MARK Capital Management

MARK Capital Management CEO Marcus Meijer was on CNBC Squawk Box Europe this morning to discuss how the European Central Bank's rate cut could prove a "catalyst" for real estate. Key takeaways: 📉 "Downward path" for interest rates will open up liquidity in European markets, with the US Federal Reserve also expected to announce a cut this month 📊 Yields "for the right product in the right place" have bottomed out and, in some locations, already started to come in 🌆 Creating a product that "people are really attracted to and is unique" is the best way to "secure your downside" for a project like The Whiteley London 🏭 Our "biggest conviction" right now is urban logistics, which has favourable demand-supply dynamics and faces less political and regulatory headwinds compared to other sectors

Forbes has profiled Steen & Strøm, the world's oldest continuously running department store, which has just celebrated its strongest ever H1 figures. Kevin Rozario notes how tax-free shopping, a trend of 'coolcationing' and investment from MARK Capital Management into the store and the wider area through our Promenaden platform had all contributed to record sales. Our investment has led to the opening of a new tech hall, as well as the addition of many of the world's leading luxury brands. David Wilkinson of Promenaden commented: “We are working hard to capture this heightened interest in Oslo as a shopping and travel destination by investing significantly. We’ve found that retail shoppers are increasingly attracted to experiences, and the Tech Hall, with events program and working and meeting areas, are designed to encourage community engagement.” Read the full piece here: https://lnkd.in/eyq8-JWZ

#ICYMI We took a closer look at one of our flagship schemes in our historic urban mixed-use value-add strategy, 60 Dawson Street and Grafton Place.

There’s more evidence of logistics being an asset class well-poised to benefit from current market conditions in European commercial real estate. This is a particularly attractive opportunity for managers with a pan-European presence, that are well-capitalised, and have experience in assembling portfolios at different points in market cycles - such as Crossbay. Consecutive falls in overall commercial property values are expected to soon turn a corner, as the second quarter of 2024 recorded the smallest drop in values since mid-2022. New data from Altus Group shows that values fell by just 0.06% from Q1 2024, an indication that a downtrend in values observable since Q3 2024 is ending. The industrials sector recorded the highest value growth at 0.5% over the quarter, driven in large part by above average improvement in market rents at 1.4%. This growth was observable across most European countries. This positive sentiment towards European real estate has been echoed in other recent reports from the likes of Savills, CBRE and JLL. Read in Green Street News: Europe below.

Our CEO Marcus Meijer was invited by PERE to share his thoughts on what the US Presidential election would mean for private real estate. In his commentary, he said: "If there is a Trump victory, all eyes in Europe will be on what he does regarding the Ukraine conflict. There's an argument that a negotiated end to the conflict could provide near-term stability and boost investor confidence but that is not guaranteed - it depends on the shape of the deal. "I think regardless of who wins, the process of deglobalisation will continue, and that will drive the reshaping of supply chains and in turn occupier demand for logistics space, which will feed into investor interest. This is especially true for Europe, which is arguably the most globalised region and in greatest need of near-shoring manufacturing capabilities." Through our pan-European urban logistics platform Crossbay, we are investing in the last-mile segment, targeting single-user distribution centres in gateway cities. Read the full article by Harrison Connery:

Queensway, London, could be about to "knock Notting Hill off its perch", argues The Evening Standard, crediting MARK's regeneration of the area as being essential to this. They cite the transformative role of "landmark developments", namely The Whiteley London - which includes the UK's first Six Senses Hotel, luxury residential apartments, and commercial and leisure offerings including 19 already-committed brands. Our £1bn regeneration of The Whiteley is being delivered through a joint venture with CC Land as part of the wider regeneration of Queensway parade, where we are a key partner. The Queensway regeneration will see the arrival of Parisian-style street pavilions, a new public entrance to the adjacent Hyde Park, the part-pedestrianisation of roads, new and renovated restaurant, retail, leisure and office buildings, and much more. Read the full article below.

Positive news on the health of real estate markets continues to flow, with new research from JLL suggesting there are signs of a global recovery. The consultancy’s most recent survey revealed an improvement in sentiment, with just half half (48%) of respondents anticipating conditions will get better over the next six months. "There are signs of strengthening demand and more balanced fundamentals as we look out to the rest of the year," according to JLL's global property sectors research director Matthew McAuley. JLL's new research follows analysis from CBRE, Cushman & Wakefield and Savills that suggest a recovery is underway in European real estate investment activity. Read more in EG: https://lnkd.in/g3_Xr3Qh

A flagship asset within MARK's historic urban mixed-use value-add strategy, 60 Dawson Street and Grafton Place is our pioneering office, retail and leisure scheme in the heart of Dublin.

Further evidence of a recovery being underway in European real estate has been published, with values rising across all sectors according for a second consecutive quarter according to new research from Cushman & Wakefield. This follows positive data on investment activity in H1 this year from both CBRE and Savills. Cushman & Wakefield (C&W) also recorded six consecutive quarters in which rents have risen on a quarterly basis. On an annual basis, logistics continues to lead the charge with rental growth of 5.6%. This aligns with what our urban logistics platform Crossbay, which manages last-mile assets in gateway cities across Europe, is seeing on the ground, with a lack of appropriate supply and increased competition between occupiers for well located space driving rental growth. Read the full write-up of C&W research in Green Street News: Europe:

New research signposts a recovery is underway in European real estate. After Savills revealed an increase in investment activity in Q2, CBRE's latest analysis highlights investment volumes in the first half of the year increased by 10% across Europe. The company says total investment into European real estate in H1 2024 stood at €86.5bn (£72.9bn) - a 10% increase on the equivalent period last year. There was also a 16% increase in Q2 investment levels to €45.5bn compared with the same period in 2023. CBRE European capital markets managing director Chris Brett said: “The resurgence in activity has been driven by a stabilisation of asset prices, with prime yields across all major sectors remaining flat since March. As the market continues to recover, buyers and sellers will start to become more comfortable with pricing, which will further support the more positive market dynamics we are starting to see.” Fuller details of the research are in EG: