M&G Real Estate, the property fund management arm of the British group M&G Investments, bought four assets in Barcelona, Paris and Copenhagen. The acquisitions, worth more than €190m, were made on behalf of the global real estate fund manager’s core European property platform. The package includes the NAO office building in Barcelona and the 3 Avenue Hoche offices in Paris as well as the Kalvebod Brygge 47 office building and Vimmelskaftet 30, a retail scheme, both located in Copenhagen.
“These deals are aligned with our strategy to acquire prime assets in core locations across Europe. Investor appetite for prime offices and retail in these locations remains strong as rental growth continues, driving long-term income prospects,” said Simon Ellis of M&G Real Estate. “We have successfully raised significant capital in 2015 and 2016, and deployed it across several jurisdictions and asset classes, providing further diversification for our investors. With further capital to deploy, we will continue to target core locations in major European cities.” The company’s core European property platform has deployed €663m in capital since March 2015, with acquisitions made in Italy, Spain, Denmark, Germany, Portugal and France.
