LaSalle raises £120m
LaSalle Investment Management has closed its first UK PRS fund with £120m of capital committed. The fund manager is focusing on the build-to-rent market and expects to invest up to £500m in the next few years both on behalf of the fund and separately for institutional clients.
Prologis picks Bannatyne
Ben Bannatyne has been appointed president of Prologis Europe, replacing Philip Dunne. Bannatyne will start in January and work with Dunne during the transition. He will report to Gary Anderson, chief executive for Prologis Europe and Asia, and will oversee the company’s activities across 14 countries and a portfolio of 179m sq ft.
Trump wind farm blow
US presidential hopeful Donald Trump’s attempts to block the development of a Scottish wind farm have been rejected by the Supreme Court. Trump International Gold Club Scotland had claimed that a decision by Scottish ministers to grant consent to a wind turbine project in Aberdeen Bay, 3.5km from its Menie Golf Course, was unlawful.
C&W’s Barke moves to KF
Charlie Barke is to become an equity partner at Knight Frank. He is presently a partner and head of the town centre retail investment team in the capital markets group at Cushman & Wakefield. He spent 16 years at the firm, and will take up his new role in the new year.
Investment to hit £70bn
Research from CBRE has forecast that UK commercial property investment volumes will be as strong in 2016 as those seen in 2015, at around £70bn. Total returns of around 10.1% are predicted next year, which will slow in subsequent years but should remain positive until 2020.
