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HDG Mansur Completes €595 Million Of European Property Sales And Acquisitions In The Last 12 Months
01 March 2007
Within the last 12 months, HDG Mansur, a leading international property specialist and world leader in Shari'ah compliant real estate management, has led real estate sales and acquisitions worth a total of €595 million across 16 deals encompassing 2,191,495 sq ft (203,600 sq m). HDG Mansur has extensive experience managing property portfolios in the UK, Sweden and Switzerland, and in 2006 moved into the German and Dutch markets.
HDG Mansur has managed, developed or advised on €4 billion in real estate investment on behalf of private global clients in North America, Europe and South East Asia with €1.8 billion of real estate assets currently under management worldwide. HDG Mansur is also a market leader in Islamic real estate finance managing investments in an open-ended Shari'ah compliant fund. The company is actively seeking further properties across Europe to add to this portfolio.
HDG Mansur's €337 million in acquisitions on behalf of a fund it manages includes a €190 million German property portfolio of five office buildings offering a total of 832,000 sq ft (77,295 sq m) of commercial space. HDG Mansur also acquired the 19-storey IJsseltoren office building in Zwolle, the Netherlands for €95,850,000, which contains a total of 318,500 sq ft (29,590 sq m).
HDG Mansur led the sale of commercial properties in the UK with a total value of €258 million, encompassing 723,355 sq ft (67,200 sq m). Notably amongst these, was the sale of a 35,000 sq ft (3,251 sq m) building in Curzon Street, in the heart of Mayfair, for €53 million.
Harold D. Garrison, Chief Executive of HDG Mansur comments: "€337 million in real estate acquisitions is a clear indication to the market that HDG Mansur is a serious player in European real estate. 2006 saw our first foray into the German and Dutch markets and we will continue to look specifically for single assets valued at €20 - €100 million and portfolios valued at €50 - €1 billion in these territories. We continue to seek quality leased office space, as well as industrial, retail and residential developments with added value potential.
"We have an ongoing commitment to invest in markets and property that will give our clients the best possible return on their investment. In 2007 our focus will continue to be on the European market, particularly the emerging nations of Eastern Europe, in addition to continuing our study into potential opportunities in China, Japan and India. This year at MIPIM we will be looking to reach our target European audience and explore new business opportunities."