FirstService splits off Colliers
Colliers International is to be separated from its parent, Canada-based FirstService Corporation. The split will create a global real estate adviser in Colliers and a North American residential property management business in FirstService.
BNP Paribas funds Tishman
BNP Paribas Corporate and Institutional Banking has financed Tishman Speyer’s £130m acquisition of 100 New Oxford Street, WC1, with a £90.4m senior loan. The six-year loan on the 103,500 sq ft office and retail building is split between an acquisition tranche and a £5m tranche to cover costs while the property’s existing vacancy is filled.
Meijer fund raises €500m
ICAMAP, a new fund set up by former JP Morgan head of European real estate research Harm Meijer, ex-Unibail Rodamco chief executive Guillaume Poitrinal and former hedge fund manager Alexandre Aquien, has raised €500m (£372m). The fund will target European real estate mid-caps.
Impax hires EY
Investment manager Impax Asset Management Group has appointed EY’s real estate corporate finance team to provide strategic advice to the company’s sustainable property business. The Impax Climate Property Fund invested £139m in UK offices between 2009 and 2010 but has now largely exited the sector. EY will help Impax find new opportunities in the sustainable commercial property market.
