Direct real estate investment reached 2,450 million in the first quarter
The real estate investment direct reached a volume of 2,450 million euros in the first quarter of the year. A figure that is in line with that registered in the last quarter of 2017. These are data that emerge from the report prepared by the research area of BNP Parbas Real Estate.
This volume, according to the company, allows the dynamism of demand to continue in the coming quarters . Likewise, it also ensures that investment funds are establishing themselves as the main buyers of real estate, displacing the socimis. «They are still immersed in the asset management process. And they are preparing to release part of their portfolios ».
The most demanded assets
From January to March, the distribution of investment remained in the trend of last year . At the head, as the most demanded assets, were retail. Where he highlighted the sale of a portfolio of 14 Inditex stores for 370 million euros to the German fund Deka, for the sale of the Parque Corredor for another 200 million. And by that of the Las Habaneras Shopping Center for another 160 million.
According to BNP Paribas Real Estate, another of the highlights of the first quarter has been the purchase of a portfolio of 1,500 homes by Testa from Caixabank. For an amount of 228 million euros , thus reinforcing its residential portfolio.
Behind retail, the office and hotel segments have been located. With an approximate volume of 350 million euros invested in each segment.
2018, after the revaluations of real estate assets, began with the symptoms that the upward cycle of capital values is increasingly less traveled by the way of adjusting returns.
Thus, investors now expect returns to come from sales and focus their efforts on asset management. Specifically, BNP Paribas Real Estate considers that asset management will go through making properties more efficient or carrying out reforms.
The 'yields prime' in offices (3.25%), retail (5.85%) and logistics warehouses (2.8%) were at the end of the first quarter in line with the lost items fire emblem for the last quarter of 2017 .
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