September 1, 2020: Vol. 14, Number 8
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From the Current Issue
At a crossroads: Is German real estate returning to past values or heading off to new shores?
For a long time prior to the onset of the COVID-19 crisis, there was talk of how the German economy would cope with the experience of an external shock. Now, this precise scenario has become reality — albeit in a totally unexpected manner — and its ramifications still cannot be estimated, even several months after the beginning of the lockdown. One thing, however, is already clear. The consequences of the coronavirus pandemic will occupy us for a much longer period of time than many market players would wish.
Behind the figures: Enhanced performance attribution analysis could chip away at idiosyncratic risk
What do you attribute historical periods of good portfolio performance to? Is it mainly due to sector and geographical allocation, or is it all down to asset selection — picking individual buildings with just the “right” characteristics to deliver strong returns?
The quest for certainty: Setting up defensive strategies and identifying robust megatrends in uncertain times
Entering the COVID-19 crisis, real estate market fundamentals around the world appeared largely sound. Demand was adequate to absorb the modest supply volumes in most cities and sectors.
Mixed views: How are managers responding to the challenge of pandemic cycle investing?
After four months of forced economic hibernation, societal lockdowns, staggered reopenings and pandemic relapses, the environment is now even more convoluted. Increased uncertainty may yet prompt asset allocators to re-evaluate some long-held propositions that have supported investment decisions throughout the post-GFC period. Near- and medium-term strategies will be influenced by markets, sectors and strategy type, overlaid by the perceived balance of all uncertainties and outcome probabilities.
Companies may shift towards core-and-flex office models
Agile work strategies and the need to reconfigure office space in real time could see many companies move towards “core-and-flex” office models, where businesses retain the majority of their real estate on long leases, but hold a substantial minority on flexible, short-term rental agreements.
Spanish hospitality sector set for solid recovery
Spain hospitality and leisure industries are set for a “solid recovery” that will open up a number of opportunities for real estate investors in the next 18 months.
Megafunds dominate summer activity
A number of megafunds have dominated headlines over the summer in Europe.
The changing face of manufacturing: The COVID-19 crisis is spurring supply chains towards reshoring and automation
Over the space of the first six months of 2020, the COVID-19 crisis has changed our world profoundly. Collectively, we are all trying to come to terms with an unprecedented event that continues to develop.
Reading the stats: How demographics will drive real estate investment after COVID-19
COVID-19 is shaping up to be one of those defining moments that is likely to change the behaviour of future generations. While it is too early to predict whether we will be referring specifically to the “COVID-19 generation” in the coming years, the ramifications of the pandemic on our lives and work will be felt across all demographic cohorts.