The Property Ticker UK mortgage approvals drop in May; Office availability in modern London towers sinks to almost zero; Barclays buys its 1-million-square-foot Canary Wharf HQ … and more

Research evidence excerpt

The Property Ticker UK mortgage approvals drop in May; Office availability in modern London towers sinks to almost zero; Barclays buys its 1-million-square-foot Canary Wharf HQ … and more

sen 11% over the past two years. Skyscraper

offices continue to outperform the wider market, supported by a growing demand-supply

imbalance and the City narrowing the prime rent gap with the West End. (Source: CoStar)

• UK private equity firm Bridgepoint to buy Kayne Anderson Real Estate in a $1.39

billion deal: Bridgepoint has agreed to acquire U.S.-based Kayne Anderson Real Estate

in a deal valued at $1.39bn EV, adding real estate as a fifth investment strategy alongside

private equity, credit, infrastructure and secondaries, and taking combined AUM to

roughly $117bn. The transaction strengthens Bridgepoint’s exposure to the large U.S.

alternatives market while providing diversification through recurring fee income

streams. Kayne Anderson, which recently raised a record $5.1bn real estate fund focused

on sectors such as medical office, seniors housing, student housing and light industrial,

will continue to operate under existing leadership as “Kayne Bridgepoint”, with CEO Al

Rabil highlighting strong long-term opportunities across alternative real estate sectors.

The acquisition continues Bridgepoint’s strategy of expanding through M&A and

broadening its platform across alternative asset classes. (Source: CoStar)

• Barclays buys its 1-million-square-foot Canary Wharf HQ: Barclays has acquired the

999-year leasehold interest in its 1m sq ft Canary Wharf headquarters, One Churchill

Place, for £750m, securing long-term control of its global headquarters beyond the

current lease expiry in 2039 and providing greater certainty over future occupancy costs.