Europe Monthly
October 2024
Your source for monthly real assets transactions, people moves and trends shaping the industry.
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October highlights:
Key Transactions
- L Catterton, the LVMH-backed Private Equity firm, has finalised the purchase of Hammerson’s 42% stake, priced at £1.5 billion, in Value Retail.
- Blackstone acquired an 80% stake in a €1.1 billion pan-European logistics platform managed by Burstone Group. Burstone Group will retain the remaining 20% stake and continue to manage the portfolio.
- Unibail-Rodamco-Westfield (URW) sold a 51% stake in the Pasing Arcadan shopping centre in Munich to Ingka Centres, in a deal valuing the asset at €388 million.
- Madison International Realty acquired an 18.7% stake in the Heitman European Residential Investment Partners fund for an undisclosed sum.
- Crosstree and Bloom launched a new £200 million (€239 million) last-mile, industrial and logistics JV with the acquisition of a multi-let industrial estate in West London.
People Moves
- Sophie Van Oosterom has been appointed Global Head of Real Estate Investments at CPP Investments. Following this announcement, Nick Montgomery has been promoted to Global Head of Real Estate at Schroders Capital.
- Martijn Vos has been appointed CEO Europe at Scape Group, a specialist in PBSA and living units, for its flagship brands Scape and Morrow.
- Kelly Cleveland has been appointed to a new combined role of Head of Real Estate and Investment at British Land.
- Steven Noble has been appointed to the newly created role of Chief Investment Officer at Assura.
- Darren Richards has been appointed Chief Investment Officer at LondonMetric Property.
Industry Trends and Events
- Lone Star raised €2.45 billion at the final close of its latest commercial real estate fund, which will target opportunistic and value-add investments.
- BGO raised €2 billion for its fourth European value-add strategy, which will focus on real estate sectors with strong growth potential, including residential, logistics and data centres.
- Unibail-Rodamco-Westfield placed a €1.3 billion dual-tranche green bond. The issuance carries an average coupon of 3.688%, was 4 times oversubscribed and achieved an order book of more than €5.2 billion at its peak.
- RoundShield successfully closed RS Fund V, securing €920 million in commitments. 80% of these commitments came from previous investors, but the fund also attracted 10 new investors from a diverse group of leading institutions representing a variety of sectors.
- NE Property, the wholly owned subsidiary of Nepi Rockcastle, successfully closed a €500 million unsecured green bond, which matures in January 2032, offers a fixed interest rate of 4.25% and an issue price of 99.124%.
New from Ferguson Partners Europe
Latest news and perspectives.
PGIM President and Chief Executive Officer Eric Adler on critical leadership attributes and the evolving investment management space.
LGIM Global Head of Real Assets Bill Hughes on culture, leadership and talent, and advice for tomorrow's leaders.
Landsec Chief Executive Officer Mark Allan on key leadership qualities for today's changing world and challenges facing the next generation of leaders.
Neil Slater, Global Head of Real Assets for abrdn on leadership best practices, the role of ESG in strategy, culture and success.
Frasers' Property Chief Executive Officer Ilaria del Beato on leadership success, ESG leadership and the future outlook.
Schroder's Capital Global Head of Real Estate Sophie van Oosterom on leadership, culture and the future of work.
Ferguson Partners Europe Activities
Keep up with our team.

Ferguson Partners Europe attended Expo Real, Munich
The biggest European trade fair for real estate and investment. Attendees noted a cautiously optimistic outlook for the European market going into 2025, with high interest from investors in specialist managers, particularly within the living and logistics sectors.

Bisnow DEI Event: Attracting, Promoting, Retaining
Ferguson Partners' Priya Mehra recently attended Bisnow’s Rise UK Initiative Elevating Diversity within Commercial Real Estate, where some of the biggest CRE companies demonstrated successful and measurable DEI results, attracting, promoting and retaining diverse teams.

FP Attends Houses of Parliament DEI Event
In commemoration of South Asian Heritage Month, the Ferguson Partners team joined a special event, part of a DEI series, from the City Hindus Network and City Sikhs at the Houses of Parliament.