Editor Richard Fleming spoke recently with Dr Karen Sieracki, director at KASPAR Associates Ltd in Tunbridge Wells, United Kingdom, about the role of real estate in the investment world of the moment.
From the Current Issue
European real estate is in the midst of a generational deleveraging cycle that is less than halfway through, more than five years on from the onset of the global financial crisis. There are different ways to frame the refinancing challenge that lies ahead for Europe’s real estate debt markets.
Following the weakening of European property markets, investors and managers have come to realise that some of the recent challenges and financial difficulties were also the consequence of poorly-conceived investment strategies, governance and weak alignments of interests between managers and investors. In this article, we will try to explore the situations that created these challenges and explain how the underwriting in non-listed real estate funds has evolved.
Negative news and reports on the Chinese economy have emerged as the world’s growth engine shows signs of decelerating. People have started to question China’s growth pattern, which relies heavily on investment. A more in-depth look at the risks associated with the Chinese economy and the property market demonstrates that much of the perceived risk is, in fact, overstated.
Retailing, and retail real estate, is again going through a period of change. In addition to the impact of the recession and extended austerity, retailing is being transformed by the rapid growth of Internet and multichannel shopping.
UK Core Property Fund, an open-end fund sponsored by AEW UK, has bought an additional five properties for its portfolio.
A survey of high-net-worth investors has found that London real estate is their top target investment class.
Invesco Real Estate has paid €200 million for two separate French retail properties: Alpha Park 2, a newly-built 35,000-square-metre retail park in Les Clayes-sous-Bois, and 144 rue de Rivoli, a 6,750-square-metre mixed-use retail and office property in central Paris.
IPD has released the mid-year results for global commercial real estate, finding strength in North American markets and continuing bad news for European investors.
Union Investment has launched Specialised Investment Fund, which invests in wind farms and gains exposure to photovoltaic plants, primarily in France, Germany and the United Kingdom.
Union Investment Real Estate GmbH, on behalf of its UniImmo: Deutschland open-end real estate fund, has purchased the fully-let Euro Plaza 4 office building located in Vienna.