Property investment manager AEW plans to spend €4 billion on European real estate
Real estate investment manager AEW Europe intends to spend up to €4 billion on European property over the next three years. Demand for commercial property from Asian investors is particularly strong.
The Paris-based company already manages around €18 billion of European property for institutional investors. They include pension funds and insurers in Asia, North America and Europe.
Despite slow economic growth, Asian spending on European properties amounted to €14.6 billion in 2013. It is expected to exceed €12 billion for 2014 overall. AEW believes this is the tip of the iceberg.
In Paris, AEW properties include the PB6 office building in La Défense business district. It recently completed the acquisition of a €300 million portfolio comprised of three office buildings in the central business district and another in the southern suburb of Montrouge.
The company believes the French commercial property market is attractive to investors because it is dynamic yet stable compared with other European markets.
Photo Credit – David Bertho