Almost everyone has seen single-use areas such as the one in Hamburg’s Billbrook district, where commercial real estate is spread out as far as the eye can see. This homogenous approach to urban planning has sucked the character out of the district and made it look monotonous.
The goals of its architects — summarised in the 1989 Delors Report as free movement of goods, capital, services and labour — seemed laudable and historically compelling. France’s President Mitterrand and Germany’s Chancellor Kohl felt that a single currency would enhance Europe’s role in the world monetary system and turn the continent into a truly unified market. European leaders also believed that economic cooperation and political integration would reduce the likelihood of a repetition of the destructive wars of the 20th century.
On a Pan-European basis, the logistics sector continues to experience major transformation. Supply chains are being reconfigured in the search for optimal efficiency, leading to the emergence of core logistics locations that serve large urban areas and facilitate the smooth running of global trade routes.
Hard hats, first fixes and construction inspections might not appeal to all real estate investment firms. But there is a growing contingent of managers across Europe who are embarking on higher-risk development investments across a number of sectors, in search of income and much-needed stock.
The boundaries between infrastructure, real estate, and private debt are becoming increasingly blurred, according to Aviva Investors.
Coastal cities around the world could learn some valuable lessons from the Dutch when it comes to reducing their flood risk.
There has been a spate of major purchases of commercial real estate assets in Europe
Significant news came out of the UK at the tail end of the summer, when the country’s largest defined contribution pension scheme, NEST, applied to become a regulated Occupational Pension Scheme (OPS) firm.
Catella Residential Investment Management’s European Residential III fund has received its first commitment from outside Germany, with a €40 million capital injection from France’s Primonial REIM.
LaSalle Investment Management is looking to secure €1 billion of capital for its new real estate debt fund, LREDS IV, which is scheduled to launch by the end of this year.
Senior independent living yields currently stand at an average of 4 percent to 4.5 percent in Europe, representing an attractive premium over standard residential of between 150 and 200 basis points, according to AEW.
Funds of funds have not always been the most sought-after vehicles for investors with an appetite for non-listed real estate. But recent data suggest a shift in attitudes and preferences. Funds of funds now have a rising appeal that seems rooted in a combination of complementary elements.