (€2.2bn) Last 12 months Destination 3YR Annual Avg. [€ mn] Mexican Cross-border Destinations US (ME) 208.0 Spain(ME) 91.2 Panama (ME) 89.9 Americas EMEA Portugal (ME) 1.3 32% 30% Brazilian Cross-border Destinations Americas 6% EMEA US (BR) 101.7 6% UK (BR) 27.2 Luxembourg (BR) 13.3
Domestic European Activity (Current Cycle)
38% RLH Properties buys Hotel Villa Magna in Madrid for €210m Domestic 88%
Mexico Brazil Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT Global XBorder €27bn Germany (€66bn) Last 12 months Destination 3YR Annual Average [€ bn] US 4.9 Austria 2.5 UK 2.1 France 2.0 Netherlands 1.9 Netherlands UK European Activity (Current Cycle)
Austria Total investment Net investment FX Blend France 25 120 20 100 15 80 US 10 5 60 0 40
Ilvestment (EUR bn) Ilvestment(EUR -5 FX Blend Index Index (2008=100)FXBlend 20 -10
-15 0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 Global Capital Flows Colliers Global Capital Markets Speakers
DAMIAN TERENCE JOHN HARRINGTON TANG MARASCO Head of ASIA AUSTRALIA & Research, EMEA NEW ZEALND
MATTHIAS LEUBE GERMANY
RICHARD CHRISTIAN RICARDO DIVALL KADEL BETANCOURT EMEA GERMANY LATAM
EXPO GLOBAL CONFERENCE | 2019 Detailed Domicile Slides – specific deal activity as a reference European Investment Australian Activity (Last 12 months) 3
2 2 1 AustralianSuper and TH Real Estate jointly finance £280m One Crown Place, London 3
1 4 Goodman buys developments sites across the board: UK, Spain, Netherlands, Germany, France, for a total 2 2 of just under €150mn. 2 Cromwell buys 11 office assets in Helsinki for €113mn. Various office assets across Poland, for €280mn. 3 3 An additional buy has been for the Business Garden Poznań, 40,000 m2 office park, from Vastint (IKEA Property arm) for ca. EUR 89 mln 2 Pirelli HQ in Milan for €90mn
4 APG-QIC consortium acquires 36% interest in Brussels Airport. Rank Buyer EUR Bn # Props 1 Cromwell Europe 169 4 2 Goodman Group 146 8 3 Cromwell 113 2 4 Macquarie Group 64 4 5 Arrow Capital Partners 16 1 1 Cromwell Europe 169 4 2 Goodman Group 146 8
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA European Investment Singapore Activity (Last 12 months)
3 Mapletree buys pan-European and US logistics portfolio from Prologis for €805mn. 1 6 1 Maplteree forward purchase of €240mn The Sorting Office scheme in Dublin 2 5 2 CDL buys 125 Old Broad Street in London from Blackstone, for € 430mn. 4 Ascendas REIT buys two UK logistics portfolios: 3 OWL Portfolio - 12 assets for £207mn from Oxenwood Catalina; Griffen Portfolio of 26 UK properties for £257.5m (€289.5m) from Griffen Group.
4 GIC buys Tour Ariane in Paris from Unibail-Rodamco-Westfield for €475mn.
5 CapitaLand acquires 36-storey ‘Galileo’ skyscraper in Frankfurt from Patrizia-owned Triuva for €356m. Rank Buyer EUR Bn # Props 1 Mapletree Investments 892 42 2 GIC 850 25 Mapletree buys pan-European and US logistics portfolio from Prologis for €805mn. 3 CDL 655 3 6 Maplteree forward purchase of €240mn The Sorting Office scheme in Dublin 4 Wing Tai Holdings Limited 457 1 5 Singapore Press Holdings 401 19 6 Cromwell EREIT 323 23 7 Mapletree Commercial 320 2 8 Elite Partners Capital 320 98 9 Stamford Land 291 1 10 Ow Chio Kiat 291 1
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA European Investment (Sth) Korean Activity (Last 12 months)
1 2 1 AIP AM, Korea Inv Securities and NH Inv & Securities buy Novo Nordisk office building in Copenhagen for €170mn. 4 3 5 2 NPS buys Goldman Sachs’ London HQ for €1.3bn. 7 6 8 3 Vestas IM represent Hana Financial in €145mn buy of We-Work leased office in Dublin.
