FRANCE/GERMANY - Macquarie Global Property Advisors (MGPA) has opened offices in Paris and Frankfurt.
The move comes on the back of increased activity in the European real estate market in the past year, through investment of the firm’s MGP Fund II, which closed in September 2005 on US$1.3bn.
MGPA has so far made seven investments in Europe with a gross asset value of €928m, three of which have been in France and two of which have involved property in Germany.
MGPA’s CEO Jim Quille said: “Given the level of activity and investment in France and Germany now and into the future, it’s a natural progression for us to establish permanent offices in those countries.
“We see a lot of potential in the office and logistics sectors [there]… I anticipate that we could invest at least a further €1 billion in these two countries over the coming 12 months.”
The Paris office will be led by Olivier Vellay and Marius Schöner will lead the Frankfurt office. MGPA already has offices in London, Luxembourg, Bermuda, Hong Kong, Tokyo, Seoul and Kuala Lumpur.
This week's edition of Professional Pensions is out now.
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