Guillaume Poitrinal, former Unibail- Rodamco SE chairman and chief executive officer, plans to set up a property fund with JPMorgan Chase & Co. real estate analyst Harm Meijer, two people with knowledge of the matter said.
Apollo Global Management LLC, which has raised $3.9 billion to buy distressed European assets, is hunting for hotels and resorts in Spain as tourists from across Europe help pull the country out of a two-year recession.
Land Securities Group Plc , the U.K.’s largest real estate investment trust, led property stocks higher with the biggest increase in 21 months after the company’s annual profit beat analysts’ expectations.
Land Securities Group Plc and Canary Wharf Group Plc formed a venture to build the “ Walkie-Talkie ” tower in London, taking advantage of a shortage of top-quality office space in the city’s main financial district.
Land Securities Group Plc , the U.K.’s largest real estate investment trust, said it will start work on a mall in northern England that’s the first large retail development outside London since the financial crisis began.
Canary Wharf took less than 25 years to fulfill Paul Reichmann ’s vision of building a “mini Wall Street” in the U.K. to rival the City of London financial district. Investors are still waiting for their reward.
Asian investors are the biggest buyers of office property in the City of London this year, wagering that the financial district’s volatile market has changed since it routed Japanese buyers in the 1990s.
Hammerson Plc and Westfield Group formed a venture to rebuild part of the English town of Croydon in south London in a project valued at about 1 billion pounds ($1.6 billion), ending a tussle over the development.