Europe

TH Real Estate’s Mike Sales on new €3bn fund and Crystal Palace success

MIPIM 2016: Mike Sales, TH Real Estate’s co-global head, was in buoyant mood at MIPIM, boosted by the launch of its new European cities fund as well as the recent performances of his beloved Crystal Palace football club.

Earlier this week the fund manager launched the €3-€5bn (£2.3-£3.5bn) vehicle with €200m of co-investment from TH RE’s parent company TIAA, and it is expected to secure major new commitments in the near future.

“It is all about investing where we see long-term structural growth and the mega trends that make great cities and what will make cities great going forward. Whilst we are property players and there are short-term cycles, we believe investing over the long term in these cities will deliver outperformance,” he said.

Crystal Palace have clinched a date at Wembley, having reached the semi-finals of the FA Cup following their 0-2 win over Reading at the weekend, but fanatical Sales is attempting to keep a level head.  

“We’re taking every game as it comes, delighted to be at Wembley and of course I will be there, but what I really want is for us to cement our league position.”

Other News

Greater London’s planning application hotspots

EG has picked out the top eight London postcodes that have seen increases in planning applications. The hotspots, located mainly across outer London, averaged just three… Read more »

E Europe

Blockade means uncertainty for future of Qatari investment

There can be absolutely no doubt about the extent of Qatar’s heavy investment abroad in recent years. Since 2004 the gas-rich Gulf state has invested… Read more »

E Europe

UK owners still dominate London office ownership

Cash from around the world has poured into the capital’s business districts in recent years, but domestic owners still rule the roost. Looking at office… Read more »

E Europe