Bond Street ∙ Regent Street ∙ Oxford Street ∙ Sloane Street ∙ MaximilianstraS
Kurfürstendamm ∙ FriedrichstraSSe ∙ Neuer Wall ∙ Canton Road ∙ Queens Road
tral ∙ Causeway Bay ∙ Orchard Road ∙ Fifth Avenue ∙ Rodeo Drive ∙ Newbury Str
∙ Ometesando ∙ Avenue des Champs Elysées ∙ Rue de Faubourg Saint Honoré ∙ Vi
Montenapoleone ∙ Corso Vittorio Emanuele ∙ Bond Street ∙ Regent Street ∙ Ox
Street ∙ Sloane Street ∙ MaximilianstraSSe ∙ Kurfürstendamm ∙ FriedrichstraS
Neuer Wall ∙ Canton Road ∙ Queens Road Central ∙ Causeway Bay ∙ Orchard Roa
Fifth Avenue ∙ Rodeo Drive ∙ Newbury Street ∙ Ometesando ∙ Avenue des Champs
sées ∙ Rue de Faubourg Saint Honoré ∙ Via Montenapoleone ∙ Corso Vittorio Em
nuele ∙ Bond Street ∙ Regent Street ∙ Oxford Street ∙ Sloane Street ∙ Maximilia
straSSe ∙ Kurfürstendamm ∙ FriedrichstraSSe ∙ Neuer Wall ∙ Canton Road ∙ Que
Road Central ∙ Causeway Bay ∙ Orchard Road ∙ Fifth Avenue ∙ Rodeo Drive ∙ Newb
Street ∙ Ometesando ∙ Avenue des Champs Elysées ∙ Rue de Faubourg Saint Hon
∙ Via Montenapoleone ∙ Corso Vittorio Emanuele ∙ Bond Street ∙ Regent Street
Oxford Street ∙ Sloane Street ∙ MaximilianstraSSe ∙ Kurfürstendamm ∙ Friedri
straSSe ∙ Neuer Wall ∙ Canton Road ∙ Queens Road Central ∙ Causeway Bay ∙ Orchard Road ∙ Fifth Avenue ∙ Rodeo Drive ∙ Newbury Street ∙ Ometesando ∙ Avenu
des Champs Elysées ∙ Rue de Faubourg Saint Honoré ∙ Via Montenapoleone ∙ Co
Vittorio Emanuele ∙ Bond Street ∙ Regent Street ∙ Oxford Street ∙ Sloane Stre
ENTER
∙ MaximilianstraSSe ∙ Kurfürstendamm
∙ FriedrichstraSSe ∙ Neuer Wall ∙ Canto
Road ∙ Queens Road Central ∙ Causeway Bay ∙ Orchard Road ∙ Fifth Avenue ∙ Rod
Drive ∙ Newbury Street ∙ Ometesando ∙ Avenue des Champs Elysées ∙ Rue de Fau
bourg Saint Honoré ∙ Via Montenapoleone ∙ Corso Vittorio Emanuele ∙ Bond St
∙ Regent Street ∙ Oxford Street ∙ Sloane Street ∙ MaximilianstraSSe ∙ Kurfürst
amm ∙ FriedrichstraSSe ∙ Neuer Wall ∙ Canton Road ∙ Queens Road Central ∙ Cau
way Bay ∙ Orchard Road ∙ Fifth Avenue ∙ Rodeo Drive ∙ Newbury Street ∙ Ometes
∙ Avenue des Champs Elysées ∙ Rue de Faubourg Saint Honoré ∙ Via Montenapol
∙ Corso Vittorio Emanuele ∙ Bond Street ∙ Regent Street ∙ Oxford Street ∙ Sloa
Street ∙ MaximilianstraSSe ∙ Kurfürstendamm ∙ FriedrichstraSSe ∙ Neuer Wall
ton Road ∙ Queens Road Central ∙ Causeway Bay ∙ Orchard Road ∙ Fifth Avenue
deo Drive ∙ Newbury Street ∙ Ometesando ∙ Avenue des Champs Elysées ∙ Rue de
bourg Saint Honoré ∙ Via Montenapoleone ∙ Corso Vittorio Emanuele ∙ Bond St
∙ Regent
Street ∙ Oxford Street ∙ Sloane Street ∙ MaximilianstraSSe ∙ Kurfürst
A
amm ∙ FriedrichstraSSe ∙ Neuer Wall ∙ Canton Road ∙ Queens Road Central ∙ Cau
PRIME RETAIL
HOME
ESSENTIAL ADVICE
FOR LUXURY RETAIL
MILAN
A
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NEW YORK
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LONDON
|
PARIS
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PRIME RETAIL
TRANSACTIONS
|
CONTACTS
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PROFESSIONAL PROFILES
www.cbre.eu/primeretail
Essential advice for luxury retail
London’s Bond Street; Fifth Avenue; The Champs Elysées; Tokyo’s Ometesando;
the Via Montenapoleone in Milan: names that evoke luxury and stability.
These are locations set apart from the wider
world of retail; homes to the world’s most
sought after luxury brands and harbours
against stormy property markets: real estate
with an appeal to investors and retail brands
throughout economic cycles.
Our people in London, New York, Paris, Milan
and the other major cities know their prime
retail streets and districts inside out. From
buildings to owners, investors and occupying
brands, their knowledge is unsurpassed. Their
ability to share that knowledge to the benefit
of clients right around the world is unmatched.
But they are a scarce resource, owned,
occupied and invested in by a relatively small If you’re interested in prime retail assets
and sometimes closed group.
around the world – their sale or acquisition –
please contact our team.
However, for investors or retailers looking to
John Welham
gain exposure to these locations there are
Head of European Retail Investment
always opportunities. Providing, that is, you
t: +44 20 7182 2755
know precisely what’s happening on the
e: [email protected]
ground, around the world, all the time.
This is no small proviso – but we meet it for
our clients.
A
www.cbre.eu/primeretail
WHO
NEWARE
YORK
WE
In New York, local knowledge gets
better results.
Geography, architecture, regulatory
environment and ownership structures
combine to make the New York market
different to any other in the US or beyond.
Bill Shanahan leads our Prime Retail
Transaction Group in New York. He
has more than 30 years’ experience in
Manhattan real estate. Bill and his team
understand the nuances of this particular
corner of the market better than anyone;
they add more value, in more ways to retail
property transactions than any other agent
can.
A
Vertically orientated
Manhattan is vertical.
Vertical defines how the city lives, works and shops.
Our buildings are a patchwork of
ownership and use, a world away from
the great standalone retail buildings you
find in London and Paris – or the relatively
straightforward ownership that goes with
them.
Bill and his team understand this vertical
landscape perfectly, from the detail of
ownership and how best to extract value
from a building, to the bigger picture – what
defines New York’s prime retail areas and
why each has its particular value.
So why does local knowledge
get better results?
The depth of local knowledge that Bill and
his team have built up over the years enables
them not only to understand the true value
of retail real estate, but also to identify the
ideal buyer and communicate the true worth
of a property to them.
That’s why they get better results for their
clients.
Taking local knowledge global
The wider your audience of buyers, the better
the result you achieve. CBRE’s Prime Retail
Transaction Group in New York is part of a
tight-knit global team with offices in London,
Paris and Milan. For you, this means access
to buyers around the world – and a higher
demand for your asset.
666 FIFTH Avenue – New York
Bill Shanahan and his team acted for
Carlyle Group, Crown Acquisitions, and
Kushner Co in their sale of the retail
condominium at 666 Fifth Avenue at
record pricing.
The address is home to Hollister, Swatch
and Uniqlo.
A quiet marketing campaign attracted
strong interest from the US and
beyond. The sale of this landmark retail
condominium to Vornado Realty Trust
raised $707 million.
William Shanahan
Vice Chairman
t: +1 212 984 6656
e: [email protected]
www.cbre.eu/primeretail
LONDON
If you’re an investor or looking to
invest in prime London retail property,
CBRE’s team gives you access to the
most valuable intelligence and the best
connections worldwide.
Connecting you to the best
buyers worldwide
Whilst demand is strong for London’s prime
retail property, there is a relatively small pool
of buyers able to bid with confidence.
Early in 2012, Phil Cann met with a group
of investors. He named ten prime central
London retail properties he believed would
change hands in the coming months.
Phil and his team have better access to
this group of family offices, Middle Eastern
investors and cash rich funds than any other
London agent.
All ten of them did.
Working with our London team – who
are connected in turn to our Prime Retail
Transaction Groups around the world – you
can be confident not only
of attracting the world’s best buyers, but also
of securing the best possible price.
Phil and his team acted as agents in eight of
the ten transactions, getting excellent results
for his clients and giving buyers access to the
security and prestige that London’s handful
of exclusive retail streets offer.
Gain access to a scarce resource
If you’re seeking an investment foothold
on Regent Street, to provide a legacy for
your future generations on Bond Street, or
to make an impact in Knightsbridge, Phil’s
team has the experience and the connections
you need in the London market.
