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U.S. investors flood into European real estate in 2014

by Andrea Waitrovich

U.S. acquisitions of European commercial real estate jumped from €9 billion ($9.97 billion) in 2011 to €38 billion ($42 billion) during 2014, according to CBRE, representing 17 percent of the €224 billion ($246 billion) total European commercial real estate investment activity — which has nearly doubled since 2011 (€120 billion/$132 billion).

Commercial real estate investment from Asia and the Middle East has focused on core properties in liquid markets, while U.S. investment has varied more widely in location and asset type.

Non-U.S. investment in Europe has mostly been direct acquisition by institutions, while most U.S. investment is made by commingled investment vehicles through fund managers.

U.S. investors have found success — and have played an important role — buying into recovering European markets early on in their recoveries, according to CBRE.

There are some signs that the nature of U.S. inves

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