Deals

Internos includes UK and Dutch resi in €750m target

The London-based real estate investment management firm has tied its colors to the mast as it summarizes its headline investing targets for the year ahead.

-

London-based real estate investment management firm Internos Global Investors is plotting investments in the UK and Dutch residential sectors in 2015.

The firm, founded by sector veterans Andrew Thornton and Jos Short, has set a series of targets for 2015, including acquisitions in these markets, that would see it complete up to €750 million of investments in the year.

Internos did not divulge investment targets for the two markets in its announcement, but told PERE that it expected to deploy up to €250 million of equity in both strategies on behalf of UK and German pension funds.

Internos said it also expected to make further inroads into its familiar hunting grounds of European hotels, German retail and German care homes as well and to add other investments in mainstream European commercial property markets too.

Specifically, it said in the hotel sector it was aiming to make €225 million of investments during 2015 for a fund and a separate mandate. That would bring its investments in the sector to more than €700 million in value.

In the German care homes sector, it said it had €50 million of assets under offer for a fund for which it raised €80 million.

For German retail parks, it is planning to invest €100 million for Internos Novapierre Allemagne, a joint venture with Paref Gestion, a Paris-based investment management firm.

The firm said it was looking to build on a year when it invested €300 million for its various mandates and sold €900 million of assets, predominantly in Germany and the Netherlands.

Thornton said in the announcement: “A combination of strong capital flows into Europe and a focus on executing asset management initiatives enabled us to deliver the strategies agreed with our investors in 2014. We also activated several mandates investing in opportunities in specific sectors of the German market and southern Europe.”

“In 2015, we will continue to invest on behalf of our active funds, exploiting prevailing low interest rates to enhance income returns, while we explore opportunities for institutional investors in those European markets where we have strong conviction.”