European Retail Property Investment Rises 72% in Third Quarter
Investment in European retail property jumped 72 percent in the third quarter, led by deals in Germany, Poland and the U.K., said Jones Lang LaSalle Inc., the world’s second-largest real estate adviser.
Spending on shopping malls, retail parks and supermarkets increased to 5 billion euros ($6.9 billion) from 2.9 billion euros a year earlier, Jones Lang said in an e-mailed statement today. Investment matched the previous three months.
Acquisitions in the first three quarters reached 15.2 billion euros, almost double the 7.8 billion euros recorded in the same period of 2009.
Investment in the U.K., Germany and Poland accounted for 80 percent of the total. The spending in Britain was boosted by a 1.15 billion-euro sale and leaseback transaction by Tesco Plc, the country’s largest retailer. Other acquisitions in the U.K. totaled about 1.4 billion euros, the same as in each of the previous two quarters, Jones Lang said.
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