“Europe still has a lot of value on offer, despite the very low prime yields in some markets.” That was the message of Sam Martin, executive director and head of research and strategy at AEW Europe, at a research presentation in San Francisco in September.

Martin identified a number of investment themes: in the United Kingdom, regionally dominant shopping centers and office properties in regional locations; in Germany, smaller retail properties and logistics assets in undersupplied markets; in Central and Eastern Europe, retail in major cities in Poland and logistics development in central locations; in France, shopping malls in regional centers and office properties in the Paris CBD fringe; and in Spain, prime offices at strong discounts to pre–global financial crisis capital value peaks, retail in major cities, and logistics in Madrid and Barcelona.

The strong U.S. dollar versus the euro has made investing in European property even more attractive for U.S. inve