Europa Capital was a net seller of investments from its value add funds in 2017 as it completed another year of transactions in excess of €1.0 billion. In a year of high activity, Europa Capital continues to experience strong investor interest in stabilised, income producing assets.
Milestones for the fund manager included more than 50% of invested capital returned in its most recently invested value-add fund, Europa Fund IV.
On a strategic level, Europa Capital continued the diversification of its investment management platform through the acquisition of a UK student housing portfolio, for a core-plus return strategy, and the creation of a dedicated specialist PBSA team, Europa Generation. Europa Capital also continued to grow its UK real estate debt fund business, is expanding its real estate senior debt lending activities into continental Europe, and made its first investment for a separate account ‘income plus’ programme.
The majority of Europa Capital’s disposals were made from Europa Fund IV, but Europa also made good progress towards finalising the sale of its few remaining investments in Europa Fund III.
Significant acquisitions were also completed in 2017 on behalf of Europa Fund V, including transactions intended to capitalise on the office recovery in the Munich and Paris office markets, which are both characterised by limited supply and strengthening occupier interest.
Key deals this year include:
February 2017: Disposal of 16,800 sq. metre Cubus office building and adjacent hotel in Dusseldorf for €58.4 million;
May 2017: Acquisition of Le Semaphore 11,500 sq. metre office building situated on the banks of the River Seine in Levallois‐Perret to the West of Paris for €63 million;
May 2017: Acquisition of 1,705 bed UK portfolio of purpose built student accommodation in six regional cities for £158 million;
June 2017: Acquisition of the 42,000 sq. metre Telefonica Germany headquarters office building near the Olympiapark in Munich;
July 2017: Disposal of three office buildings in Budapest totalling 27,450 sq. metres for €61 million;
September 2017: Disposal of over 110,000 sq. metres of retail warehouse parks located in the UK and Netherlands for in excess of €180 million; and
December 2017: Disposal of two office sites in Paris, one of which was previously Renault’s riverfront convention and exhibition centre.
Le Semaphore
Cubus
Jason Oram, Partner at Europa Capital said:
“Europa Capital has continued to deliver a high volume of successful acquisitions and disposals for its value-add clients and has also progressed the diversification of its investment management activities for those clients that are also looking to invest in core and core-plus European real estate investment strategies”.
For further information, please contact:
Gordon Simpson/Elizabeth King, Finsbury: +44 20 7251 3801
Notes to Editors:
Europa Capital
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.
Since 1995, Europa Capital has collectively raised nine real estate funds and committed to over 124 transactions totalling more than €10.4 billion across 19 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Europa Capital is a member of The Rockefeller Group International (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at www.europacapital.com.
