Harbert: 2009 best year ever in Europe

The US alternatives firm has returned to investment mode after a ‘disciplined’ 2007 and 2008

Alabama-based alternatives firm Harbert Management Corporation enjoyed one of its best years ever in Europe in 2009, according to senior managing director, Scott O’Donnell.
Speaking in the February issue of PERE, O’Donnell said the company  – which began investing in the region in the 1990s –  remained “disciplined” throughout 2007 and 2008, but returned to making investments in the UK and France last year.
Among the deals was the £103 million (€72 million; $167 million) acquisition of four industrial properties from UK REIT, Segro, and the purchase of 11 modern offices in Lyon, France.
“2009 was probably the best year ever from a real estate perspective,” said O’Donnell. The full interview will be published next week.