MIPIM: The world’s top 100 real estate investors own more than $3.2tn (£2.1tn) of assets, according to Estates Gazette’s second annual ranking of global property firms.
The list, revealed in EG’s Global Investor Guide today, focuses on real estate asset-owning firms rather than debt or securities investors.
China’s dominance in real estate in 2014 failed to go unnoticed in the rankings, with firms from across China and Hong Kong showing some of the biggest moves up the league.
The country’s biggest residential developer, China Vanke, burst into the top five with an increase in assets from $60.3bn to $79.2bn. The group is expected to move further up the rankings next year as it continues to expand globally, particularly in the UK, having just opened a London office.
Hong Kong-based Sun Hung Kai Properties, Wheelock & Co and China Resources Land and China-based Dalian Wanda and Poly Real Estate all also made big jumps up the league table, adding an average of $19bn each to their portfolios in 2014.
In total, Asian investors made up a third of the list by volume with some $999bn of assets.
But it was the US players that continued to dominate, holding the top three positions for a second year in a row. Brookfield Asset Management remained safely at number one with $112bn of assets, followed by CBRE Global Investors with $90.6bn and Blackstone with $80bn. And, despite fielding almost the same number of companies in the league, total investment from the US was $1.3tn.
Some 11 UK firms are represented in the Global 100 with a combined asset base of $251.7bn. Retail REIT Hammerson nudged its way on to the bottom of the league $11.3bn.
There were a total of 10 new entrants this year, with France’s Fonciere des Regions the highest-ranking newcomer with $23.7bn of property in its portfolio. It joined at number 55.
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| COMPANY | Country | Key real estate Contact | TOTAL | |
|---|---|---|---|---|
| 1 | Brookfield Asset Management | US | Barry Blattman | 112 |
| 2 | CBRE Global Investors | US | Matt Khourie | 90.6 |
| 3 | Blackstone | US | Jonathan Gray | 80 |
| 4 | China Vanke | China | Wang Shi | 79.2 |
| 5 | TIAA-CREF (inc Henderson Asia & Europe) | US | Phillip McAndrews | 77 |
| 6 | Sun Hung Kai Properties | Hong Kong | Thomas & Raymond Kwok | 69.5 |
| 7 | Tishman Speyer | US | Jerry & Rob Speyer | 66.9 |
| 8 | JP Morgan Asset Management | US | Joseph Azelby | 65 |
| 9 | Wheelock & Co | Hong Kong | Peter Woo | 62.8 |
| 10 | AXA Real Estate | France | Pierre Vaquire | 62.7 |
| 11 | Dalian Wanda Commercial Properties | China | Wang Jianlin | 62.1 |
| 12 | Pramerica Real Estate Investors | US | Eric Adler | 59.3 |
| 13 | Abu Dhabi Investment Authority | United Arab Emirates | William Schwab | 57.8 |
| 14 | Cheung Kong Holdings | Hong Kong | LI Ka-Shing | 55.3 |
| 15 | China Resources Land | Hong Kong | Wu Xiangdong | 55.3 |
| 16 | LaSalle Investment Management | US | Jeff Jacobson | 53.6 |
| 17 | Poly Real Estate | China | Wang Jian | 51.5 |
| 18 | Principal Real Estate Investors | US | Randy Mundt | 50.5 |
| 19 | AEW Global | US | Jeff Furber | 50.5 |
| 20 | Deutsche Asset & Wealth Management | Germany | Pierre Cherki | 46.8 |
| 21 | Mitsubishi Estates | Japan | Hirotake Sugiyama | 45.1 |
| 22 | Cornerstone Real Estate Advisers | US | David Reilly | 45 |
| 23 | Evergrande Real Estate | China | Xia Haijun | 44.7 |
| 24 | Unibail-Rodamco | France | Christophe Cuvillier | 44.6 |
| 25 | Mitsui Fudosan | Japan | Hidehisa Take | 43 |
| 26 | New World Development | Hong Kong | Henry Cheng Kar-Shun | 42.8 |
| 27 | Aviva Investors | UK | Ian Womack | 39.3 |
| 28 | Sumitomo Realty | Japan | Kojun Nishima | 39.2 |
| 29 | Henderson Land | Hong Kong | La Ka Kit | 39.2 |
| 30 | Starwood Capital | US | Barry Sternlicht | 38 |
| 31 | Qatar Investment Authority | Qatar | Navid Chamdia | 37.4 |
