Cordea Savills, the property manager, is buying SEB Asset Management AG, the German asset manager owned by Swedish banking group SEB, in a deal valued at up to €21.5m in cash. Cordea Savills will rebrand following the acquisition as Savills Investment Mangement. Barbara Knoflach, current CEO of SEB AM will leave the company as part […]
Cordea Savills’ UK Income & Growth fund has completed the purchase of Integra II, Maidstone for £5.2m (€7.3m). This recently constructed industrial unit is predominantly let to Grafton Merchanting for a term of 10 years and generates an initial yield of 6.7%. In 2014, the fund took advantage of the prevailing strong market conditions to […]
International property investment manager Cordea Savills has announced a £47.97m (€63.78m) sale of a City of London office building on behalf of its European Commercial Fund to a French pension fund. The European Commercial Fund completed its initial investment phase in 2014 at total investment volume of more than €750m invested in 20 properties, it […]
Cordea Savills transacted £2.1bn (€2.7bn) in Europe in 2014. Thanks to the positive real estate environment, purchases of £1.8bn outnumbered sales of over £300m, resulting in net investment of £1.5bn, the company said. “With positive returns across most markets, 2014 was an attractive entry point to deploy capital. However, not all markets were running at the […]
Property investment manager Cordea Savills has appointed Cristiano Ronchi (pictured) as head of Investment, Italy, and as a member of the Board of Directors of the Italian regulated entity, Cordea Savills SGR. Ronchi was previously director of Investments at Cordea Savills. He joined the company in 2005 as Portfolio Manager for Pan-European Funds. His responsibilities […]
Property investment manager Cordea Savills has strengthened its residential team with the recruitment of Julian Symons as director of Development. Prior to joining Cordea Savills, Symons spent 14 years at McBains Cooper where he led the risk management team and worked on residential developments in London including The Lancasters, a luxury residential scheme overlooking Hyde […]
Cordea Savills has acquired a retail property in a suburb of Stockholm for €32m for its European Retail Fund. The property is fully let to 14 tenants, who are signed to inflation linked leases. Anchor tenant is Coop, a supermarket. Peter Brostrom, director of Investment in the Nordic region, said that the area provided resilient […]
Cordea Savills has appointed Giuseppe Oriani as managing director of its Italian subsidiary based in Milan.
Property investment manager Cordea Savills has appointed Hélène Henning and Sofia Sandh to its Stockholm based Nordic investment team.
The Italian government is expected to invite bids from Italian asset management companies, or societa di gestione del risparmio (SGRs), to manage all or part of central, regional and local government assets, which are estimated to be worth EUR €55bn in total.
The UK-based Cording Group, a real estate asset management firm founded in 2009 by Peter Dove, Mark Millar and Simon Kitching, is to expand further across Europe, and has picked John Partridge, former executive chairman and founder of Cordea Savills, as its new executive chairman.
International property manager Cordea Savills has appointed Kiran Patel as chief investment officer with a global remit.