Institutional Real Estate Americas

July 1, 2016: Vol. 28, Number 7

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From the Current Issue


On balance: New accounting standards require leases be recorded on balance sheets, which has implications for real estate owners

The Financial Accounting Standards Board earlier this year issued a new accounting standard for the treatment of leases under Generally Accepted Accounting Principles, or GAAP. The International Accounting Standards Board did the same for International Financial Reporting Standards, or IFRS. When the change takes effect, every lease will need to be recorded on balance sheets.


Positive signs in the near term: It may be time to temper optimism with caution

Real estate’s recent strong performance has been due to a sustained period of slowly improving occupier market fundamentals during the long, drawn-out, bumpy economic recovery that followed the global financial crisis. With many investors hungry for recurrent income, real estate’s ability to provide it has made the asset class a focus of attention


The Asian Century: Five trends position the Asia Pacific region as the world

Asia Pacific today is home to 60 percent of the world’s population and accounts for nearly two-thirds of global economic growth. At a combined nominal GDP of $25.5 trillion in 2015 — 42 percent higher than the United States’ and expected to grow about twice as fast during the next five years (5.4 percent to 5.7 percent per year, as projected by the International Monetary Fund) — the region’s collective economy is simply too big to ignore.


Apartment market levels off

The apartment market may be reaching a peak, with signs of a slowdown, or at least a flattening, in many major markets, such as New York City and San Francisco, where apartment owners previously had a license to print money.


Real estate fund managers consolidate AUM

The big get bigger. That’s the message of the Fund Manager Survey 2016 by the National Council of Real Estate Investment Fiduciaries, in collaboration with the European Association for Investors in Non-Listed Real Estate Vehicles and the Asian Association for Investors in Non-Listed Real Estate Vehicles.


Prime logistics rents increase globally

Global prime logistics rents are on the rise because of voracious demand from e-commerce fulfillment and distribution centers, according to CBRE Group’s inaugural Global Prime Logistics Rents report. Prime logistics rents increased 2.8 percent year-over-year globally in 2015, led by double-digit percentage gains in U.S. coastal markets.


Debt funds continue to succeed

In the first five months of 2016, the percentage of debt-only and debt-plus-equity funds have increased their share of the market compared with 2015, according to Institutional Real Estate, Inc.’s FundTracker database. The ratio of debt funds to equity had been falling since 2013, but we might be seeing the beginning of a reversal in that trend line.


May employment growth misses target

The United States added 38,000 jobs in May, according to the Bureau of Labor Statistics, well below the expected increase of approximately 160,000 jobs. In addition, job gains during March and April were revised downward by a combined total of about 59,000 jobs.

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