AEW Europe is targeting a 30% rise in the value of its property deals in 2011 to around 3.0 billion, after concluding transactions worth 2.3 billion in 2010 in difficult market conditions, making it one of the leading real estate investment managers in Europe.
Investments totaled 1.2 billion last year, slightly above the 1.0 billion achieved in 2009. The acquisitions were spread across European markets: 45% in France, 17% in Germany, 14% in the UK, 12% in Poland and 11% in Spain. By property sector, office assets represented 45% of the total, retail 26%, logistics 25% and residential 3%.
AEW Europe's sales increased to 1.1 billion in 2010 compared with 800 million the previous year. The transactions were mostly concentrated in the French and UK markets and comprised 45% office and 20% retail assets, with the remainder split between other property sectors.
Despite generally poor rental markets in 2010, AEW Europe was also active in signing new leases for over 500,000 m² of space across Europe. For the most part, these leases were concentrated in the office and retail sectors, followed by logistics assets. The transactions were split between the marketing of vacant space (20%) and the renewal of leases (80%).
Source: Bellier Financial