HANA Financial and IGIS buy Trianon office in Frankfurt from NorthStar, for €670mn. 4 Also buying The Squaire Frankfurt ‘groundscraper’ from Blackstone for €900mn
5 Meritz Securities led consortium to buy Finance Tower in Brussels from Breavast BV for €1.3bn. Rank Buyer EUR Bn # Props 1 Hana Financial Group 3.72 19
Samsung SRA partners with Primonial REIM, Hanwha Inv & Securities to buy Lumiere office building 2 Hanwha Inv & Securities 1.44 4 in Central Paris for €1.2bn. from Tishman Speyer 3 Samsung Life Insurance 1.37 2 6 Mirae Asset Daewoo partners with Amundi to buy Tour Majunga tower in La Défense, Paris, 4 NPS 1.29 1 from Unibail-Rodamco-Westfield, for €850 mn. 5 Mirae Asset 1.23 5 6 IGIS 0.99 4 HANA Financial and NH Investment, in partnership wiht Meritz Securitie 7 NH Inv & Securities 0.91 4 7 and Wealthcore IM buy Hilton Hotel in Vienna, for €370mn. 8 Samsung Securities 0.69 1 9 Korea Investment Holdings 0.67 4 8 Meritz Securities, with AIP and The Valescon group to buy Twin Towers Bratislava from HB Reavis for €120mn 10 Meritz Financial Group 0.61 3
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA European Investment Japanese Activity (Last 12 months)
Mitsubishi Estates has seeded a core, diversified fund managed by Europa Capital. Europa is 1 1 looking to build a €500mn fund, and has acquired logistics assets in the Netherlands including 4 the Gemini Portfolio 2
Mitsubishi Estates in partnership with Europa Capital buys 2 Nine Elms Park residential development in London (est. dev. costs at €145mn) 3 and Ecosphere – Imagine office building in La Défense, Paris for €75mn.
Mitsubishi Estates in partnership with Europa Capital buys 3 Nine Elms Park residential development in London (est. dev. costs at €145mn) and Ecosphere – Imagine office building in La Défense, Paris for €75mn.
HANA Financial and IGIS buy Trianon office in Frankfurt from NorthStar, for €670mn. 4 Also buying The Squaire Frankfurt ‘groundscraper’ from Blackstone for €900mn Rank Buyer EUR Bn # Props Japan’s €1.17trn Government Pension Investment Fund (GPIF) awarded its first global real estate mandate in 2018. The world’s largest pension fund has announced the hire of CBRE 1 Mitsubishi Estate 317 3 Global Investment Partners to manage a global fund-of-funds account for a ca. 5% allocation 2 Seibu Holdings 68 1 to CRE – an estimated $65bn 3 Kajima Corporation 60 5 4 Takenaka Corp 20 1
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA European Investment PRC (Chinese) Activity (Last 12 months)
1 GLP buys distribution warehouse in Northampton from Panattoni, for €90mn 2
1 Further acquisitions comprise industrial development land in the UK, Netherlands 3 and Spain. 5 As part of a global divestment of assets, Anbang sells DoubleTree Hilton Amsterdam for €430mn 2 To AXA IM.
GLP buys distribution warehouse in Northampton from Panattoni, for €90mn 4 3 Further acquisitions comprise industrial development land in the UK, Netherlands and Spain.
Fosun buys former Feira Popular landplots in Lisbon for €270mn 4 Rank Buyer EUR Bn # Props
CNIC has been on a steady acquisition trail in Hungary, having acquired logistics assets since 2017. 1 Fosun Int'l Ltd 274 1 This first squarely with the expansion of the new rail freight route Being built 2 GLP (Nesta) 156 5 5 by Chinese contractors from the Chinese owned Piraeus port in Athens, as part of the ‘one belt, one road expansionary policy 3 Cindat Capital Management 152 1 4 Huawei Tech Co Ltd (CHN) 41 1
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA European Investment Canada Activity (Last 12 months)
QuadReal Property and Round Hill Capital buy €84 mn Apartment block in Dublin from 1 4 1 2 Cosgrave Property Group
2 ECRE buys €0.55bn Dutch residenial portfolio from Rubens Capital JV CAPREIT 3 Hines and Oxford Property Group buy €0.48bn Office asset in Puteaux, Ile-de-France, from Groupama 3 Brookfield AM and Hemisphere buy an office asset in Paris for ca. €150 mn, 5 from Europequipements, Eiffage Construction - Immobilier
Establish new office in Berlin to focus on German real estate market 4 Rank Buyer EUR Bn # Props European Commercial Real 1 0.89 88 5 Brookfield also known to have acquired major destination malls in UAE Estate Ltd 2 OMERS 0.74 3 3 CAPREIT (Canada) 0.48 63 4 CDPQ 0.45 15 5 Brookfield AM 0.40 2 6 Dream Global REIT 0.32 11 7 BMO Financial Group 0.26 29 8 PSP Investments 0.21 2 9 Westmont 0.13 2 10 Canada Life 0.11 2
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA European Investment US Activity (Last 12 months) 6
5
2 Citigroup buys €1.35 bn Citigroup Tower from AGC Equity Partners 3 1 Starwood buys €288 mn South Bank Tower from Hermes/CPP 1 2 Blackstone buys €1.6 bn UK portfolio from Network Rail
3 Kennedy Wilson increases holdings to 50% of Capital Dock Portfolio from NAMA
4 Cerberus buys €5 bn portfolio, Project Marina from BBVA 4
Madison International forward purchase of 5 38,000 sqm Bjorvika, a mixed-use, urban infill asset in Oslo. From Oslo S Utvikling Rank Buyer EUR Bn # Props 1 Blackstone 6.1 344 Starwood buys Avara 2,200 unit residential portfolio across Finland, 50% of assets in Helsinki. 2 Cerberus 4.5 201 6 Total portfolio ca 128,000 sq,m. 3 CBRE Global Investors 3.0 155 4 Invesco 1.9 14 5 Citigroup 1.4 2 6 Lone Star 1.3 4 7 Goldman Sachs 1.3 11 8 Prologis 1.2 37 9 Hines 1.0 19 10 RFR Realty 0.9 4
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA European Investment Germany Activity (Last 12 months)
5
1 1 DWS Group buys UK student housing portfolio for €660 mn from Select Property.