| 32 | Invesco Real Estate | US | David Ridley | 34.9 |
| 33 | Country Garden Holdings | China | Yang Huiyan | 34.1 |
| 34 | Simon Property Group | US | David Simon | 33.3 |
| 35 | Morgan Stanley Real Estate | US | John Klopp | 33 |
| 36 | China Investment Corporation | China | Zhiwei Cai | 32.5 |
| 37 | GIC | Singapore | Goh Kok Huat | 32 |
| 38 | Clarion Partners | US | Stephen Furnary | 31.9 |
| 39 | Westfield Group | Australia | Frank Lowry | 31.2 |
| 40 | Temasek Holdings | Singapore | Alpin Mehta | 31.2 |
| 41 | M&G Real Estate | UK | Alex Jeffery | 30.8 |
| 42 | Aberdeen Asset Management (inc SWIP) | UK | Martin Gilbert | 30 |
| 43 | Shimao Property Holdings | China | Hui Wing Mau | 29 |
| 44 | Capita Land | Singapore | Lim Ming Yan | 28.6 |
| 45 | Hines | US | Hasty Johnson | 28.2 |
| 46 | Heitman | US | Maury Tognarelli | 27.5 |
| 47 | Equity Residential | US | Davide Neithercut | 26.8 |
| 48 | Grosvenor Group | UK | Mark Preston | 26.5 |
| 49 | General Growth Properties | US | Sandeep Mathrani | 25.8 |
| 50 | Hang Lung Group | Hong Kong | Phillip Nan Lok Chen | 25.7 |
| 51 | Bentall Kennedy | Canada | Gary Whitelaw | 25.3 |
| 52 | Angelo, Gordon & Co | US | John Angelo | 25 |
| 53 | Prologis | US | Hamid Moghadam | 24.6 |
| 54 | Longfor Properties | China | Wu Yajun | 23.8 |
| 55 | Fonciere des Regions | France | Jean Laurent | 23.7 |
| 56 | Guangzhou R&F | China | Zhang Li | 23.2 |
| 57 | Health Care REIT | US | George Chapman | 23.1 |
| 58 | Sino-Ocean Land Holdings | China | Luo Dongjiang | 22.8 |
| 59 | China Merchants Property | China | Lin Shaobin | 22.1 |
| 60 | Legal & General Property | UK | Bill Hughes | 21.8 |
| 61 | HCP | US | Lauralee Martin | 21.7 |
| 62 | IVG Immobilien | Germany | Wolfgang Schafers | 21 |
| 63 | BNP Paribas Real Estate Investment Management | France | Henri Faure | 20.3 |
| 64 | Boston Properties | US | Mort Zuckerman | 20.2 |
| 65 | Greentown China Holdings | China | Shou Bainian | 20.2 |
| 66 | American Tower | US | James Taiclet | 20.1 |
| 67 | Vornado Realty | US | Michael Franco | 20.1 |
| 68 | BlackRock (inc MGPA) | US | Laurence Fink | 19.9 |
| 69 | Ventas | US | Debra Cafaro | 19.7 |
| 70 | Land Securities | UK | Rob Noel | 19.5 |
| 71 | Gemdale | China | Huang Juncan | 19.2 |
| 72 | Colony Capital | US | Thomas Barrack | 19 |
| 73 | Emaar Properties | UAE | Fred Durie | 17.7 |
| 74 | Sino Land | Hong Kong | Daryl Ng | 17.4 |
| 75 | Hopson Development Holdings | Hong Kong | Kut Yung Chu | 17.4 |
| 76 | Schroder Property Investment Management | UK | Duncan Owen | 17.3 |
| 77 | Beacon Capital Partners | US | Alan Leventhal | 17 |
| 78 | Agile Property Holdings | China | Chen Cheuk Yin | 16.7 |
| 79 | Standard Life Investments | UK | David Paine | 16.5 |
| 80 | Shui On Land | China | Vincent Lo | 16.3 |
| 81 | Avalonbay Communities | US | Timothy Naughton | 15.3 |
| 82 | Gecina | France | Phillipe Depoux | 15.2 |
| 83 | SL Green Realty | US | Marc Holliday | 15 |
| 84 | Lundbergs | Sweden | Fredrik Lundberg | 15 |
| 85 | Icade | France | Serge Grzybowski | 14.2 |
| 86 | Lend Lease | Australia | Steve McCann | 13.8 |
| 87 | Intu Properties | UK | David Fischel | 13.6 |
| 88 | Global Logistic Properties | Singapore | Jeffery Schwartz | 13.5 |
| 89 | Link REIT | Hong Kong | George Kwok Lung | 13.4 |
| 90 | City Developments | Singapore | Grant Kelley | 13.2 |
| 91 | Stockland Australia | Australia | Mark Steinert | 13.1 |
| 92 | Soho China | China | Zhang Xing | 12.9 |
| 93 | Yuexiu Property Company | Hong Kong | Zhang Zhaoxing | 12.9 |
| 94 | Host Hotels & Resorts | US | Edward Walter | 12.8 |
| 95 | British Land | UK | Chris Grigg | 12.6 |
| 96 | Songbird Estates | UK | George Iacobescu | 12.2 |
| 97 | Aldar Properties | UAE | Mohammed Khalifa Al Mubarak | 11.9 |
| 98 | Paramount Group | US | Albert Behler | 11.5 |
| 99 | Ezdan Holding Group | Qatar | Ali al Obaidli | 11.3 |
| 100 | Hammerson | UK | David Atkins | 11.3 |
