Institutional Real Estate Americas

March 1, 2016: Vol. 28, Number 3

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From the Current Issue

Americas

On a mission: For religious institutions, ESG investing is more than a catchphrase

Religious organization pensions and endowments walk a fine line between the capitalist pursuit of an adequate return on investment and the need to stay true to a group’s calling. This two-pronged approach to investing can be accomplished fairly easily when investing in equities and corporate bonds; it’s a little more difficult in the world of commercial real estate investment.

 

Americas

Shop talk: A conversation with Paul Buckley and Caroline James

Foreign investors in U.S. real estate have been stymied by the Foreign Investment in Real Property Tax Act, or FIRPTA, since 1980. At the end of 2015, changes to the law were introduced that could significantly affect U.S. property markets. Paul Buckley and Caroline James of First Avenue Partners recently spoke with the editor of Institutional Real Estate Americas on the implications for U.S. and non-U.S. investors.

Americas

Turning points: The world as we see it

We are facing a period of inflection points. Everyone is focusing on the short term, but looking longer term, the future will be quite different from the past. Each year at Institutional Real Estate, Inc.’s Vision, Insights & Perspectives – Americas conference, I present some of the key factors affecting the world as we see it; these are a few of the ones you should be watching.

Americas

Airbnb users spent $2.4b on U.S. lodging in 2015

Airbnb Inc.’s presence in key markets throughout the United States is growing at a rapid pace, with users spending $2.4 billion on lodging in the United States over the past year, according to analysis of the room-sharing company from CBRE Hotels’ Americas Research.

Americas

Pension to commit $1.3b to emerging-manager program

Emerging-manager programs continue to attract investor interest. The $134 billion Teacher Retirement System of Texas, for example, recently announced a $1.3 billion commitment to its emerging-managers program over the next three years.

Americas

Real estate is important store of wealth, globally

The total value of all developed real estate on the globe reached $217 trillion in 2015, according to Savills’ annual Around the World in Dollars and Cents. The value of global property in 2015 amounted to 2.7 times the world’s GDP, making up roughly 60 percent of mainstream global assets and representing an important store of national, corporate and individual wealth.

Americas

Canadian property returns 8% in 2015

Commercial property in Canada had a total return of 8.0 percent in 2015, according to the REALpac/IPD Canada Quarterly Property Index, up from 7.3 percent in the previous year.

Americas

China’s economy is slowing, but global impact may be small

The current narrative states 2016 is off to a turbulent start in terms of the global economy. Oil prices are low, and a slowdown in China’s growth rate means bad news for everyone. But perhaps China’s economy will not be as big of a problem as everyone thinks, according to Standard & Poor’s.

Americas

Australian office tower changes hands

CBRE Global Investors has gone Down Under on behalf of a German client, acquiring the South Wharf Tower in Melbourne, Australia. The 225,000-square-foot office building, completed in 2009, represents CBRE Global Investors’ first direct property purchase in Australia.

Americas

Transaction analysis: Big gains in volume

Transaction volume in North America was up significantly in fourth quarter 2015, year-over-year, with a total of $149 billion in sales activity for commercial properties and portfolios $10 million and greater, according to Real Capital Analytics.

Americas

Trends for funds closed in 2015

According to Institutional Real Estate, Inc.’s FundTracker database, 122 funds raising $101.5 billion in aggregate closed in 2015, versus 120 funds that raised $88 billion in 2014.

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