SPONSORED: PATRIZIA — Europe real estate enters ‘decarbonization cycle’

In the current European real estate market, portfolio construction should be focused on income resilience, while retail and office selectively offer value-added and opportunistic investment opportunities, says Radu Mircea, director of investment strategy and research with PATRIZIA, focused primarily on the firm’s European real estate strategy. In an interview published in the September issue of Institutional Real Estate Americas, Mircea provides an update on the European real estate market. One factor is the need to bring existing assets to higher sustainability levels. “The need to respond to the climate change crisis and also to diversify away from Russian gas imports have amplified the political impetus behind the decarbonization agenda,” says Mircea. “Given the amount of emissions the built environment generates, real estate is going to remain an important part of that effort, and we’re seeing more regulation being considered, which will accelerate the pressu