November 2015 Issue


    Month: November
    Year: 2015

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    US Roundtable: View from the top

    Creating alpha in the lofty part of the US real estate cycle is far from simple, but investors are finding multiple ways to do it.  

    DECONSTRUCTED: Treat this imposter just the same

    When a certain Japanese ‘KKR’ asks to take a look at your investment strategy, fund managers would be wise to show them.

    COMMENTARY: Time for an upgrade

    With many in the industry still using outdated technology, private equity real estate firms may have hard time keeping up with investor demands, says Rick Schwartz, senior vice president at Argus Software, an Altus Group subsidiary.

    INTERVIEW: Supporting act

    Hodes Weill, which has helped to raise capital for some of the best known real estate investment managers over the years, is now seeking to provide capital to the managers themselves.

    ASIA GUEST COMMENTARY: Stay close, stay consistent, do homework

    In order for non-Asian sovereign wealth funds to succeed in the region’s private real estate marketplace, three rules should be followed, writes Ruslan Alakbarov, head of real estate at the State Oil Fund of the Republic of Azerbaijan.  

    PEOPLE: Slow road to $2bn

    TPG spent more than 18 months gathering commitments for its maiden commingled fund.

    EDITOR LETTER: Seeing what sticks

    Throw enough mud at the wall, some of it will stick. The old phrase resonates in today’s private real estate marketplace if some of the things we saw in the last month are anything to go by.

    DEALS: Sharing the spoils

    Brookfield is understood to be syndicating some of the equity in its €1.4 billion capture of a trophy portfolio in Berlin’s Potsdamer Platz.

    If These Walls Could Talk: Seoul’s barometer transaction

    Given its occupational and political issues, the sale of AIG Real Estate’s International Finance Center in Seoul constitutes something of a litmus test for the Korean market.  

    DECONSTRUCTED: Office opulence

    Gold toilets, a marble staircase and restaurant dining are available at a newly refurbished office in the heart of London’s West End – if you can afford it

    NEWS ANALYSIS: Niche no more

    A recent merger involving two private equity real estate firms is part of a larger drive to make single-family rentals less of a niche industry.

    SPECIAL REPORT: Messe en masse

    It was a case of more money, more problems, according to sector practitioners PERE caught up with last month at the annual EXPO REAL conference in Munich. And yet a throng of capital is still wanting in.

    RESEARCH & ANALYTICS: Looking beyond targets

    With private equity real estate funds increasingly hitting their capital raising targets, there are micro-trends to examine within that success.

    PEOPLE: Man of the moment: David Pahl

    The longtime Prudential executive is expanding GTIS’ forays into commercial real estate with European investors.

    PEOPLE: Man of the moment: Francois Trausch

    The Asia-Pacific CEO of GE Capital Real Estate will be leading the real estate arm of German insurance powerhouse Allianz next year.

    GUEST COMMENTARY: Late cycle investing

    Investors have been wary of real estate reaching a market zenith, but they need to understand that there is not one real estate cycle, but three, says Jacques Gordon, global strategist at LaSalle Investment Management

    DEALS: It’s complicated

    Ping An’s new logistics joint venture shows that first-time investors in the US aren’t shying away from complex deals.

    DEALS: Going logistic

    To get its latest fund over the line, Peakside Capital needed to revise its geographical purview.

    FUNDS: Geography revision

    To get its latest fund over the line, Peakside Capital needed to revise its geographical purview.

    NEWS ANALYSIS: Finding your angle

    It’s become much harder nowadays to invest in European core real estate using a straightforward approach. One needs to come up with an angle.

    DECONSTRUCTED: Dealing in singles

    A group of veteran executives is reportedly launching the world’s first securities exchange dedicated to trading stakes in single commercial property assets

    DEALS: Different type of parent

    The Townsend Group’s new majority owner signals a new direction for the Cleveland, Ohio-based real assets consulting firm.

    BLUEPRINT: Curse of charisma

    Despite a growing reputation for successfully investing his RECAP opportunity funds via an array of unorthodox strategies, Thai-entrepreneur Suchad Chiaranussati tells PERE’s Arshiya Khullar he’s keen to demonstrate his firm’s conservative side.  

    ASIA VIEW: The selling season

    What’s driving the unusually high number of direct property sales and portfolio exits in Australia? It’s not what you expect.  

    ASIA NEWS: Putting the brakes on

    China’s economic woes are starting to stem the flow of outbound property investments from the country  

    ASIA NEWS: Doubling down on logistics

    With its latest property vehicle, the Singapore-based logistics fund manager is betting on rising investor demand for industrial properties in Japan  

    ASIA NEWS: Against the current

    About €700 million in commitments from Germany’s BVK have come at a low point for Asian capital raising