Savills Investment Management said on Thursday that it has transacted €3.5 bn globally in 2019, including €3 bn in Europe as well as €500 mln in Asia.
The global investment manager said it bought for €2.2 bn in 2019 and sold for €1.3 bn. The firm now manages a company record of €20.75 bn of assets.
Savills IM conducted 81 transactions across 16 countries in 2019, with highlights including the acquisition of €1.25 bn of logistics properties. Notable transactions include a portfolio of forward commitments in Germany and a five-asset portfolio in Poland. The firm also launched European Logistics Fund 3, a successor fund to the €700+ mln European Logistics Fund 2, and has already received capital commitments of €160+ mln.
Other standout acquisitions included a series of purchases on behalf of South Korean investors, including a €145 mln office block in Dublin.
Last year also saw Savills IM appoint a new chief executive officer, Alex Jeffrey, who is based in Singapore. He will lead the next stage of Savills IM’s global growth. The appointment reinforces Savills IM’s commitment to future growth in the Asia-Pacific region, backed by its strong European platform.
Kiran Patel, chief investment officer at Savills IM, commented: 'Real estate markets globally face several challenges. Few would question the view that they are nearing the peak of their rental cycles, and yields are low, particularly relative to the past. Existing vacancies are limited, and new development is muted across most markets. With interest rates low for longer, the asset class has support. Markets are not totally out of balance, and with ongoing structural changes such as e-commerce, urbanisation and demographics, sectoral differences are evolving.'