Managers Reshuffle the Deck: Some Firms Retrench, While Others Seek to Grow Asset Base
The chaos of the financial markets’ implosion and the ensuing Great Recession has subsided, although significant uncertainty remains. Now that many economies around the world are showing slow but sustainable growth and liquidity has returned to the commercial property markets, investment managers around the globe are moving to shore up their portfolios and also take advantage of favorable buying opportunities and low interest rates. These trends were evident throughout 2010 as well-positioned investment managers looked to grow their asset bases through M&A activity and property acquisitions, while those managers with troubled financial situations or portfolios sought to recapitalize and deleverage. This market activity has produced an ongoing reshuffling of the deck, as some investment firms have expanded while others have retrenched.
The results of this reshuffling are reflected in the recent global survey of 129 real estate investment managers conducted by Feri Proper