DEKA Immobilien buys London West End office building for €510 mn from Tishman 2 3 2 Speyer JV PSP Investments 4
3 DEKA Immobilien buys Czech logistics portfolio for €460mn from CTP.
Vonovia buys Austrian company Buwog and their predominantly Residential portfolio for 4 €3bn.
Vonovia buys Swedish company Victoria Park AB and their mixed portfolio in Sweden for 5 €1.6 bn. Rank Buyer EUR Bn # Props 1 Vonovia SE 6.24 274 2 DWS Group 2.19 27 3 DekaBank 1.76 14 4 Allianz 1.53 25 5 Union Investment 0.96 14 Bayerische 6 0.94 48 Versorgungskammer (BVK) 7 Patrizia 0.72 28 8 KanAm Group 0.42 18 9 Event Hotels 0.36 9 10 Commerz Real 0.32 3
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA GLOBAL CROSS-BORDER INVESTMENT EUR 73bn UK Last 12 months Destination 3YR Annual Average [€ bn] Germany 4.5 France 2.8 Netherlands 2.1 GERMANY Spain 1.4 UK US 1.2
European Activity (Last 12 months)
Total investment Net investment FX Blend France Spain 25 120 20 15 100 10 US 5 80 0 60 -5 -10 40
Ilvestment (EUR bn) Ilvestment(EUR -15 FX Blend Index Index (2008=100)FXBlend -20 20 -25
-30 0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 European Investment
UK Activity (Last 12 months) 4 1 1 3
4
Aberdeen buys, predominantly residential and office assets across 1 Finland, Norway, France and Spain, for over €1bn. 3
2 Henderson Park buys Parisian hotel from GIC, for €550mn 1 2
Tristan Capital Partners buys 77, mostly office assets across Western Europe and the Nordics, for €1.8 bn. Most prominent deals include: 3 1 3 The Colonial Office porfolio in Spain for €280mn Helsfyr Atrium in Oslo for over €120mn
Kildare Partners aquires 100% of the shares of Technopolis 4 along with its 17 campuses across in the Nordics and Baltics, for €730mn. Rank Buyer EUR Bn # Props 1 Tristan Capital Partners 1.8 77 2 Kildare Partners 1.6 20 3 Savills IM 1.2 26 4 Aberdeen Standard Invest 1.1 55 5 Henderson Park 0.9 12 6 Round Hill Capital 0.5 34 7 M7 Real Estate 0.5 67 8 Nuveen Real Estate (UK) 0.5 13 9 M&G Real Estate 0.4 9 10 Benson Elliot 0.4 9
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA GLOBAL CROSS-BORDER INVESTMENT EUR €81bn HONG KONG Last 12 months Destination 3YR Annual Average [€ bn] China 61.4 UK 4.1 US 2.1 CHINA US Japan 1.4 UK Singapore 1.4
European Activity (Last 12 months)
Total investment Net investment FX Blend
7 160 6 140 JAPAN 5 120 4 100 3 80 2 60 SINGAPORE
Ilvestment (EUR bn) Ilvestment(EUR 1 40 FX Blend Index Index (2008=100)FXBlend 0 20
-1 0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 European Investment Hong Kong Activity (Last 12 months)
1
CKA Holdings to buy UK Greene King brewery for £2.7 bn. The 220-year-old pub and beer company is 1 being sold for the equivalent of £1m for every one of its 2,700 pubs, restaurants and hotels. 2 Lai Wing-to buy McQueen Flagship store on London’s Old Bond Street for €170mn.
