Research Reports

Rising interest rates have posed a challenge for commercial real estate in the past year. As the transaction market cooled, valuations have shown some signs of softening. Falling stock prices further affected the industry, creating a denominator problem for investors. Amidst these challenges, the global real estate industry grew by 7 percent year-over-year, according to the findings of Global Investment Managers 2023, the results of the annual survey sponsored by Property Funds Research and Institutional Real Estate, Inc. The survey received responses from 228 investment managers that represent total global real estate assets under management of $6.09 trillion (based on 2022 AUM figures), an increase from the previous year’s survey total of $5.68 trillion (based on 228 survey respondents).

Rising interest rates have posed a challenge for commercial real estate in the past year. As the transaction market cooled, valuations have shown some signs of softening. Falling stock prices further affected the industry, creating a denominator problem for investors. Amidst these challenges, the global real estate industry grew by 7 percent year-over-year, according to the findings of Global Investment Managers 2023, the results of the annual survey sponsored by Property Funds Research and Institutional Real Estate, Inc. The survey received responses from 228 investment managers that represent total global real estate assets under management of €5.57 trillion (based on 2022 AUM figures), an increase from the previous year’s survey total of €5.1 trillion (based on 228 survey respondents).

Despite the continuing adverse effects of the coronavirus pandemic on societies and economies around the world, the institutional real estate asset class and industry continued to record impressive performance and growth in 2021. In fact, the global real estate industry grew by a phenomenal 22 percent year-over-year, according to the findings of Global Investment Managers 2022, the results of the annual survey sponsored by Property Funds Research and Institutional Real Estate, Inc. The survey received responses from 228 investment managers that represent total global real estate assets under management of €5.1 trillion (based on 2021 AUM figures), a substantial increase from last year’s survey total of €4.1 trillion (based on 212 survey respondents).

Despite the continuing adverse effects of the coronavirus pandemic on societies and economies around the world, the institutional real estate asset class and industry continued to record impressive performance and growth in 2021. In fact, the global real estate industry grew by a phenomenal 22 percent year-over-year, according to the findings of Global Investment Managers 2022, the results of the annual survey sponsored by Property Funds Research and Institutional Real Estate, Inc. The survey received responses from 228 investment managers that represent total global real estate assets under management of $5.68 trillion (based on 2021 AUM figures), a substantial increase from last year’s survey total of $4.65 trillion (based on 212 survey respondents).

Urban logistics assets are generally utilised to provide the “last-mile” fulfillment for ecommerce operators. They have risen in importance due to ever-shortening delivery time expectations, as well as various new entrants to the market, such as grocery retailers. In addition to ecommerce, smaller-format units are generally favoured by traditional industrial operators as well. This has already translated into much higher rental growth for urban logistics when compared with their big-box peers. Data produced by Property Markets Analysis, shows that urban logistics rents were almost 40 percent higher in 2020 than they were in 2007 — while other logistics rents have not progressed much over the past decade.

The global real estate industry continues to reach new heights post–global financial crisis. During the past decade, the asset class has gained in popularity across the globe, delivering steady income and solid returns in the ongoing low interest-rate environment. This year's survey, which captured 2020 figures from 212 investment managers, pegged total AUM at €3.81 trillion, an impressive increase from the 2010 total of €1.25 trillion. In addition, global AUM is up 12.9 percent from €3.67 trillion reported in last year's survey. The 2020 rankings include 10 firms with AUM greater than $100 billion, compared with eight firms last year. Only five short years ago, that exclusive club numbered only two — Brookfield Asset Management and Blackstone.

The global real estate industry continues to reach new heights post–global financial crisis. During the past decade, the asset class has gained in popularity across the globe, delivering steady income and solid returns in the ongoing low-interest rate environment. This year's survey, which captured 2020 figures from 212 investment managers, pegged total AUM at $4.65 trillion, an impressive increase from the 2010 total of $1.47 trillion. In addition, global AUM is up 12.9 percent from $4.12 trillion reported in last year's survey. The 2020 rankings include 10 firms with AUM greater than $100 billion, compared with eight firms last year. Only five short years ago, that exclusive club numbered only two — Brookfield Asset Management and Blackstone.

The aggregate AUM of the top 100 real estate largest investment managers increased by 9.1 percent, totaling more than $3.83 trillion, according to Global Investment Managers 2020, the annual survey and report produced by Property Funds Research and Institutional Real Estate, Inc. For some perspective, at year-end 2008, the aggregate AUM of the top 100 investment managers totaled $1.2 trillion. A total of 207 real estate investment managers across the globe responded to the survey, representing an aggregate AUM of nearly $4.12 trillion. The top 10 largest investment managers accounted for $1.35 trillion of AUM, which represents 32.6 percent of the total. The 2020 report, based on 2019 AUM figures, showed eight investment managers with assets of more than $100 billion, up from only three in 2017. The eye opener is the fact that there are two investment managers with assets of more than $200 billion.

The aggregate AUM of the top 100 largest real estate investment managers increased by 9.1 percent, totaling more than €3.41 trillion, according to Global Investment Managers 2020, the annual survey and report produced by Property Funds Research and Institutional Real Estate, Inc. For some perspective, at year-end 2008, the aggregate AUM of the top 100 investment managers totaled €85 billion. A total of 207 real estate investment managers across the globe responded to the survey, representing an aggregate AUM of nearly €3.67 trillion. The top 10 largest investment managers accounted for €1.2 trillion of AUM, which represents 32.6 percent of the total. The 2020 report, based on 2019 AUM figures, showed four investment managers with assets of more than €100 billion, up from only three in 2017. The eye opener is the fact that there are two investment managers with assets of more than €150 billion.

The aggregate AUM of the top 100 largest real estate investment managers totals nearly $3.48 trillion, according to Global Investment Managers 2019, the annual survey and report produced by Property Funds Research and Institutional Real Estate, Inc. For some perspective, at year-end 2008, the aggregate AUM of the top 100 investment managers totaled $1.2 trillion. A total of 206 real estate investment managers across the globe responded to the survey, representing an aggregate AUM of more than $3.7 trillion. The top 10 firms in this year’s rankings totaled more than $1.2 trillion of AUM — a 6.1 percent increase from last year — a total that represents 33.5 percent of the entire survey universe. Additional evidence of a concentration of assets in this top-heavy industry: the top 20 firms account for AUM of $1.865 trillion (49.6 percent of the total universe), which is nearly as much as the other 186 investment managers in the survey ($1.892 trillion).