Although the theme of the fall 2006 PREA conference was “Back to Basics,” delegates found the current state of the real estate industry anything but. By Alison Granito
In the mid-1990s, Chicago-based Heitman became one of the first major property players to invest in Central Europe. The firm formed a JV in 1996 to develop the Warsaw Financial Center, a 32-story office building that was the tallest building in Eastern Europe. In 2000, the firm launched Heitman Central Europe Property Partners to focus on Poland and the Czech Republic, which closed on $125 million. Slovakia and Hungary were added to the mandate for the second fund, which closed on €175 million in 2002. By the time Heitman launched its third vehicle on €350 million in 2005, it was also looking for opportunities in Estonia, Latvia, Lithuania, Slovenia, Romania and Bulgaria. Otis Spencer, the firm's Warsaw-based portfolio manager, spoke with PERE about the evolution of Heitman's strategy in the region and where the firm is looking for value as competition grows.
As Romania and Bulgaria gear up for EU accession, their real estate markets are becoming increasingly active, but that doesn't mean a shortage of risks. By Aaron Lovell
A social phenomenon is taking place in Poland as residents trade up from Soviet-style homes to Western apartments. Private equity real estate investors are following the trend, in Warsaw and beyond. By Robin Marriott
After seven years running Doughty Hanson's real estate arm Marc Mogull left last year to set up his own firm, Benson Elliot. Here the 20-year industry veteran discusses his family ties to the business, his long career in Europe and why he doesn't like talking to the press. By Robin Marriott
China's explosive economic growth has led to some amazing real estate projects. But what happens if the bubble bursts? By Aaron Lovell
The global real estate investment manager has bought a minority stake in the ports business of private UK property group Peel Holdings.
Hiring Desmond Taljaard has stoked talks of Starwood launching a takeover of the publicly traded UK leisure group.
To encourage foreign investment in their burgeoning property markets, government ministers from both the Ukraine and India paid a visit to London last month. Will the positive spin work? By Robin Marriott
The Four Seasons hotel chain, one of the last publicly traded luxury hotel brands, will likely find itself under very wealthy new ownership.