JPMorgan’s global commercial real estate revenue grew to $806 million in the second quarter of 2023, from $642 million in the first quarter.
Highlights at JPMorgan in Europe include acting as sole financing adviser to Vonovia in its sale of a €1 billion stake in its German property portfolio to Apollo. This is believed to be the first time insurance capital has provided equity to a real-estate player at such a scale.
Vonovia is a leading global residential real estate company with assets of approximately $100 billion.
JPMorgan has also been involved in two transactions involving troubled Swedish property group SBB.
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