Retail property in the best locations rarely
comes to market but opportunities do arise
and CBRE’s London Prime Retail Transaction
Group knows about them – often before
anybody else.
Phil Cann
Executive Director
t: +44 20 7182 2265
e: [email protected]
Lumina building,
Oxford Street – London
Group investment fund Deka, wanted
to exploit strong demand for fully let
retail properties in prime central London
locations.
Our London Prime Retail Transaction
Group advised them on the sale of their
Lumina building on the corner of Oxford
Street and Bond Street in London’s West
End.
We drew a group of six viable
investors to the table, finally selling
for £155 million.
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www.cbre.eu/primeretail
PARIS
In Paris we achieve more for our
clients by doing things better than
our competition – from valuation and
marketing to client service.
Just three streets make up the majority
of Paris’s prime retail real estate: Rue du
Fauborg St Honoré, the Champs Elysée and
Avenue Montaigne.
We help sellers to maximise the value of
their retail assets in these prime locations,
using our experience and skills to make the
most of today’s market.
More accurate valuations
An accurate market assessment is the
beginning of every successful transaction.
Knowledge of tenant demand, the latest
rental evidence and investor appetite are
all essential. Set the price too high and you
discourage potential buyers – too low and
the risk is obvious.
We have access to more accurate data than
our competitors meaning our valuations are
precisely in tune with the market in Paris and
around the world.
The right price attracts the right buyers.
The best marketing material
Paris’s prime retail property is home to
many of the world’s great luxury brands.
We attract the best buyers and achieve
more for our clients because we understand
luxury retail. Nicolas has significant
experience in this sector and has an
impressive track record
of transacling prime retail assets.
More reassuring, more discrete
Demand for the best retail property in Paris
is strong but buyers – frequently private
investors and family offices – are often new
to the market. We understand their concerns
and have the experience to
guide them through a transaction, operating
with the required sensitivity and discretion.
That means more transactions reach
successful conclusions and our clients get
better results.
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Nicolas Verdillon
Head of French Capital Markets
t: +33 1 53 64 30 81
e: [email protected]
14 rue Halevy – Paris
Facing the famous Galeries Lafayette
department store and adjacent to the
Apple Store, 14 Rue Halevy is the
quintessential Parisian retail property.
We acted as agents for the seller,
securing our client €21m for their asset.
It became the first major Paris retail
acquisition for Ponte Gadea, owners of
Zara.
Nicolas and his team guided the
transaction to a successful conclusion.
www.cbre.eu/primeretail
MILAN
In Italy, a country with more than its
fair share of world-class shopping,
Milan stands out.
Its prime retail area, known locally as
‘Quadrilatero d’Oro’ encompasses Via
Bagutta, Via Montenapoleone, Via
Sant’Andrea and Via della Spiga.
Emporio Armani, Gucci, Prada, Cartier,
Tiffany and a host of other luxury brands all
have stores there.
On Via Montenapoleone alone there are 94
luxury stores.
Past and present
Milan has a long, proud history of luxury
craftsmanship, but it’s also a progressive
city with an affluent catchment of more than
three million people.
The redevelopment of Largo Corsia Dei
Servi in 2011 saw new megastores open
– Mango, Gap and Banana Republic all
opened their first Italian stores here.
The increased demand from international
occupiers is demonstrated by Abercrombie
and Fitch recently opening on Corso
Matteotti, a traditionally non-prime retail
location. The store’s popularity has attracted
Versace to the street, an unprecedented
move for a luxury retailer.
The future is bright too
Milan will not rest on its laurels. Investors and
owners of the city’s prime retail properties can
look forward to years of progress.
EXPO 2015 will be a further boost to
Milan’s fortunes over the next few years.
There are plans to ‘re-brand’ the city centre,
transforming it into a leisure and tourist
destination to rival any in Europe.
Our team in Milan
Headed up by Paolo Bellacosa, our Prime
Retail Transaction Group in Milan has the
contacts and insight to help you gain a
foothold in this key retail destination.
Paolo Bellacosa
Executive Director
t: +39 02 303 777 55
e: [email protected]
Piazza San Babila, Milan
Statuto group approached our Milanese
team to sell their prime asset on one
of Milan’s most important piazzas. The
asset, Diesel’s flagship store, received
strong interest from investors, resulting in
CBRE securing a sale to Red Circle – the
holding company owned by the Diesel
fashion brand’s original founder.
