The sale of Globen City is the largest transaction so far this year, so it is clearly prestigious for us to have completed the sale with a good outcome.
This project is a perfect example of when local expertise and international investment interest in Dusseldorf come together.
We are proud to be able to present a transaction volume of this magnitude and therefore consolidate our position in Europe.
A majority of both lenders and borrowers polled indicate an easier lending environment in the current and near term. This is reflected in the mix of real estate transactions in the first half of the year that saw geared investors taking a bigger share of total acquisitions.
We believe the trend of alternative sourcing of financing to continue and bond issues with security in underlying properties to capture a larger share of the total real estate related bond market.
The sale of Webhallen is a transaction of which we are proud of; particularly since we believe that in all likelihood it will be one of the more strategically important transactions from an e-commerce perspective in the Nordic region in 2013. Komplett being one of the biggest e-commerce players in the Nordics, Webhallen being one of the fastest growing. In addition, we appreciate the fact that Dixons Retail, which is based in the UK, entrusted us with the management of this important project for them in the Nordic region.
We perceive that it is precisely online companies and retail companies within clear niches which will dominate the Nordic M&As market in 2013. It is within this area that Catella's strength lies as an adviser and we are extremely pleased to be able to present this deal.
I’m pleased that Catella has advised in another prime real estate transaction on the Baltic market. It’s just few months since Catella advised Ektornet in the sale of its commercial real estate portfolio in Estonia, and similar substantial projects are underway.
The Coca Cola Plaza transaction indicates that investors are continually interested to invest in the Estonian real estate market and prefer well located properties with good tenant covenant.