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Axa Real Estate Investment Managers (Axa Reim) has appointed Alan Patterson to the new role of head of European research and strategy. Based in London, Patterson reports to Kiran Patel, global head of strategy and business development, Axa Reim. In this new role, Patterson will manage the expanding European research and strategy team based in London, Paris, Cologne and Madrid. Patterson joins from UBS Global Asset Management, where he was director of pooled property funds and research. Previously, he was property sector analyst at HSBC Investment Bank.

A shortage of inflation-linked risk has pension funds turning to real estate for opportunities. With demand rife, developers can negotiate favourable terms on inflation swaps. Duncan Wood reports.

Leading UK pub and restaurant group Mitchells & Butlers has been forced to shelve a £4.5 billion real estate joint venture and has been plunged into turmoil following a disastrous series of hedges that cost £274 million. As Liquid Real Estate went to press, the instability had prompted a bidding war for the company.

It has been a whirlwind few years for Limitless, a division of the sprawling Dubai World group. Founded in July 2005 with the express aim of designing and developing the best environmentally sustainable buildings and cities, the agency has already scored some big successes. Elliot Wilson reports.

US property stock research firm Green Street Advisors is poised to expand into Europe. Its current chief executive John Lutzius is likely to move to London in April. Lutzius will relinquish most of his US managerial duties to lead the firm’s expansion.

Financing the cities of the future

Banco Santander has completed the sale of its Spanish corporate property portfolio through a series of sale-and-leaseback transactions. The deals, executed over seven months, brought more than €4.3 billion into the bank’s coffers, €1.681 billion of which was a capital gain. The sale of the bank’s Madrid headquarters, Boadilla del Monte, to Propinvest was worth €1.9 billion on its own, making it one of the largest deals to be done in Spain.

Financing the cities of the future

Financing the cities of the future

Financing the cities of the future