Nicol Dynes, Dan Innes, Paul Strohm and Richard Betts
In the spotlight this week:
Stockholm-based EQT, which has already spent billions this year, has announced a €300 million joint venture with Italian company Arco which will develop nursing homes in northern Italy.
Cain International’s Daniel Harris says that the future-of-the-office debate has missed the point: the future of cities will be determined more by retail and people have a shock is in store when they return to work as so many shops have now closed. Meanwhile, the Nationwide Building Society’s 13,000 office staff have been given options on where to work, meaning a likely reduction in space. Also, Santander Bank announced closure of 111 high street branches across the UK.
However, in Birmingham, Cervidae secured funding to combine three buildings to provide new flexible office space, a sector in resurgence. In other positive news, Starbucks’ UK franchise partner wants to open 220 new sites while US takeaway chicken chain Popeye’s plans to open its first UK restaurant in 2021 followed by a further 350 in 10 years. And a new report from JLL and Union Investment puts figures on the heightened investment interest in European grocery real estate as a result of the pandemic.
In recent REALX.Global sessions, Angelo Gordon’s head of Europe real estate explained why there’s not yet been a higher incidence of distressed loans in the market and Scott Cations of Altus Group predicted that proptech will catch up with fintech in terms of size.
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