PARIS-AEW Europe, based here, says it expects to complete about $4 billion in various transactions throughout the continent this year. The company made the statement Tuesday, and says the estimate is based on the firm being able to take on $3.2 billion in transactions in 2010 following the turmoil of 2009.
The company purchased about $1.7 billion worth of property in 2010, according to a company spokeswoman. The acquisitions were spread across various countries, with almost half of the investments in France and the rest in Germany, the UK, Poland and Spain. Almost half of the property was office, and the other half mostly retail or industrial.
The company sold about $1.5 billion in property last year, including the London offices Wimbledon Bridge House in London for $77 million and City Place House for $137 million. Most of the sales were in France and the UK.
As for leasing, the company signed almost six million square feet of space across Europe in 2010, according to the company in a statement. Most of these were renewals concentrated in the office and retail sectors.
The expectations are somewhat contrary to the company’s own real estate report in November that Europe will face a sluggish economy in 2011. The company claimed then that gains made in the fourth quarter and early first quarter 2011 will diminish after 15 months or so, and investors will continue to be reluctant to take risks. However, the firm has concentrated on core real estate transactions, which are not expected to be affected by minor setbacks, the company said.
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