Swing Property | Investa taken private

portfolio_page-template-default,single,single-portfolio_page,postid-277,ajax_fade,page_not_loaded,,qode_grid_1300,qode_popup_menu_push_text_right,footer_responsive_adv,qode-child-theme-ver-1.0.0,qode-theme-ver-11.1,qode-theme-univers core,wpb-js-composer js-comp-ver-5.1.1,vc_responsive

Investa taken private

Change in business owners

As a Group Executive of Investa, Rich experienced close hand the contrasting value proposition of different shareholders during Morgan Stanley’s purchase of Investa Property Group. Morgan Stanley’s longer term view of Investa provided an alternative strategic position to the annually reporting listed environment.

ACTIVITY

Takeover

SECTOR

OFFICE< INDUSTRIAL< RESIDENTIAL, RETAIL

VALUE

$7 BN+

Insight

The interaction with Morgan Stanley during and after the takeover period mirrored many of the same strict disciplines of the listed property trust environment. While still maintaining an intense focus on cashflow, what was noticeably different in the private equity environment was a focus on longer term business value to maximise returns. This was a contrast to the listed environment of closely monitored bi-annual returns and reporting that doesn’t neatly match the property return profile let alone a development return profile. However, the listed environment provided a level of liquidity that isn’t readily available in the direct property private equity world. Rich‘s initiative and dexterity was instrumental in changing capital priorities for new acquisitions but also to manage an existing $2.5bn development pipeline.