Institutional Real Estate Europe

November 1, 2014: Vol. 8, Number 10

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From the Current Issue

Europe

SWFs catch the fever: Sovereign wealth funds are boosting their real estate commitments

More than two-thirds of the world’s sovereign wealth funds have increased investments in real estate during the past 12 months as they shift from volatile equities and low-yielding bonds to alternatives that offer higher returns. With a technically unlimited time horizon on their investment commitments and a willingness to accept lower yields, the implications for other real estate investors could be significant.

Europe

Therein lies the rub: Real estate markets continue to have issues

Three of the topics that persistently come up at our Editorial Advisory Board meetings are “performance measurement,” “valuation” and “transparency”. This past board meeting for The Letter – Europe, conducted during the week ending 19 September at Powerscourt near Dublin, was no exception.

Europe

Optimistic investment outlook for Europe

200 investors at Knight Frank’s European Breakfast on 17 September heard that investment volumes across Europe are set to increase further, despite a mixed economic picture. The case for European property remains strong, the firm says, with rental growth and yield improvement forecast in key cities across the continent.

Europe

Market Focus: Genoa, Italy

Genoa is the capital city of Liguria, one of the smallest regions of Italy, located in the north of the country. The Genoa investment market is currently facing a misalignment between vendor and buyer pricing expectations, resulting in a slowdown in the market and a lengthening in the time needed to close transactions.

Europe

It takes all sorts: Navigating commercial real estate finance in a post-GFC world

On 15 October 2008, the failure of Lehman Bros forever changed the financial landscape. With Lehman’s failure and the onset of the global financial crisis came a nearly complete retrenchment of liquidity in the commercial real estate market. Then a funny thing happened. Governments around the globe flooded the economy with free money, lowering rates, buying assets (toxic or otherwise) and making promises of doing “whatever it takes” to keep global financial markets afloat.

Europe

A cold and dark forecast: Global warming may be coming but there is little evidence of it in central and eastern Europe

Following a period of recessions and extremely weak growth, emerging Europe seems to be experiencing a recovery. The weather in the market across central and eastern Europe is still unstable, but rather pleasant. The region’s economic forecasts for 2014 look a lot like its weather forecasts. It is clear that the continuing confrontation between Russia and Ukraine is inflicting severe pain not only on both economies — and their people — but is also derailing further recovery in eastern Europe and the countries of the former Soviet Union.

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