2 Wing Tai Properties buys 8 Salisbury Square in London from Cheyne Capital JV Greycoat for €250mn. Colliers advised. Also buys London’s 30 Gresham Street from DWS and Samsung for €460mn
Rank Buyer EUR Bn # Props 1 Manhattan Group 457 1 2 Wing Tai Properties 248 1 3 Lai Wing-to 227 2 4 Tenacity 77 1 5 Lee Kum Kee 52 1 6 Cheung & Sons 37 1 7 Ship Street Advisors 35 3 8 Far East Consortium Int'l 28 1 9 Regal REIT 26 1 10 SMC Property 21 1
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA GLOBAL CROSS-BORDER INVESTMENT EUR 2bn MALAYSIA Last 12 months Destination 3YR Annual Average [€ bn] Singapore 1.0 Poland 0.2
GERMANY POLAND Australia 0.2 CHINA China 0.1 Germany 0.1
European Activity (Last 12 months)
Total investment Net investment FX Blend
2.5 140
2.0 120
1.5 100
1.0 80
0.5 60
SINGAPORE bn) Ilvestment(EUR 0.0 40 FX Blend Index Index (2008=100)FXBlend AUSTRALIA -0.5 20
-1.0 0
2016 2017 2018 2019 2009 2010 2011 2012 2013 2014 2015
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 European Investment Malaysian Activity (Last 12 months)
1
KWAP buys student housing assets in Edinburgh and Manchester from IP IM JV Maven Capital, for 1 €45mn. 2 PNB and EPF increase their stakes in Battersea Power Station development buying the £1.6bn (€1.76bn) of commercial assets within the second phase of the Battersea Power Station (BPS) project in 2 London. Permodalan Nasional Berhad (PNB) and the Employees Provident Fund of Malaysia (EPF) will hold 65 and 35% stakes in the JV respectively
YTL Corp buys Edition Hotel in Madrid, from KKH Capital Property JV Perella Weinberg Partners 3 For €220mn. 3
Rank Buyer EUR Bn # Props 1 YTL Corporation 220 1 2 KWAP 45 2 3 Advance Synergy 12 1 4 ENRA Group 4 1
sold bought home Global Europe Europe Deals EXPO GLOBAL CONFERENCESource: | 2019 Colliers/RCA GLOBAL CROSS-BORDER INVESTMENT EUR 3.0bn BAHRAIN Last 12 months
Destination 3YR Annual Average [€ bn] US 1,306 China 393 GERMANY CHINA US Germany 120 UK UK 86 UAE 47
European Activity (Last 12 months) Rank Buyer EUR Mn # Props European Commercial 1 0.89 88 Real Estate Ltd 2 OMERS 0.74 3 3 CAPREIT (Canada) 0.48 63
UAE 4 CDPQ 0.45 15 5 Brookfield AM 0.40 2 6 Dream Global REIT 0.32 11 7 BMO Financial Group 0.26 29 8 PSP Investments 0.21 2 9 Westmont 0.13 2 10 Canada Life 0.11 2
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT EUR 1.1bn KUWAIT Last 12 months
Destination 3YR Annual Average [€ bn] US 768
NETHERLANDS UK 250
CANADA Canada 41 UK Netherlands 40 Singapore 6
European Activity (Last 12 months) Rank Buyer EUR Mn # Props 1 Cale Street Partners LLP 210 1 2 National Bank of Kuwait 89 2 US 3 Global Securities House 46 1 4 Soor Capital 45 1 5 Arzan Financial Group 40 3
SINGAPORE 6 Ahli United Bank 33 1
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT EUR 0bn OMAN Last 12 months
Destination 3YR Annual Average [€ bn] Germany 34 South Korea 3 GERMANY SOUTH KOREA
European Activity (Last 12 months) Rank Buyer EUR Mn # Props
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT EUR 0.6bn KSA Last 12 months
Destination 3YR Annual Average [€ bn] UK 274 US 112 JERSEY FRANCE ITALY US Italy 80 UK France 26 Jersey 17
European Activity (Last 12 months) Rank Buyer EUR Mn # Props 1 SEDCO Holding 115 2 2 Rashed AI Rashed Group 108 1 3 Arbah Capital 58 1 4 AIMS Holding 44 4 5 Sidra Capital 26 1
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 GLOBAL CROSS-BORDER INVESTMENT EUR 2.2bn UAE Last 12 months
Destination 3YR Annual Average [€ bn] US 970 UK 592 GERMANY ITALY US India 133 UK Germany 131 Italy 63
European Activity (Last 12 months) Rank Buyer EUR Mn # Props Gulf Islamic Investments 1 162 1 GII 2 Select Group 125 2 3 Dubai Holding 105 1 INDIA 4 Abu Dhabi Government 100 1 5 LuLu Group 53 1 6 NEO Capital 50 1 7 Mubadala Investment 30 1 8 Kasamar Holdings 23 1 9 SRG Holding 19 1 10 Capital Investment 9 1
Source: Colliers/RCA CITYSCAPEEXPO GLOBAL CONFERENCE | 2019 THANK YOU