Merle Crichton
The acquisition would have been the biggest sale of UK retail parks in a decade.
The €150m separate account awarded to manager AEW kicked off last week in Paris with the purchase of a 37,000-square-foot office for €50m.
After a lofty point in the investment cycle saw the definition of prime real estate become flexible, investors are now unwilling to tolerate extra risk without additional rewards.
The pandemic will make it difficult to invest capital during the first half of the year but declines in asset pricing are expected to help deal volumes rebound in H2 2020.
A measure to allow some borrowers to request forbearance from special servicers could hinder new loan originations, said a Real Capital Analytics executive.
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