Company type | Commercial Property Investment Trust |
---|---|
Industry | Investment trust |
Headquarters | London, United Kingdom |
Website | www |
Balanced Commercial Property Trust, formerly BMO Commercial Property Trust, is a large British investment trust dedicated to investments in commercial properties. Established in 2005, the company, which was formerly known as F&C Commercial Property Trust, was listed on the London Stock Exchange until it was acquired by Starwood Capital Group in November 2024.
The company was established as F&C Commercial Property Trust in Guernsey in 2005. [1] Having launched near the top of the market, following the market downturn in 2007–2008, a merger with UK Commercial Property Trust, a fellow FTSE 250 property company was proposed in 2010. This was narrowly rejected by 50.07% of shareholders. [2] It restructured as a real estate investment trust in April 2019 [3] and rebranded as BMO Commercial Property Trust in June 2019. [4] It changed its name from BMO Commercial Property Trust to Balanced Commercial Property Trust in June 2022. [5]
The real estate business, Starwood Capital Group, made an offer for the company worth around £673.5 million in September 2024. [6] The transaction was approved by the court on 25 October 2024. [7]
The Bank of Montreal, abbreviated as BMO, is a Canadian multinational investment bank and financial services company.
Starwood Hotels and Resorts Worldwide, Inc. was one of the largest companies that owned, operated, franchised and managed hotels, resorts, spas, residences, and vacation ownership properties. It was acquired by Marriott International in 2016. Starwood was founded in 1969 as a real estate investment trust. In 1995, it was acquired and reorganized by Barry Sternlicht, who was its chairman until 2005 and founder of the Starwood Capital Group. Starwood had 11 brands and owned, managed, or franchised 1,297 properties comprising 370,000 hotel rooms in approximately 100 countries.
A real estate investment trust is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, studios, warehouses, hospitals, shopping centers, hotels and commercial forests. Some REITs engage in financing real estate. REITs act as a bridge between the worlds of housing and urban development on one hand, and institutional investors and financial markets on the other. They are typically categorized into commercial REITs (C-REITs) and residential REITs (R-REITs), with the latter focusing on housing assets such as apartments and single-family homes.
Brookfield Properties is a North American subsidiary of commercial real estate company Brookfield Property Partners, which itself is a subsidiary of alternative asset management company Brookfield Asset Management. It is responsible for the asset management of the company's real estate portfolio, including office, multi-family residential, retail, hospitality, and logistics buildings. Brookfield Properties acquired General Growth Properties, one of the largest mall operators in the U.S., and merged it into Brookfield Properties in 2018. As of 2024, Brookfield Properties operates corporate offices in nine countries around the world, including China, India, Germany and the US.
Link Real Estate Investment Trust, previously known as The Link Real Estate Investment Trust, is a wholly-owned private real estate investment trust managed by Link Asset Management Limited. It is the first real estate investment trust in Hong Kong and the largest in Asia by market capitalisation.
BMO Bank, N.A. is an American national bank that is headquartered in Chicago, Illinois. It is the U.S. subsidiary of the Toronto-based multinational investment bank and financial services company Bank of Montreal, which owns it through the holding company BMO Financial Corporation. As of March 2024, it was the 15th largest bank in the United States by total assets.
Arlington Asset Investment Corp. is a mortgage real estate investment trust headquartered in McLean, Virginia. It is an investment firm that focuses primarily on investing in mortgage related assets and residential real estate.
Westin Hotels & Resorts is an American upscale hotel chain owned by Marriott International. As of June 30, 2020, the Westin Brand has 226 properties with 82,608 rooms in multiple countries in addition to 58 hotels with 15,741 rooms in the pipeline.
UK Commercial Property REIT, formerly UK Commercial Property Trust, was a large British investment trust dedicated to investments in UK commercial properties. Established in 2006, the company was listed on the London Stock Exchange until it was merged with Tritax Big Box REIT. The chairman was Ken McCullagh. It invested in shopping centres, shops, office buildings and industrial estates and warehousing/distribution centres.
Shaftesbury PLC was a British real estate investment trust which invests exclusively in the heart of London's West End. It was headquartered in London and was listed on the London Stock Exchange until it merged with Capital & Counties Properties to form Shaftesbury Capital in March 2023.
Barry Stuart Sternlicht is an American billionaire and the co-founder, chairman, and CEO of Starwood Capital Group, an investment fund with over $100 billion in assets under management. He is also chairman of Starwood Property Trust. He is the founder of Starwood Hotels and Resorts Worldwide and served as its Chairman and CEO from 1995 to 2005. As of May 2023, his net worth was estimated at $4.6 billion.
Shaftesbury Capital, formerly Capital & Counties Properties plc, (Capco) is a United Kingdom-based property investment and development company focused on sites in the West End of London, including Covent Garden, Chinatown London and Carnaby Street, Soho.
Starwood Capital Group is an investment firm headquartered in Miami Beach, Florida. It is managed by Barry Sternlicht. It was co-founded by Sternlicht and Robert Faith in 1991. In 1993, Faith left Starwood to found Greystar Real Estate Partners.
CapitaLand is a Singaporean headquartered company focusing on investment, development and management of real estate. It has locations in more than 260 cities in over 40 countries.
Prologis, Inc. is a real estate investment trust headquartered in San Francisco, California that invests in logistics facilities. The company was formed through the merger of AMB Property Corporation and Prologis in June 2011, which made Prologis the largest industrial real estate company in the world. As of December 2022, the company owned 5,495 buildings comprising about 1.2 billion square feet in 19 countries across North America, Latin America, Europe, and Asia. According to The Economist, its business strategy is focused on warehouses that are located close to huge urban areas where land is scarce. It serves about 6,600 tenants. Prologis began to expand its non-real estate business, Essentials, in 2022, offering customers solar power, racking systems, forklifts, generators, EV charging infrastructure, and other logistics tech equipment for purchase.
Brightbay Real Estate Partners is a British property investment business. It was acquired by Starwood Capital Group in 2021 and remains a fully integrated Real Estate Investment Trust (REIT).
CA Immo or CA Immobilien Anlagen is an Austrian real estate company based in Vienna with offices in Germany, and the respective capitals of Poland, Hungary and the Czech Republic. CA Immo's core competence is the development and management of office properties in core Europe. In addition to managing existing properties, CA Immo in Germany focuses on the development and realisation of new properties, including entire city districts. As of March 2011, it is a member of the Austrian Traded Index (ATX), the index of the twenty largest companies traded on the Vienna Stock Exchange.
David Werner is an American real estate investor and founder of David Werner Real Estate.
Octopus Capital Limited, trading as Octopus Group, is a privately held United Kingdom based holding company founded in 2000 by Simon Rogerson, Christopher Hulatt and Guy Myles as a fund management company. Through its subsidiaries, it operates in the investment management, venture capital, energy, and real estate industries.