Valad becomes new investment manager of European Commercial Real Estate Ltd
Source: News Bites
Valad Property Group says its European business, Valad Europe plc, a pan-European multi-let specialist has been confirmed as the new investment manager of European Commercial Real Estate Ltd (ECRE).
The vehicle was formerly known as Kenmore Europe Ltd. ECRE's eu250 million ($A360 million) portfolio comprises 53 properties spread across the Nordic region, Germany and the Netherlands.
Valad has secured a five-year mandate to provide investment management services for the mixed commercial portfolio. Base fees are in line with current mandates and include performance fees for value creation.
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