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Cushman & Wakefield Investors Expand French Portfolio
14 Jan, 2010, France
Alecta Investment Management are transferring the management of their real estate portfolio in France to Cushman & Wakefield Investors. The portfolio comprises 12 office and warehouse assets located in provincial cities including Lyon, Bordeaux and Toulouse.
David Rendall, European CEO comments, "we are delighted to have won this mandate which has real opportunity for enhancement of the portfolio through active asset management. We see a lot of potential on a selective basis in regional France, notably to benefit from lower volatility at attractive prices."
Alecta is a large Swedish institutional investor with assets under management of over 40 billion Euros, of which about 7 per cent is invested in real estate, mostly in Sweden, the USA, the Netherlands and the UK.
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