Mapletree Investments bets big on European office market

Singapore-based fund hopes to meet its fundraising goal by the end of March

National Weekend Edition /
Feb.February 07, 2021 12:00 PM
Chairman Edmund Cheng (Photos via Esplanade; Unsplash)

Chairman Edmund Cheng (Photos via Esplanade; Unsplash)

Singapore-based real estate asset manager Mapletree Investments is launching a European office fund.
The firm aims to raise a half billion euros, or around $606 million, for the Mapletreee Europe Income Trust and looks to reach that goal by the end of March, according to DealStreetAsia. Mapletree is targeting a 12 percent return on the fund.

Mapletree seeded the fund with seven of its European commercial properties, including three in the United Kingdom and three on the European continent. The firm owns more than 100 properties in Europe, including 10 office properties.

With the coronavirus pandemic squeezing landlords and driving down pricing, it’s a good time to buy. CBRE projects that office rents in the U.S. could fall by as much as 8 percent this year; some European markets could see a similar dip.

Mapletree has around $60.5 billion in assets under management and is also active across Asia, Australia, and the United States. Institutional investors including pension funds and insurance companies are a large source of investment.

In 2019, the firm made a push in the U.S. and European logistics sector with a $1.8 billion fund. That same year it also bought an apartment building in Chicago. [DealStreetAsia] — Dennis Lynch


Related Articles

arrow_forward_ios
Equitable CEO Mark Pearson and Fisher Brothers’ CEO Ken Fisher with 1345 Avenue of the Americas (Google Maps)
Equitable Life Insurance inks 130K sf lease for new office
Equitable Life Insurance inks 130K sf lease for new office
(Ulmer Nest)
German designers roll out weatherproof shelter pods
German designers roll out weatherproof shelter pods
Barcelona Mayor Ada Colau (Getty, iStock)
Barcelona may tighten rules on short-term rentals…again
Barcelona may tighten rules on short-term rentals…again
Vornado's Steven Roth and One Park Avenue (Photos via Getty, Vornado)
Vornado to get $525M to refi One Park Avenue
Vornado to get $525M to refi One Park Avenue
Tishman Speyer CEO Rob Speyer and renderings of Foundry  I. (Getty, Cielo)
Tishman Speyer jumps on Austin bandwagon with $150M deal
Tishman Speyer jumps on Austin bandwagon with $150M deal
Industrious CEO Jamie Hodari (right). Inset (clockwise): TF Cornerstone’s Frederick Elghanayan, Vornado’s Steven Roth, LIVWRK’s Asher Abehsera, Thor Equities’ Joseph Sitt, and George Comfort & Sons’ Peter Duncan (Photo Illustration by Kevin Rebong for The Real Deal)
As flex-office space contracts, Industrious grows NYC footprint
As flex-office space contracts, Industrious grows NYC footprint
1345 Sixth Avenue, 11 Madison Avenue top the list of January deals. (Sapir, WikiMedia)
Manhattan office availability hits record-high 14.9%
Manhattan office availability hits record-high 14.9%
ART: Knotel CEO Amol Sarva and Newmark CEO Barry Gosin (Sarva via Sasha Maslov; Gosin via Newmark)
Knotel files for bankruptcy, set to be bought by Newmark
Knotel files for bankruptcy, set to be bought by Newmark
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...