Our React News team has had a busy year scooping and delivering the top breaking news for Pan-European property markets. One industry leader and React subscriber had this to say about what this has meant for him: “For anyone on the fence about purchasing a React News subscription, I would say to them: If you want to stay up to date with the latest investment news in the real estate industry, then React News is the only publication that does this, and it does it in a timely manner that is user-friendly.”

The list below highlights our top read articles from 2023, including complimentary downloads throughout. Enjoy!

“Amundi Speeds Up Disposal Plan with New €2.5bn Office Sale” May: Paris-based Amundi, which has €1.9tr in assets under management, is launching a €2.5bn sale of offices in Germany, France and the Netherlands, React News can reveal. The package, dubbed Project Blue, consists of 10 properties in Paris, Berlin, Hamburg, Frankfurt, Munich, Rotterdam and Amsterdam. It will be marketed by JLL.

“René Benko: the rise and fall of Innsbruck’s golden boy” November: In 1999, 22-year-old Austrian René Benko founded real estate firm Immofina Holding, which later became Signa Holding. Over more than two decades, the self-made billionaire built an empire with iconic investments such as Park Hyatt Vienna, the Chrysler building in New York City and Selfridges in London. Benko’s personal fortune was most recently estimated at €6bn by Forbes. But last week Signa’s shareholders called for Benko to step down. (Download Full Article)

“CBRE Buys Global Investment Banking Business” October: CBRE has completed a deal to buy Sera Global as the advisory giant pushes further into the world of M&A and corporate transactions, React News can reveal. Its acquisition of the business, which was previously known as Brookfield Financial/BFIN until 2021, will add around 30 professionals to its bench. Firm bulking up for further M&A push.

“Trading Suspended in £1bn Fund as Flagship Retail Asset Lined Up for Sale” August: Lothbury Investment Management has suspended trading in the £1bn Lothbury Property Trust after a wave of redemption requests, React News can reveal. In the latest of a raft of sales to meet its investors’ demands for cash, Lothbury is preparing its flagship retail asset, a string of units in London’s Covent Garden, for sale.

“Goldman Sachs Walks Away from £370m London deal with deposit” Jan: US investment bank relies on contractual clause to abort deal without penalty - Goldman Sachs has walked away from a £370m central London office deal with its deposit despite having exchanged contracts, React News can reveal. The US investment bank exchanged contracts last year to buy Sancroft, an office building formerly occupied by Goldman, from Hui Wing Mau, the chairman of Shanghai-based real estate developer Shimao Holdings. Having agreed terms to buy the 303,000 sq ft development at 15 Newgate Street, formerly known as Christchurch Court, almost a year ago, the sale was deemed a done-deal by many in the market.

“JLL to Announce Mass Redundancies in the UK” Jan: JLL plans to lay off almost 300 of its UK workforce as part of its cost-cutting measures, React News can reveal. The redundancies, to be announced early next week, will take place across business lines and include some senior positions. (Download Full Article)

“Blackstone Prepares £250m London Office Sale” August: Blackstone is preparing to sell one of its last remaining London office developments for around £250m, React News can reveal. The US private equity giant has instructed Knight Frank and Cushman & Wakefield to ready Cargo, a 362,775 sq ft newly refurbished Canary Wharf office predominantly let to BP, for sale.

“Oaktree Star Takes the Reins at New $7bn Mega Fund” May: One Investment Management (OneIM), a new platform founded by three senior executives involved with SoftBank’s Vision Fund, has appointed a head of real estate for its debut fund that has so far raised around $7bn, React News can reveal. Alex Mackenzie, a former managing director in Oaktree’s Opportunities Funds based in London, has been hired to lead the real estate investment strategy for the new special situations fund.

“CBRE Snaps Up one of UK's Largest Retail Asset Managers” November: CBRE has confirmed that it has completed the acquisition of Sovereign Centros, one of the UK’s largest retail-centric asset managers, React News can reveal. A team of 30 will be transferring over to CBRE’s existing asset management and development management teams, which will be led by Chris Geaves, currently chief executive of Sovereign Centros. (Download Full Article)

“Blackstone Agrees Latest Take Private Play” April: Blackstone has made an offer to take private Industrials REIT, React News can reveal. The private equity giant is understood to have struck an agreement with management to acquire the company at a price that values the company, inclusive of debt, at around £700m. The offer stands at around 168p per share, a 42% premium to Industrial REIT’s trading as of close on Friday and a premium of around 4% to net asset value, as of the company’s last public valuation last September.

This is just a taste of the valuable news our team publishes each week. React News lets readers gain first-hand information on behind-the-scenes dealings, thus securing the competitive advantage you need to detect opportunities. Follow real-time intelligence on deals in active deal making, know who's buying, who's selling, and why. These inside scoops, market-leading breakings news, and invaluable insights are not available anywhere else and are religiously relied on by senior executives at the largest and most active firms in the industry.

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