Stores like Abercrombie and Fitch, catering
for a younger audience, have made the
centre of Milan attractive to people with
mid-level buying power and have buoyed the
prime retail market.
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www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
Jaeger House, 200-206 Regent Street, London
• As retained agent to the Crown Estate,
CBRE identified Jaeger House as a key
strategic acquisition for its freeholder, the
Crown, being one of the large flagship
stores on the street in a key corner
location.
• Jaeger House is an attractive grade II
listed flagship retail and office property
characterised by its original Portland
stone facade.
• Regent Street was a retail pitch well
known to CBRE, which had been involved
in the £450m sale of a 25% stake in the
street for the Crown Estate in 2011.
• Jaeger House was particularly well
known to CBRE, which had previously
sold the property in 2010.
• An outstanding rent review was required
to be applied prior to completion,
involving back payments and overage
payments which demanded agile
negotiation by CBRE.
• The property was bought for
£50,000,000, representing a net initial
yield of 4.81%.
Nature of Instruction:
Acquisition
Client:
The Crown Estate
Size:
4,500 sq m
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www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
Maximilianhöfe, Munich
Nature of
Instruction:
Disposal
Client:
Avestus Capital Partners
Size:
19,967 sq m
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• In November 2011 CBRE was exclusively
instructed to sell Maximilianhöfe,
a prime retail-led asset located on
Maximilianstrasse, Munich’s most
exclusive street of luxury retailers and
corporate occupiers.
• Offering eight prime retail units, let to
luxury brands including Bally, Chopard,
Moncler, Dolce and Gabbana and
Versace, the property boasts around 75
metres of frontage onto one of Europe’s
premier shopping streets. In addition
to this the property hosts in excess of
13,000 sq m of prime office space, let to
various prestigious occupiers.
• The quality of the asset led CBRE to
conduct a bespoke marketing
campaign, targeting three highly
qualified investors, who had experience
and track record in transacting similar
assets.
• Our marketing strategy created a highly
competitive bidding process which
resulted in the final sale price exceeding
our client’s expectations. Pembroke Real Estate successfully acquired the
asset in Q2 2012 for approximately
€270 million.
www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
54-60 Rue de Faubourg Saint-Honoré, Paris
CBRE were instructed by Hammerson to
dispose of their ultra-prime parade of eight
luxury retail units on one of Paris’ most
prestigious shopping streets. Understanding
that the asset would appeal to a wide range
of investors including French institutions,
middle eastern sovereign wealth funds, North
American family dynasties and retail groups,
CBRE’s Prime Retail Transaction Group
carried out a targeted marketing campaign,
approaching a limited number of
appropriate and capable investors.
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Through selling the asset’s inherent longterm value and income growth potential,
CBRE were able to create a fiercely
competitive bidding environment amongst a
varied group of investors, allowing our client
to secure the best price for the asset.
Nature of Instruction:
Disposal
Client:
Hammerson Plc
Size:
8,228 sq m
www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
Lumina House, 333 Oxford Street, London
• As retained property advisors to DEKA,
CBRE Capital Markets Team were
instructed to sell their trophy asset offmarket with the upmost confidentiality.
• Lumina House is a 75,349 sq ft flagship
retail and office building on Oxford
Street, the UK’s longest and Europe’s
busiest high-street. This is arguably one
of London’s best located flagship stores
being situated on the corner of Oxford
Street and New Bond Street in the heart
of the West End.
Nature of Instruction:
Disposal
Client:
Deka
Size:
7,000 sq m
• CBRE’s in depth knowledge not only
of the most active purchasers and how
they like to transact was key to securing
an impressive premium and maximising
proceeds.
• Thanks to its off-market strategy, CBRE
managed the transaction swiftly, which
was carried out with minimum risk in
under 6 weeks.
• This transaction illustrated the high
premiums that are paid for off market
acquisitions by private investors and retail
dynasties who dislike entering into best
bid scenarios.
• The property was sold for £155,000,000,
representing a net initial yield of 3.9%.
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www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
GALERIE LAFAYETTE, Friedrichstrasse, Berlin, Germany
OUTCOME
Despite the highly complex asset, the CBRE
team was able to identify and quantify the
value-add potential and provide the buyer,
with an opinion of the current and future
value of the property. This gave the client
suffient comfort to acquire the asset.
The transaction completed in March 2012.
BRIEF
In January 2011 CBRE was exclusively
instructed by Allianz Real Estate Germany
(ARE) to provide commercial buy-side
advisory services for the acquisition of the
Galerie Lafayette (Quartier 207) in Berlin.
