All articles by Richard Lowe – Page 93
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News
INREV index reinforces economic downturn
EUROPE - The INREV index returned -26.8% in 2008, down from -2.7% in 2007, as European non-listed real estate funds continued to feel the effects of the global financial crisis.
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Listed stocks could be a market turn indicator – study
GLOBAL - Listed real estate stocks tend to lead the underlying property markets by six months and can therefore be used as a leading indicator to enhance real estate investors’ returns, according to a study by Cohen & Steers.
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Western Europe favoured in real estate trading
EUROPE - Investment activity in European commercial real estate was down significantly in the first quarter of 2009, especially in central and eastern Europe (CEE), although the retail sector saw stronger transaction volumes, according to property agencies.
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News
JER loses another key player
GLOBAL - Michael Pralle has resigned as chief operating officer at real estate opportunity fund manager JER Partners after joining 18 months ago.
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News
ING REIM loses its head
GLOBAL - Robert Houston is stepping down as chief executive of ING Real Estate Investment Management in the summer.
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Pension funds advised to look to real estate
UK – UK pension funds seeking inflation-hedging investments should look to their domestic real estate market in the current economic uncertainty, according to Legal & General Property (LGP).
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Pension funds under pressure to get involved
GLOBAL - Institutional investors are coming under pressure to become more actively involved in the management of their commingled real estate funds as managers struggle with the effects of the downturn.
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INREV uncovers concerns over secondary market
EUROPE – Approximately €1.1bn of secondary trades were executed in the past 12 months by 18 INREV member funds, with a further €230m of trades in the pipeline, but the prospect of an efficient secondary market for European non-listed real estate funds remains uncertain, INREV members discovered at this week’s ...
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MagazineCommitment issues
There is growing evidence that limited partners in real estate funds are seeking to delay capital calls. Richard Lowe explores what this means for alignment of interest and the options investors have when capital commitments cannot be met
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Magazine
Staying at home
A year ago, PKA was looking to invest in Asian real estate. Today, it is almost exclusively focused on opportunities in its home market. Richard Lowe talks to Nikolaj Stampe about investing in uncertain times
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MagazineFeeling the squeeze
The denominator effect has caused many investors’ level of exposure to real estate to increase artificially and has placed pressure on their liquidity management. Richard Lowe talks to three European pension funds about their experiences
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MagazineLessons in debt
Why buy a property when you can purchase the debt behind it? Institutional investors are grappling with this very question and, as Richard Lowe discovers, for many it might pose a real challenge
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MagazineAll roads lead to Munich
Munich-based Pacific Star Europe is offering European investors global fund of funds solutions and ‘modular’ access to a range of Asian funds managed by its Singapore-based parent company. Richard Lowe speaks to former E.ON Energie and Allianz Real Estate employees Dirk Große Wördemann and Matthias Stürmer about the challenges they ...
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MagazineTake stock
The state pension fund of Finland is aiming to grow its real estate exposure over the coming years. But managing director Timo Löyttyniemi tells Richard Lowe how the current market uncertainty has prompted VER to review its existing investments
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MagazinePriceless property
As transactional data has almost entirely dried up, the true market value of real estate is shrouded in uncertainty. Richard Lowe speaks to three pension funds about what this means for their existing portfolios and investment strategies
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MagazineNo room to manoeuvre
Evidence suggests that pension funds remain committed to real estate in the medium term despite the recent turmoil in the markets. Yet, in the short term many are finding it difficult to commit to new investments as the denominator effect takes hold. Richard Lowe reports
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MagazineFreeze frame
Valuers continue to seek to reflect market sentiment in the face of transactional inactivity. But how realistic is it provide a snapshot of a property’s value when, effectively, there is no market? Richard Lowe investigates
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MagazineBest of both worlds
Robert Steers co-founded one of the most pioneering listed real estate management companies with Martin Cohen in the 1980s. Today, he is advocating the creation of global property portfolios that blend both listed and non-listed. Richard Lowe reports
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MagazineAll aboard the transatlantic ship
A once-in-a-lifetime opportunity or a potential minefield of uncertainty? Richard Lowe talks to both European investors and advisers on the ground about distressed opportunities in the US
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News
Capital calls face defaults and delays
A number of real estate fund investors are defaulting on capital calls or asking fund managers to delay them as they look to rebalance portfolios and generate liquidity.
