Sovereign funds expected to boost commercial property activity
Sovereign wealth fund St Martins Property Corp Ltd is set to start marketing commercial property assets across Europe, according to the Wall Street Journal.
The company, which is the real estate arm of Kuwait, will start pushing £1 billion worth of assets, including individual properties in the UK and on the continent, stated the news provider.
Some buildings could be folded into larger portfolios, although the company has not made it clear which assets are to be shifted.
According to the newspaper, a spokesman for St Martins told Dow Jones Newswires: "The intended sales form part of a wider investment strategy to focus the portfolio on larger property assets in London and selected other major European cities."
Meanwhile, commercial property investment activity is expected to increase further thanks to the Crown Estate's approaching second stage of bids for a stake in London's Regent Street.
Local and international commercial property investors are said to be interested in the company's 25 per cent share in the portfolio.
Posted by Sarah Dudley
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