Europa Capital transaction activity reached over €800m in 2015, balanced between acquisitions and disposals, with the largest transaction being the sale of the Tour Vista office building in Paris.
Europa Capital’s Europa Fund IV, which closed to investors in 2014 with investment capacity in excess of €1bn, undertook the majority of the transactions and has now substantially completed its investment programme concluding investments in the UK, Denmark, Netherlands, Spain, Czech Republic and Hungary during the year.
All the transactions have been in the traditional real estate sectors of office, retail, residential and industrial. Key deals this year include:
- March 2015: Acquisition of a 68,350m2 shopping centre in Corby, UK, for close to €100m
- July 2015: Acquisition of a 25,000m2 office building in Prague, Czech Republic, for €43m
- September 2015: Disposal of a 15,100m2 office building in Paris, France, to the private Qatar- based investment group Alduwaliya Asset Management, for in excess of €130m
- December 2015: Acquisition of a 11,200m2 office building in Guildford, UK, for €54m
Jason Oram, partner at Europa Capital said: “Europa has been very active in 2015 and having successfully executed our asset management initiatives on a number of investments, we were pleased to be able to realise several divestments and to return capital to investors. We anticipate maintaining sales momentum from existing funds, completing the acquisitions programme for Fund IV and moving onto the successor fund over the course of 2016.”
Over the last twenty years Europa Capital have raised eight closed ended real estate funds, investing in over 90 transactions valued at more than €9bn across 18 European countries. Past investments across various funds have included income producing assets such as Mall of Sofia in Bulgaria, value add deals such as Forum Steiglitz in Germany and management buyins including City Box in the Netherlands.
