Institutional Real Estate Europe

September 1, 2012: Vol. 6, Number 8

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From the Current Issue

Europe

A Strong Case: Investors Should Look Beyond Short-Term Events and Consider the Reasoning for Raising Their Exposure to Real Estate

Arguably, the economic context for institutional investment has never been more uncertain. This is particularly the case in Europe, where the euro zone sovereign debt crisis overlays substantial additional risk. Normally, an illiquid asset such as real estate would be out of favour under such circumstances, with investors looking for highly liquid assets to maintain flexibility. Yet the underlying qualities of real estate mean that in many ways it is well suited to cope with today’s volatile economic environment.

Europe

An Unstable World: Real Estate Investors Seeking Comfort in these Volatile Times Need to Know and Understand their Investment Managers Better

Today's economic environment — which presents an acute problem for pension funds that are squeezed between low and falling asset returns and higher and increasing liabilities — calls for rethinking, or at least challenging, the way in which some pension funds approach real estate investment. This short article is intended to be a bit provocative and to challenge some of the common wisdom.

 

Europe

Catering for Demand: Turkey Is an Attractive Market for Domestic and International Retailers and for Providers of Modern Retail Space

In Part 2 of this article on Turkey, the authors discuss how favourable demographic and economic trends have resulted in growth in consumer spending and widespread real estate development, particularly in the retail sector and the shopping centre subsector. Part 1, in the July/August 2012 issue, looked at the country’s macroeconomic and political environment.

Europe

IPD Global Cities Update: Seeking Safe Havens

Many major global markets have now recovered to pre-recession levels, particularly those cities with commodity-driven economies. Canada’s energy boom has spurred capital value appreciation in Toronto and Vancouver above other North American markets.

Europe

Through the Slack: After a Temporary Slowdown, German Open-End Property Funds Are Picking Up Speed Again

This is what happened to German open-end property funds — a favoured long-term investment vehicle for conservative, prudent German retail investors — which went through a period of heady returns in the first part of the 2000s; which saw high inflows of new monies from both retail and institutional investors seeking those returns; and which then experienced a rush for the door when the market turned, from both the long-established and the newer investors.

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