Galerie Lafayette is a prime retail-led asset
located on Berlin’s high-end Friedrichstrasse.
With its modern architecture and prime
position, the property is one of Berlin’s
landmark buildings. The asset comprises a
lettable area of approximately 34,864 sq m,
including 15,482 sq m of retail space let to
French department store Galeries Lafayette.
VALUE CREATION
Although Galerie Lafayette is one of most
prestigious properties in Berlin, it is a
challenging asset in terms of its office leasing
profile and asset management requirements.
The property had 4,783 sq m of vacant
office space and several lease contracts soon
to expire. In addition to this, Friedrichstrasse
will be affected by subway construction works
over the coming years.
CBRE provided in-depth research to
determine the value-add and risk potential
of the asset. The scope of work included a
SWOT analysis, a risk reporting of anchor
tenants, a land title register analysis and real
estate market research.
A
Nature of Instruction:
Acquisition advisory
CLIENTS:
Allianz Real Estate Germany
Size:
35,000 sq m
www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
666 Fifth Avenue,
New York
BRIEF
• CBRE were instructed to dispose of the
retail condominium unit at 666 Fifth
Avenue, New York. One of the major
concerns was the record asking price per
square foot. Only 13,847 square feet
were located on the ground floor, thus
compounding the price per square foot
issue. The short term leasehold structure
for the 3rd floor created concerns about
the flexibility of the space for future
tenants. The cap rate of 4.5% reflected
the long term leases with the first expiry in
2022.
Nature of Instruction:
Disposal
Client:
Carlyle, Crown Acquisitions,
Kushner Companies
Size:
Freehold
Leasehold
38,614 sq ft
15,920 sq ft
54,534 sq ft
Solution
• CBRE matched tourism statistics and
sales growth with supply constraints
to convince the buyer of the dramatic
growth in future retail rents and value
along Fifth Avenue.
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www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
14-16 rue Halevy,
PARIS
Jubilee house and
west end house, London
PIAZZA SAN BABILA,
MILAN
Date:
Q3 2011
Date:
Q2 2011
Date:
Q2 2011
Property Type:
Prime High Street
Property Type:
Prime High Street
Property Type:
Prime High Street
Purchaser:
PonteGadea
Purchaser:
Overseas Investor
Purchaser:
Red Circle
Vendor:
Private Irish Investor
Vendor:
Irish Investor
Vendor:
Statuto
Tenant:
Alain Manoukian; CE
Tenant:
Zara, River Island,
New Look, Next
Tenant:
Diesel
Price:
€21m
Price:
£215m
Price:
€66m
Yield:
4.65%
Yield:
4.5%
Yield:
Confidential
Size:
661 sq m
Size:
14,125 sq m
Size:
3,000 sq m
A
www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
The Apthorp, 2211 Broadway,
NEW YORK
15 union square west,
New york
MariahilferstraSSe 116,
Vienna
Date:
Q1 2011
Date:
Q1 2011
Date:
Q4 2010
Property Type:
Prime High Street
Property Type:
Prime High Street
Property Type:
Prime High Street
Purchaser:
William Friedland
Company, LLC
Purchaser:
State Teachers Retirement
System of Ohio
Purchaser:
BA Real Invest
Vendor:
Apthorp Associates
Vendor:
Brack Capital
Vendor:
DEKA
Tenant:
JP Morgan Chase,
Apthorp Pharmacy
Tenant:
HSBC Bank, Lululemon
Athletica and Sketchers
Tenant:
United Colors of Benetton
Price:
$37m
Price:
$57.9 m
Price:
€27m
Yield:
5.77%
Yield:
5.78%
Yield:
5.5%
Size:
1,627 sq m
Size:
1,347 sq m
Size:
6,460 sq m
A
www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
933-943 Madison Avenue/
33 East 74th Street, NEW YORK
Regent Street,
LONDON
SchadowstraSSe 20-22,
DÜSSELDORF
Date:
Q4 2010
Date:
Q4 2010
Date:
Q3 2010
Property Type:
Prime High Street
Property Type:
Prime High Street
Property Type:
Prime High Street
Purchaser:
Daniel Strauss
Purchaser:
Norges Bank
Purchaser:
Dohle Family
Vendor:
The Whitney Museum
Vendor:
The Crown Estate
Vendor:
EPI Fund
Tenant:
Calypso, Michael Ashton;
remaining 4 stores vacant
Tenant:
Various
Tenant:
Gerry Weber
Price:
$95 m
Price:
£452m (25% share)
Price:
€37m
Yield:
N/A
Yield:
Confidential
Yield:
4.6% GIY
Size:
4,558 sq m (includes
“Annex” building at 33 East
74th Street)
Size:
370,000 sq m
Size:
2,021 sq m
A
www.cbre.eu/primeretail
PRIME RETAIL TRANSACTIONS
Spitalerhof,
HAMBURG
Park House,
LONDON
103 Avenue Champs Elysée,
PARIS
Date:
Q3 2010
Date:
Q2 2010
Date:
Q1 2010
Property Type:
Prime High Street
Property Type:
Prime High Street
Property Type:
Prime High Street
Purchaser:
Bayerische
Versorgungskammer
Purchaser:
Barwa
Purchaser:
Private Middle Eastern
Investor
Vendor:
Alcove Spitaler PropCo.
