Fundraising

Macquarie Global Property Advisors has become the latest private equity real estate firm to plunge into Poland’s residential sector amid rising wages and the growth in mortgage lending.

The Stockholm-based firm is launching a retail fund in the belief that rental growth from shops in Europe will be superior to offices.

Though details remain sketchy, the private equity firm will need to secure additional capital in order to fund the $3.2 billion equity check for Equity Office.

The US property investment management firm is stepping up its European activities with two new fund of fund launches as the product gains in popularity.

The US buyout firm is taking over Sam Zell’s US real estate investment trust Equity Office Properties Trust amid warnings that the collapse of the large buyout in all sectors of private equity is “inevitable”.

Hotel veteran William Reynolds will lead the company’s acquisition and development efforts.

Fresh from a post at GE Real Estate, Tom Wagner will join the real estate investment division of Cerberus as a managing director.

An infrastructure consortium including Credit Suisse and GE Infrastructure has paid a reported €750m to acquire London City Airport.

This is the second multi-family investment in the market for the Philadelphia-based investment manager.

Fast expanding Macquarie Global Property Advisors has sold a UK-focused business park for £640 million, more than double what it paid for the company four years earlier.