Institutional Real Estate Americas

March 1, 2015: Vol. 27, Number 3

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From the Current Issue


Story time: A tale of growth, volatility and risk-adjusted return

An important principle in finance is arbitrage, the tendency for capital to flow in the direction of higher risk-adjusted returns so that in equilibrium, when the flows stop, expected risk-adjusted returns are the same across all assets, including U.S. Treasuries, core real estate and development. 


Chinese, Turkish cities rank as world's fastest growing

Real estate investors are forever looking for fast-growth markets to give them a tide that will lift their boats. A joint study from the Brookings Institution and J.P. Morgan Chase indicates that investors would do well to point those vessels toward China and Turkey.


Secondary market for real estate nears $5b

Second-hand real estate is finally dealing a hot hand. After years of prophecies that vintage real estate investments would become a brisk trade, the secondary market for global real estate closed an estimated $4.8 billion in transactions during 2014. 


Do the math and a $15b fund might be in the offing

The Blackstone Group is apparently well on its way to raising the industry’s first fund with a $13 billion equity target. After less than a month of official fundraising, BREP VIII is reportedly ready to hold its first close with $10 billion of commitments. 


Asian investors ready to up the ante for real estate

Investors are likely to see more forks than ever clashing over the global real estate pie, as some 60 percent of Asian investors expect to take a bigger slice in the coming years, targeting an average increase in real estate allocation from 9.8 percent to 11.0 percent. 


2014 proves to be year of the mega-fund

Only 27 private equity real estate funds recorded final closings during fourth quarter 2014 — four funds short of the number closed during fourth quarter 2013. And what the group lacked in number of funds, it made up for in fundraising volume.


Data centers' Latin accent: Powerhouse computing facilities are adding up to billions in South American investment

As Latin America is still perceived as part of the developing world, its expected high economic growth holds a magnetic attraction for deep-pocketed outside investors seeking outsized returns with opportunistic plays. And, as professionals tracking expansion of the region’s data center business are keen to point out, demand for the sector’s facilities and services has clearly been outpacing supply, engendering potentially lucrative opportunities to fill corresponding voids. 


Gateways to the Americas: Investment experts expound on what makes Mexico City, New York City, Sao Paulo and Toronto great metropolises

During the recent Visions, Insights & Perspectives – Americas conference, produced by Institutional Real Estate, Inc., 30-year institutional real estate veteran Joanne Douvas moderated a panel discussion about the Americas’ great gateway cities, focusing on what makes those cities great and the opportunities they currently offer for real estate investors.


Institutional real estate returns 12% during 2014

The NCREIF Property Index ended 2014 with an 11.82 percent return for the year, with double-digit returns for all sectors. The strong returns reflect improving fundamentals for the commercial real estate market combined with cap rates continuing to stay at historically low levels. 

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