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Next Issue Monday
15 March 2010
Featured Events
- MIPIM 2010
16-19 March 2010
Cannes, France
- TRE - Tourism Real Estate Exhibition
15-18 April 2010
Venice, Italy
- City Marketing and Development Congress - CMDC
28-29 April 2010
Moscow, Russia
- Real Vienna
18-20 May 2010
Vienna, Austria
- EIRE Expo Italia
8 - 10 June 2010
Milan, Italy
- Istanbul REstate
16-17 June 2010
Istanbul/Turkey
US Cornerstone acquires UK's Protego to manage $30bn, channel capital across Atlantic
Massachusetts Mutual Life Insurance Company is entering European property by acquiring Protego Real Estate Investors, based in London. The acquisition will be made by the US group's property manager Cornerstone Real Estate Advisers LLC, and is designed to channel property capital both ways across the Atlantic. Cornerstone will also integrate MassMutual commercial mortgage lending unit Real Estate Finance Group of Babson Capital Management. The newly-expanded Cornerstone will thus become a unit of Babson, and will manage some $30bn of real estate assets - ranking it as one of the largest global property managers. Protego, established in April 2004 by Iain Reid, Charles Weeks and Hugo Llewelyn, manages and services some $2.5bn of assets in the UK, Sweden, Finland and Germany. (See upcoming PIE/PFE editions for full story)