Vendor:
Land Securities
Vendor:
HSBC
Tenant:
Orsay, Tack, New Yorker
and others
Tenant:
Development
Tenant:
HSBC
Price:
€158.5m
Price:
£250m
Price:
€400m
Yield:
5.20% GIY
Yield:
Confidential
Yield:
5.25%
21,200 sq m
Size:
29,000 sq m
Size:
33,164 sq m
Size:
A
www.cbre.eu/primeretail
CONTACTS
John Welham
Head of European Retail Investment
t: +44 20 7182 2755
e: [email protected]
NEW YORK
William Shanahan
Vice Chairman
t: +1 212 984 6656
e: [email protected]
LONDON
Phil Cann
Executive Director
t: +44 20 7182 2265
e: [email protected]
PARIS
Nicolas Verdillon
Head of French Capital Markets
t:+33 1 53 64 30 81
e: [email protected]
MILAN
Paolo Bellacosa
Executive Director
t: +39 02 303 777 55
e: [email protected]
A
www.cbre.eu/primeretail
PROFESSIONAL PROFILE - JOHN WELHAM
JOHN WELHAM
Executive Director
Head of European Retail Investment
CAREER SUMMARY
John Welham is an Executive Director of CBRE and leads the Retail Investment Group within
the EMEA region.
John is responsible for the co-ordination of the group’s Retail investment activities and
concentrates on strategic and property specific investment advice for cross border investors
in the shopping centre, retail park and other retail and leisure sectors. John is also the
founder of the Prime Retail Transaction Group, focusing on retail assets in major cities such
as London, Paris, Milan, New York and many other core capital city locations.
John has over 25 years’ experience of shopping centre investment and development in
Europe and has carried out investment or advisory activities in most European countries.
Prior to becoming a retail investment advisor John spent 7 years at Norwich Union working
within the European Investment Team including 3 years based in Paris.
RECENT SIGNIFICANT ASSIGNMENTS
PROPERTY
Henrietta House
Henrietta Place
London W1G ONB
t: +44 207 182 2000
f: +44 207 182 2060
d: +44 207 182 2755
e: [email protected]
A
VALUE
Disposal
54-60 rue de Faubourg Saint-Honoré, Paris
o 165 Million
Disposal
Neumarkt Galerie, Cologne
o 132 Million
Acquisition
Rheinberg Galerie, Bergisch Gladbach
o 62 Million
Acquisition
Schloss Arkaden, Braunschweig
o 240 Million
Disposal
The Waterfront, Bremen,
o 65 Million
Acquisition
Ballonti Shopping Centre, Bilbao
o 115 Million
Disposal
Heron City, Stockholm
o 97 Million
Disposal
Molo Shopping Centre, Szczecin
o 55 Million
Acquisition
Tommy Hilfiger, Dublin
o 24 Million
Disposal
Kant Centre, Berlin
o 56 Million
Disposal
Parkboulevard, Rotterdam
o 55 Million
Disposal
Marques Avenue, Corbeil, France
o 51 Million
Disposal
Paunsdorf Centre, Leipzig
o 74 Million
Acquisition
Kungens Kurva Retail Park, Stockholm
o 50 Million
PROFESSIONAL
AFFILIATIONS
John is a member of the
Royal Institution of Chartered
Surveyors.
EDUCATION
John is a graduate of the
University of Greenwich with
a BSc hons degree in Estate
Management.
