Institutional Real Estate Americas

July 1, 2013: Vol. 25, Number 7

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From the Current Issue

Americas

Walk this way: Research indicates that investing in

After World War II, the automobile dictated the shape of suburban development in U.S. metropolitan areas. Our strong reliance on cars shaped cities and buildings throughout the 1950s, 1960s, 1970s and well into the 1980s and 1990s, running counter to leading urbanists’ views of the virtues of pedestrian-friendly streetscapes and development. Why did this occur? There are many reasons:

Americas

Waiting for Godot: Uncalled capital now totals more than $70 billion and counting; what are investors and managers waiting for?

Pension funds are having a hard time placing their money in real estate. They are nowhere near hanging themselves but, like the characters in Waiting for Godot, they are waiting, waiting for something to happen. According to 2013 Tax-Exempt Real Estate — the latest annual investor survey conducted jointly by Institutional Real Estate, Inc. (IREI) and Kingsley Associates — a whopping $72.5 billion of U.S. tax-exempt real estate investors’ money has yet to be placed.

Americas

Caution: That is the operative word for real estate during 2013

When asked what the 2013 outlook for real estate looks like, the easy option might be to say very much the same as 2012. But the reality is that it is difficult to see how this year will be significantly different from the last. The market is likely to continue to be characterized by risk aversion, the hunt for income and wealth preservation. Caution is the right way to approach real estate investment in 2013, with no imminent improvement in the economic environment anticipated.

Americas

Mexico drifts into an economic slumber

The Mexican economy had become so resurgent — with a growth rate that was outstripping Brazil — some observers took to calling it the Aztec Tiger. Unfortunately, Latin America’s second-biggest economy now seems to be losing its roar.

Americas

REITs move into single-family neighborhoods

With REITs extending into all kinds of niche real estate categories, it was just a matter of time before they rallied around single-family homes after scooping up a bonanza of low-priced houses in the tattered wake of the economic collapse.

Americas

REITs lose momentum in May

U.S. REITs underperformed the broader equity index in May, with equity REITs posting a –5.93 percent return versus the S&P 500 Index’s positive gains of 2.34 percent, according to the FTSE NAREIT U.S. REIT Index.

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