Kenmore's European portfolio reached £920 million at the end of July 2007, based on cost value. Assets are spread across Norway, Sweden, France, Germany, Belgium, Holland and Finland.
European offices have been established in Paris, Stockholm, Berlin and Antwerp allowing Kenmore to provide deal flow, asset management services and the local market knowledge necessary to access further opportunities.
Strategy
Kenmore began investing in Europe in 2002 in order to diversify assets outside the UK at lower finance costs and to take advantage of the favourable market conditions. We continue to seek opportunities in Europe where there is a potential for good returns through active asset management and the application of innovative funding and management structures.
Deal flow is developed through joint venture operations in Europe but also through careful selection of country specific partners who provide the local market knowledge and expertise required to generate optimal transactions. We maintain a flexible approach, investing in complex asset and corporate backed deals, selective secondary property locations and variable sector types.