CLIENTS REPRESENTED
• Henderson Global Investors
•Deka
•Union
• British Land
•Redevco
•Resolution
• CBRE Global Investors
•Hammerson
• Ivanhoé Cambridge
• Fociere Euris
www.cbre.eu/primeretail
PROFESSIONAL PROFILE - WILLIAM SHANAHAN
WILLIAM SHANAHAN
Vice Chairman
Investment Properties Institutional
Group New York, New York
CAREER SUMMARY
During his almost three decades in real estate, Bill Shanahan has sold, financed, and
structured some of the industry’s most innovative and iconic assets. Widely regarded as one
of the industry’s most talented capital markets professionals, Bill’s wide range of transaction
experience in major markets has put him at the forefront of industry changing trends.
Bill joined CBRE in 2002 after a successful career at Cushman & Wakefield. He serves as
Vice Chairman, Investment Properties Institutional Group and is primarily focused in the
New York market. In his career, Bill has completed sales, advisory, joint venture, financing,
leasehold and development transactions exceeding $60 billion.
RECENT SIGNIFICANT ASSIGNMENTS
PROPERTY
200 Park Avenue
New York
10166
United States
t: +212 984 6656
f: +212 984 6660
e: [email protected]
A
VALUE
Sale
Peter Cooper Village & Stuyvesant Town
$5.4 Billion
Sale
Kushner Residential Portfolio
$1.9 Billion
Joint Venture
299 Park Avenue
$624 Million
Joint Venture
Park Avenue Plaza
$588 Million
Joint Venture
1540 Broadway
$347 Million
Leasehold
The Argonaut Building
$182 Million
Leasehold
635 Madison Avenue
$110 Million
Development / Land
400 Fifth Avenue
$210 Million
Development / Land
920 Eighth Avenue
$135 Million
Advisory / Acquisition
Google – 111 Eighth Avenue
$1.8 Billion
Advisory / Acquisition
Battery Park City Authority
$1.0 Billion
Advisory / Acquisition
452 Fifth Avenue
$330 Million
Financing / Structured Sale
111 Eighth Avenue
$500 Million
Financing / Structured Sale
1166 Avenue of the Americas
$400 Million
Financing / Structured Sale
Waterside Plaza
$120 Million
PROFESSIONAL AFFILIATIONS
• Real Estate Board of New York
(REBNY)
• Appraisal Institute (MAI)
EDUCATION
• St. John’s University, New York,
Finance Master’s Studies
• St. John’s University, New York,
B.S., Communications / Business
achievements
• Rebny’s Edward S. Gordon
Memorial Award (2010 & 2011)
• REBNY’s Robert T. Lawrence
Memorial Award (2008)
• CBRE #1 Ranking Worldwide
(2006 & 2011)
• #1 Ranking Worldwide
Investment Team (2007 & 2011)
• #1 Ranking Investment
Professional and Team
(2005-2011)
• Top 5 Worldwide (2005-2011)
• Colbert Coldwell Circle
(2003-2011)
• Cushman & Wakefield’s Service
Excellence Achievement Award
(2001)
CLIENTS REPRESENTED
•AIG
•Blackrock
• Deka Immobilier
• Helmsley Estate
• Kuwait Investment Authority
• M&T Bank
• Morgan Stanley
• Prudential Life Insurance
• Swiss Bank Corporation
• Tishman Speyer Properties
www.cbre.eu/primeretail
PROFESSIONAL PROFILE - PHIL CANN
PHIL CANN
Executive Director
Capital Markets – Retail Investment
CAREER SUMMARY
Phil Cann was appointed to the Executive Directorship in 2007 and currently runs the Retail
Capital Markets team, covering the UK and specialising in Central London.
Phil works closely with a number of major clients including PRUPIM, Invista, Great Portland
Estates Plc, Avestus Partners, Legal & General, AXA REIM, British Land, Royal London and
Scottish Widows.
Phil has been involved in a number of limited partnership deals including the Great Victoria
Partnership between Great Portland Estates and Liverpool Victoria and also the Great
Capital Partnership between Great Portland Estates and CapCo.
