Asian Sovereign Wealth Centers on Continental Euro Properties


UPDATE: June 17, 2015
The CIC has won the bid, putting out €1.3 billion for the property portfolio.

Asian sovereign wealth funds are looking across the channel into France, Belgium, Germany and Spain for high-quality real estate properties. Stunned by the expensive prices of London core properties, many sovereign funds and Canadian pensions have set their sights toward other world cities in Europe, often partnering with European real estate experts like AXA Real Estate, Hines and Pramerica Real Estate Investors. However, the Chinese sovereign funds are a bit late to the property game, as the Gulf sovereign funds like the Qatar Investment Authority (QIA) have been swooping up investing in hotel properties across France and office real estate in Italy. For example, the QIA through its Constellation unit bought the Le Grand hotel in Paris from InterContinental Hotels Group. The QIA also invested heavily into the mixed-use Porta Nuova development in Milan.

Some of the portfolio includes properties such as Marques Avenue in Troyes and La Vache Noire in Arcueil.

Bidders for CBRE Global Investors’ Mega Portfolio

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