Institutional Real Estate Americas

October 1, 2021: Vol. 33, Number 9

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From the Current Issue

Americas

Going up: Can institutional property outstrip inflation after the pandemic?

That global central banks ran printing presses hot to counter the macroeconomic impact of the COVID-19 pandemic is little disputed, nor that numerous supply and labor bottlenecks have tightened since. Anyone who has glanced at an economics textbook or scanned the daily business press knows the potential consequences of printing money into a tenacious pandemic: […]

Americas

Hitting the mark: Demand for better representation of niche assets in benchmarks continues to grow, but delivering accurate sampling remains some way off

Real estate benchmarking has been dogged by problems since its very inception. Investors have commonly bemoaned a lack of transparency, sample degradation created by market changes, the ineffectiveness of risk measures and the rate at which data is updated — particularly when compared with benchmarks in other asset classes. These problems were encapsulated in a […]

Americas

Summer vacation: The pace of travel may decrease amid the spreading Delta variant, but hotel CEOs remain optimistic

The pent-up demand from U.S. travelers, as well as the easing of travel and other restrictions, has allowed for renewed interest in travel and tourism, with families embarking on long-delayed trips, and businesses scheduling in-person meetings again. The U.S. hotel industry’s occupancy levels in June were the highest recorded since October 2019, reaching 66.1 percent, […]

Americas

Valuation trends: Institutional real estate in a post-COVID era

The COVID-19 pandemic had disparate effects on the U.S. institutional real estate market from first quarter 2020 through second quarter 2021 — the post-COVID era. A review of the six-quarter period, using data from NCREIF, finds property values varied considerably by property type during this unusual period. The clear winners include the industrial property sector, […]

Americas

The trouble with incentives: Alignment is as alignment does

It’s easy to claim you are engaged in aligning interests between investors and investment managers. It’s another thing entirely to actually do something that aligns those interests. To be clear, connecting people with similar interests is not the same thing as aligning those interests. Take an investor with an interest in increasing his or her […]

Americas

In Canada, real estate performance varies by property type

Commercial real estate investment performance in Canada diverges among major property types, reports Manulife Investment Management in its second-quarter Canadian commercial real estate review and outlook. According to Manulife, the industrial and multifamily sectors have shown resilience in transaction activity and are “more or less proven to be pandemic proof, the major drivers being a […]

Americas

Amid pandemic, buildings’ carbon emissions fall 12.4%

An annual report from the ULI Greenprint Center for Building Performance found an approximately 12.4 percent reduction in carbon emissions in 2020 compared with an average fall of 3.5 percent in previous years. In addition, the report found real estate owners took advantage of reduced occupancy during the pandemic to double the implementation of energy […]

Americas

Job growth slows in August

Total nonfarm payroll employment in the United States increased by 235,000 jobs in August, well below the average monthly job growth so far in 2021 of 586,000 jobs, according to the Bureau of Labor Statistics. In addition, the unemployment rate declined to 5.2 percent. Despite the slower pace in August, total employment in June and […]

Americas

Q2 2021 fundraising down 59% from year-ago period

At this time last year, readers of this publication were marveling at the fundraising total recorded during second quarter 2020; 37 funds registered final closings totaling $45.3 billion, the fourth-highest quarterly total ever recorded in Institutional Real Estate, Inc.’s 15-year data series. Fast-forward to second quarter 2021, and the fundraising picture was pretty much turned […]

Americas

DEI benchmarking for the commercial real estate investment industry

The real estate industry’s efforts to promote diversity, equity and inclusion have taken a step forward as seven industry organizations — ANREV, INREV, NAREIM, NCREIF, PREA, REALPAC and ULI — have come together to support and expand the Global Real Estate DEI Survey, providing metrics related to gender, ethnicity and nationality at commercial real estate […]

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