NB Real Estate has had one of its biggest property management contracts renewed.
Royal London Asset Management has reappointed the firm to manage its £2.79bn
NB beat agent Jones Lang LaSalle and management specialists Workman and MJ Mapp to the new contract.
It covers the various property funds managed by RLAM’s property team for parent Royal London Group, pensions arm Scottish Life and other investors.
Richard Williams, who heads NB’s management team, said the division was ahead of its targeted budget.
He added that the slowdown in investment and agency activity was moving asset management higher up the agenda for clients. “In this market, asset management is all about keeping your tenants,” he said.
NB has more than £27bn of property under management, and last month was appointed alongside JLL to manage LaSalle Investment Management’s £1.5bn portfolio.
However, it recently lost the high-profile instruction to manage Capital & Counties’ Covent Garden market estate in central
