June 14, 2019
We are delighted to announce the shortlisting’s for 3 awards across the Palmer Capital network for the EG Awards 2019.
Palmer Capital are one of the finalists for the London Deal of the Year category for the sale of part of the business to Canadian investment management firm, Fiera Properties. In March 2019, Palmer Capital were delighted to announce that Fiera Properties acquired an 80% shareholding stake in Palmer Capital which marks a marriage between two like-minded, successful real estate asset management firms, who together will pool their expertise and knowledge to expand globally, increase and diversify their offering to investors, and seek to use the opportunities that will arise from a post Brexit environment to create value.
Cubex Land have been shortlisted for Regional Deal of the Year with the sale of the Aurora office building in Bristol for £62.13m. Aurora is a BREEAM Outstanding development, which was committed to be speculatively built with funding through Palmer Capital Development Fund IV, a programmatic venture managed by Palmer Capital that is exclusive to clients of CBRE Global Investment Partners (‘CBRE GIP’). It was funded with financial skill and expertise and sold in September 2018, delivering a 2.3x EqM geared, after achieving 85% pre-letting during construction.
Also shortlisted for the Regional Deal of the Year Award are Manse Opus for their pre-let to Meggitt at their site Prospero Ansty. In Spring 2018, Manse Opus in their joint venture with Rolls-Royce secured planning consent for a 490,000 sq ft new headquarters building for Meggitt PLC, which is the first pre-let on the 2.3 million sq ft advanced manufacturing, research and office development site. The deal will be one of the UK’s largest industrial lettings for many years, and is confirmation of the manufacturing industry’s strength at a time of great political uncertainty.
These shortlistings are demonstrative of just some of the great work happening across the Palmer Capital network throughout 2019 and in the pipeline for the future, and we look forward to the results night on 22nd October.
Congratulations to all who were shortlisted for this year’s EG Awards!