RECENT SIGNIFICANT ASSIGNMENTS
PROPERTY
Henrietta House
Henrietta Place
London W1G ONB
t: +44 020 7182 2265
f: +44 020 7182 2502
e: [email protected]
A
VALUE
Sale
299-307 Oxford Street
£94.5 Million
Sale
215-219 Oxford Street
£55 Million
Sale
221-223 Oxford Street
£36 Million
Sale
313-319 Oxford Street
£58.5 Million
Sale
204-206 Regent Street
£40 Million
Sale
240 Regent Street
£220 Million
Acquisition
Kingsland House and Austin Reed
£35 Million
Acquisition
13-15 Old Bond Street
£53 Million
Sale
Asprey building
£73.5 Million
Sale
Bond Street House
£45 Million
Sale
Mixed use asset to a private property company
£10.25 Million
Sale
81-103 Kings Road
£66.5 Million
Sale
Knightsbridge Estate
£585 Million
EDUCATION
BSc Honours degree in
Estate Management from
Leicester Polytechnic
CLIENTS REPRESENTED
• Great Portland Estates Plc
• British Land Plc
•PRUPIM
• Royal London Asset Mgmt
• Avestus Partners
• Legal & General
• AXA Reim
• Canada Life
•Ramsbury
• Unit RE
www.cbre.eu/primeretail
PROFESSIONAL PROFILE - NICOLAS VERDILLON
NICOLAS VERDILLON
Director
Head of French Capital Markets
CAREER SUMMARY
Nicolas Verdillon is a Director of CBRE France and leads the Capital Markets Department
within the French office. Nicolas has extensive experience within the prime high street sector
and has transacted a number of high profile luxury retail assets in central Paris.
Nicolas is responsible for the retail, office and residential investment market in France.
He has over 20 years’ experience of real estate and has carried out investment advisory
activities mostly in France.
After 17 years with JLL & C&W as a letting agent, valuer and investment advisor, Nicolas
joined CBRE 7 years ago and now has 15 years’ experience within the French investment
market.
RECENT SIGNIFICANT ASSIGNMENTS
PROPERTY
145-151 rue de Courcelles
75017 Paris
France
t: + 33 1 53 64 00 00
f: +33 01 53 64 33 01
d: +33 1 53 64 30 81
e: [email protected]
A
EDUCATION
Nicolas is a graduate
of the European Business
School (Paris, London &
Madrid)
CLIENTS REPRESENTED
•AEW
• Euro commercial
•Grosvenor
•Hammerson
•Redevco
•Unibail
•Vastned
•Wereldhave
VALUE
Disposal
14 rue Halevy, France
o 21 Million
Disposal
54-60 Rue de Faubourg Saint-Honoré Paris
o 165 Million
Disposal
15 place du General de Gaulle, Lille, France
o 12 Million
Disposal
Le Printemps Hommes Department Store, Paris o 144 Million
Disposal
Retail Portfolio (15 tenants), Paris, France
o 16 Million
Disposal
O Parinor shopping centre, France
o 139 Million
Disposal
Passy Plaza shopping gallery, Paris
o 70 Million
Disposal
Marques Avenue A6, Corbeil, France
o 51 Million
Acquisition
Retail Parks, Paris Region
o 23 Million
www.cbre.eu/primeretail
PROFESSIONAL PROFILE - PAOLO BELLACOSA
PAOLO BELLACOSA
Executive Director
Capital Markets
CBRE Italy
CAREER SUMMARY
Paolo Bellacosa is Executive Director, Head of the Capital Markets Department of CBRE
Italy. He joined the company in July 2004.
Paolo coordinates a team of five that offer consulting services related to acquisitions,
sales and real estate development for all uses, with respect to both individual properties
and portfolios. These activities are carried out on behalf of both Italian and international
investors (whether they are private or institutional).
Over the past four years, Paolo has originated transactions for an annual average
of €600/800 million, assisting the senior management of parent companies in the
development of the Italian market.
BACKGROUND
Aedes S.p.A. – Milan. Real Estate Acquisitions covering financial, legal, tax and real estate
topics. Constitution of strategic JV with Pirelli RE for €300 million (prime property-office
portfolio). Constitution of strategic JV with CDC IXIS Group for €300 million (retail and
office). Supported the activity of the Board of Directors in preparing executive committee
and board of directors meetings.
Via del Lauro, 5/7
Milan 20121
Italy
t: +39 02 3037 7755
e: [email protected]
A
QUALIFICATIONS
Degree in Business Administration,
Università Commerciale Luigi
Bocconi – Milan
Real Estate Executive Program at
Harvard Business School – Boston
(USA)
KEY CLIENTS
• Immobiliare Europea
• Stilo Immobiliare
•Auchan
•Coopsette
RECENT SIGNIFICANT ASSIGNMENTS
PROPERTY
VALUE
Sale Advisory
Antegnate Shopping Centre
o 150 Million
Sale Advisory
Franciacorta Outlet Village
o 200 Million
Sale Advisory
Sicilia Factory Outlet (land)
o 20 Million
Sale Advisory
Eurosia Shopping Centre
o 29 Million
Acquisition Advisory
Diesel Store
o 66 Million
www.cbre.eu/primeretail