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The Ferguson Partners Europe office has seen a busier than expected first two months of 2023. The team hosted a successful breakfast event facilitating a discussion between CFOs across the public and private real estate market, and an energising Rising Stars of Real Estate networking event; our thanks to all those who participated and attended.
An exciting mandate we are pleased to have been engaged on is for the new CEO at RICS – an international role of scale that will be able to make a significant difference to the profession and the built environment globally.
In general, it will be a promising year for those willing to invest in distressed real estate assets following pricing corrections and lack of available capital. As well as this, there is a focus on high-quality products that are ESG compliant, following research that nearly a quarter of London’s commercial office space will be unlawful to let as a result of the government’s new minimum energy efficiency standards (MEES) kicking in from April this year.
In the next few weeks, we are looking forward to attending MIPIM and hope to see some new and familiar faces on the promenade!
March highlights:
Key Transactions
- Generali has acquired a retail asset in Munich for a reported c. €500 million and an office in London for £320 million.
- Dimand and Premia Properties REIC have acquired 573 Greek real estate assets for €438 million.
- Chinachem Group has acquired One New Street Square in London for £349.5 million.
- GreenPoint Partners has acquired a UK carpark portfolio for €343 million.
- Telford Homes and a JV partnership between Ridgeback Group and Angelo Gordon have finalised a £300 million forward-funding deal for three London BTR developments.
People Moves
- Telford Homes has appointed Lesley Chen Davison as COO.
- Richard Croft has stepped down from M7 Real Estate and David Ebbrell will take responsibility for managing the business.
- Goldman Sachs has appointed Sara Roure as Managing Director, Co-Head of the Real Estate Client Solutions Group EMEA and Alice Wilcox as Managing Director, Co-Head of Real Estate Client Solutions & Capital Markets EMEA.
- Ardian has appointed Tami Chuang as MD Investor Relations – Real Estate.
- Clarion Partners has recruited Christian Schulte Eistrup as Managing Director, Co-Head of EMEA Distribution.
Industry Trends and Events
- European real estate’s debt funding gap reached a total of €51 billion in Q4 2022.
- According to BNP Paribas, the logistics market remained robust in 2022 despite a 19% decline in investment.
- In 2022, European real estate funds produced negative returns of -9.3% in Q4 2022, according to MSCI Real Assets.
- Research conducted by BNP Paribas suggests that over 50% of inner-London commercial stock will fail to meet the impending minimum energy efficiency standards (MEES) from 2027.
- UK investors are set to increase their adoption of opportunistic investment strategies up from 11% in 2022 to 35% in 2023, according to CBRE’s Investors Intentions Survey.
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In our ESG Leaders conversation series, CREFC Europe Chief Executive Peter Cosmetatos shares perspectives on successful ESG strategies.
Ferguson Partners Europe Activities
Keep up with our team.
ED&I Panel Discussion at Deloitte
Johanna Vasse and Miriam Dewes recently attended a Deloitte-held discussion on ED&I (Equity, Diversity & Inclusion), corporate responsibility and necessary leadership. On the panel: Soumen Das, SEGRO; Abhishek Jaiswal, Deloitte; Jennie Dorsaint, Norton Rose Fulbright; Jenny Buck, Tesco Pensions.
Future Leaders, Rising Stars Event
Ferguson Partners Europe hosted a gathering for the future leaders of real estate at 100 Wardour Street—a fantastic evening with over 100 attendees and many familiar faces. Please contact us if you would like to come along to future events.
International Women’s Day and WIRE Event hosted by Orion
Ferguson Partners' London office celebrated International Women's Day with cake and Amy McGee, Priya Mehra and Miriam Dewes attended the WIRE event, kindly hosted by Orion.
