Savills 's Invest Manager real estate fund transacted a record EUR 1 billion in Asia in 2017, among the annual global volume of EUR 5.5 billion in 2017, which included a total of EUR 2.95 billion of disposals and EUR 2.55 billion of acquisitions, topping the previous record of EUR 5.0 billion transacted by the firm in 2016.
In Asia, Savills IM fund recorded transaction activities totaling EUR 845 million in Japan alone in 2017, which includes the sale of two sizeable office assets in Tokyo - making Japan as one of the top three countries that Savills IM was particularly active in this year, alongside the UK (EUR 1.73 billion) and Italy (EUR 919 million).
In Australia, the firm recorded total transaction activities of EUR 120 million. Some highlights included the firm’s acquisitions of Quest East Perth, a newly-built 4-star serviced apartment hotel located within Perth’s central business district and the Station Oxley, a shopping centre in Brisbane with a net lettable area of approximately 7,100 sqm. These acquisitions were made in April 2017 and were the first for the firm’s pan-Asian Savills IM Asia Pacific Fund.
As a whole, Savills IM executed a total of 147 individual and portfolio transactions across its local platform of 18 real estate offices. Savills IM had a bias towards logistics in 2017, purchasing over EUR 500 million of assets across Europe and over EUR 150 million of this was purchased in Poland on behalf of a strategic partner.
- Staff Writer APMR News
Article published on : 2018 January 16, 6:45 am GMT+800
Article last updated : 2018 January 16, 10:55 pm GMT +800