London, England, 28 June 2019 – Cain International, the privately held real estate investment firm operating in Europe and the United States, has significantly increased its European presence with a series of investments with a total estimated exit value of approximately €1bn.
Over the last 12 months, the company has been working closely with local partners to identify value-add and opportunistic investments that can deliver investor-aligned returns through repositioning or development. Focusing on underprovided sectors and growth markets, it has signed six deals across six gateway cities with four partners, establishing a diverse portfolio spanning, office, logistics, residential and mixed-use, in Ireland, Spain, and Central Eastern Europe. Investments include:
- The development of a 15,000 sqm office project in the 22@ district of Barcelona, Spain
- The development of a 67,000 sqm logistics asset in Southern Madrid, Spain
- The repositioning of an 18,000 sqm mixed-use office and residential scheme in Warsaw, Poland
- The development of 120 apartments in Budapest, Hungary
- The development of an office complex in excess of 50,000 sqm Krakow, Poland
These investments bolster Cain International’s previously announced European investments outside the UK, which include a 50/50 joint venture with Kennedy Wilson to develop c. 35,000 sqm of Grade A office accommodation in Dublin’s North Docks.
In the UK, Cain International is currently undertaking two large mixed-use developments: The Stage in Shoreditch and Islington Square.
Cain International’s growing UK and European equity investment team is led by Richard Pilkington. He is supported by Daniel Harris, who joined Cain International from Tristan Capital Partners, as Head of European Investments, and Liam Le Roux, previously with Blackrock, as the firm’s Head of European Asset Management.
Richard Pilkington, Head of European Equity at Cain International, said:
“Having made a number of investments in the UK and US, we identified an opportunity to grow our business across Europe in 2017 and set about building a strong and experienced team to achieve that goal. We have successfully sourced and executed some great deals and are now focused on delivering them based on comprehensive business plans and close relationships with our partners. With additional deals in the pipeline, we look forward to further growing our European portfolio and maximising our investments through the team’s experience, contacts and creativity.”
Daniel Harris, Head of European Investments at Cain International, said:
“We have built an attractive asset portfolio across Europe in a short period of time, illustrating our ability to work with local partners as well as swiftly close transactions where we have identified opportunities to drive value. We continue to see significant opportunities in gateway cities across Europe, where there is underlying growth potential in our chosen investment sectors and a clear imbalance in terms of supply and demand. We are already fielding strong leasing interest in our office investment in Barcelona and our mixed-use scheme in Warsaw, for example. Building on our success to date, and with current pipeline and a positive outlook for Europe, we expect to significantly increase the size of our portfolio in the coming year.”