All Real Assets articles in September 2011 (Magazine)
View all stories from this issue.
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Magazine
Peakside Capital eyes CEE distress
Peakside Capital, the private equity-style real estate manager that was spun out of Bank of America Merrill Lynch, is currently focusing on Germany and central and eastern Europe (CEE), and is particularly interested in capitalising on distressed situations in the real estate markets there. Roger Barris, founding partner at Peakside, says the firm was positive on Germany before it became flavour of the month among the wider investment community, while Western European markets that have strongly recovered are no longer
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Magazine
Sustainability primer
The definition of prime in European office markets currently lack any explicit reference to sustainability. Lesley Atkinson-Baldwyn, Sarah Sayce and Judy Smith ask: Will green become a prime colour?
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Magazine
Diversity in adversity
Following the withdrawal of Western capital from the region, the diverse markets of Asia have been buoyed by growing investment appetite from local institutional investors. But, as Gail Moss finds, opportunities and challenges remain in equal number
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Magazine
London’s enduring appeal
The London office sector has been one of the main focal points over the past two years for global investors. Are there still opportunities? Yes, according to Mervyn Howard and Scott Rowland
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Magazine
Systemic risk endangers Asian tiger
Economist-gurus Nouriel Roubini and Gary Shilling, predictors of an eventual, property-induced hard landing for the Chinese economy, have been joined by ratings agency Fitch, which recently raised the possibility of systemic spread.
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Magazine
Ground leases attract UK pension money
Returns are steady rather than stellar. But with characteristics that allow for liability-matching, inflation-hedging and a low-risk profile, it is not hard to see why pension funds might want to buy into ground rent funds.
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Magazine
Biting the bullet
After years of much talk and little action, there appears to be some real movement in real estate refinancing and bank deleveraging. Ari Danielsson says the early evidence suggests there is no one-size-fits-all approach
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Magazine
Can CalPERS replicate Brazilian success?
The announcement that CalPERS and sustainability specialist developer Hines had recouped $160m (€111m) from the sale of their multi-asset, multi-city Brazilian real estate fund does not mark a vote of no-confidence in the BRIC market. Far from it.
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Magazine
Why Europeans are buying and Canadians selling
Investment activity in the European hotel sector has picked up substantially, as evidenced by AXA Real Estate Investment Managers’ recent €132.9m portfolio acquisition for French institutions. But only a month prior, the Quebec state pension fund sold its near-50% interests in five Westin hotels as part of a tactical shift ...
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Magazine
Keep calm and carry on
The sovereign debt crisis in the euro-zone has imposed a new phase of uncertainty on the European real estate markets. Justin O’Connor looks at how investors should respond
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Magazine
The case for the defence
Recent research has seriously questioned the notion that real estate is an effective hedge against inflation. Joe Valente says such arguments are missing the point
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Magazine
Global price comparison
With ANREV’s fees study completed, an international comparison is possible with data from INREV, PREA and ANREV. Lonneke Löwik reports
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Magazine
Popularity contest
Core domestic property – and infrastructure – is in high demand among Belgian institutional investors, but they are facing the problem of increasingly low yields as a result. Gail Moss reports
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Magazine
OPERF retains control in Prologis deal
What looked at first like a straightforward fund investment turned out to be the mother of all contracts, complete with multiple caveats, opt-ins and get-outs. The recommendation document, presented to the Oregon Investment Council (OIC) for a “strategic partnership” between the $59bn (€41.6bn) Oregon Public Employees Retirement Fund (OPERF) and ...
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Magazine
The core conundrum
A widespread flight to quality has seen core real estate markets re-price significantly. Does this mean investors should move up the risk curve, into secondary assets and locations? There are no easy answers, Shayla Walmsley finds
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Magazine
Revealing the true cost
ANREV has produced its first ever study on fund management fees as it seeks to improve transparency in the region. Clara Lee reports
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Magazine
Gateway departure?
Domestic and foreign institutional investors have been piling in to prime property in gateway cities. But, as Nangyal Tsering reports, question marks hang over secondary markets as the economic future remains unclear
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MagazineThe hidden risk dimension
Investors have the tools to assess the investment and financial risks relating to listed real estate, but operational risk remains opaque. Dirk Brounen and Wendy Verschoor explore the implications this has for accurate pricing
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MagazineDisproportional representation
The German listed sector is small relative to the underlying property market. Alex Moss and Fraser Hughes look at whether this is likely to change soon
