MIPIM 2016: Mike Sales, TH Real Estate’s co-global head, was in buoyant mood at MIPIM, boosted by the launch of its new European cities fund as well as the recent performances of his beloved Crystal Palace football club.
Earlier this week the fund manager launched the €3-€5bn (£2.3-£3.5bn) vehicle with €200m of co-investment from TH RE’s parent company TIAA, and it is expected to secure major new commitments in the near future.
“It is all about investing where we see long-term structural growth and the mega trends that make great cities and what will make cities great going forward. Whilst we are property players and there are short-term cycles, we believe investing over the long term in these cities will deliver outperformance,” he said.
Crystal Palace have clinched a date at Wembley, having reached the semi-finals of the FA Cup following their 0-2 win over Reading at the weekend, but fanatical Sales is attempting to keep a level head.
“We’re taking every game as it comes, delighted to be at Wembley and of course I will be there, but what I really want is for us to cement our league position.”
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