Finland’s Big Deal
Stockholm-based private equity firm
NIAM is confident about the future of Helsinki’s office market. The firm
purchased a portfolio comprised of 15 office and two retail properties in the
city totaling more than 100,000 sm at a 7.8 percent yield. “We are very
satisfied with the investment and its excellent locations, high-quality
properties, and steady existing income,” says Johan Bergman, NIAM’s chief
executive officer. German bank Helaba provided the financing.
economic] growth will be led by a handful of emerging markets — notably Russia
and Turkey — but their expansion will be slower than it was previously.
Elsewhere, the Nordics will lead followed by Germany, Switzerland and the U.K.,
but risk patterns may alter if financial markets start looking for other
David Hutchings, head of European research at Cushman & Wakefield, Economic
Pulse: Forecast 2013
Driven by government support for
business investments, office space demand in India’s top eight cities is expected to reach 180 msf over the next
five years, according to Cushman & Wakefield. Mumbai leads the charge with
44 msf of estimated demand, followed by Bengaluru (31 msf) and the National
Capital Region (27.8 msf). However, office supply is forecast to outstrip
demand in the top eight cities by approximately 40 msf, leading to rental
correction in select micro-markets.
Hotel inventory in Seoul, South
Korea, could reach
40,000 rooms by 2016, according to Jones Lang LaSalle, an 86.3 percent increase
over 2011’s supply. It’s a welcome addition: Approximately 10 million
international visitors stayed in Korea last year, and 1 million additional
visitors are forecast for each year through 2014. Most of the new hotels will
be locally managed limited-service properties.