Capital value growth up
CBRE reported an uptick in capital growth to 0.6% in February following 0.4% growth in January. Offices recorded the highest value increase at 0.9%, driven by the West End on 1.2% and Midtown on 1.1%, while all retail continued to lag at 0.1% .
?AEW takes €1.6bn in 2013
Fund manager AEW Europe raised €1.6bn (£1.3bn) of new capital in 2013. This tally included three transferred mandates in the UK, France and Italy totalling €500m for core and value-add strategies. The firm’s transaction total in the UK and Europe was €2.7bn.
?Grosvenor goes on walkabout
Grosvenor is looking for further indirect investments in Australia after teaming up with Goldman Sachs to back a new $400m (£240m) industrial fund. The UK firm provided an undisclosed sum to Sydney-based Propertylink for the launch of the seven-strong vehicle.
?Stables Market stake sold
A 50% stake in London’s Camden Stables Market and Hawley Wharf has been sold just two months after the site was refinanced with a £230m Nomura loan. Richard Caring and Chelsfield Partners have netted £100m from the sale to a Middle Eastern buyer.
?Miller Group posts profit jump
Scottish developer Miller Group has reported a 57.6% rise in pretax profit to £10.4m in 2013. The Blackstone-backed group reported a stable NAV of £236.7m and a 16% decrease in bank borrowings to £168.8m.
bridget.oconnell@estatesgazette.com
