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Retail was the strongest performing sector for the third quarter of 2015 as CBRE reported a preliminary volume of €66 bn of real estate investment in Europe, 25% up on the same period last year.

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TOP EUROPEAN DEALS
Q3 2015 (direct property only)
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1. TIAA-CREF ties up with Swedes to build €4b European office platform
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Source: PropertyEU Research

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CBRE latest MarketView Investment Quarterly recorded €19 bn of investment in retail property in Q3, up by €7.3 bn or 61% on Q3 2014. The strongest growth was in Germany, up €3.2 bn or 213%, with Belgium and Norway also attracting high levels of investment.

France saw €7.1 bn of investment, a €3.4 bn increase on Q3 2014 and a strong recovery after what CBRE described as a succession of weak quarters. The strongest growth was in retail which turned in growth of 259% compared to a particularly weak Q3 last year. The largest retail investment deal involved China Investment Corporation and AEW Europe acquiring a portfolio of eight French and two Belgian shopping centres for €1.3 bn.

Some €2.2 bn of capital flowed into the French office sector, up on the same period last year, largely thanks to French REIT Gecina acquiring two offices from Ivanhoe Cambridge for €1.2 bn.

Germany - traditionally the second largest European market after the UK - experienced the biggest leap, thanks to almost insatiable investor appetite for the 'safehaven'. Investment in Germany during Q3 came to €14 bn, up from €12 bn in Q2 this year and €5.6 bn or 65% up on Q3 2014.

In contrast, the UK, the biggest and most mature European real estate market, saw €23.3 bn of investment in Q3, a 'modest'10% increase on the same period in 2014.

http://propertyscope.biz/bpqq8" target="blank">CPPIB adds €466m portfolio to UK student housing platform

Also see the Deal Watch in the November edition of PropertyEU Magazine for more on the top deals and dealmakers of Q3 2015