'Our experience, resources and contacts allow us to select the most appropriate and attractively valued properties for our funds' - quote from Threadneedle's commercial property investment philosophy.
'Preferred Valuer': CB Richard Ellis Ltd - Threadneedle UK Property Trust Interim Report & Accounts, November 2009
'Barclays aspires to the timeless values of integrity, trust, fairness and openness' - Barclays' Aims & Goals
It is our opinion that the bank appointed CBRE, Threadneedle’s 'preferred valuers', to 'attractively' value our portfolio at £6-8 million less than values given by two alternative independent valuers. CBRE was then appointed as Receiver to sell the portfolio to Threadneedle at a very 'attractive' price.
The bank is a close 'contact' of Threadneedle, having given Threadneedle £330 million of 'resources' in the later part of 2009 to 'invest in properties' on its behalf.
Barclays (Bank) - CBRE (Receiver) - Threadneedle (Purchaser)
It just goes to show, it's not what you know, it's who you know!