December / January 2015 Issue
BLUEPRINT: Wide and deep
Och-Ziff Real Estate is an opportunistic real estate investing business with a somewhat distinctive set of principals. Jonathan Brasse visited the firm’s head Steve Orbuch and members of his team to hear its philosophies first-hand.
AMERICAS NEWS: Time for a recap
In its 33-year history, Clarion Partners has gone through multiple changes in its ownership structure. Now it is poised for another.
AMERICAS NEWS: The perfect storm
Brazil’s property market is feeling the pain from the country’s political and economic woes, but that doesn’t mean distressed opportunities are easy to come by.
ROUNDTABLE: The new normal
Investors coming to invest in Asia are taking a cautious view of both macro and market risks and are altering their investment strategies in accordance.
IF THESE WALLS COULD TALK: The lips are sealed
New York’s Lipstick Building, infamous for housing Bernie Madoff’s 2008 Ponzi scheme and one of the city’s most unusual art shows, changes hands again in the latest in a long line of real estate flips.
SPECIAL REPORT: The long road to green growth
Sustainability measures have taken a backseat for real estate funds with investors split on their importance. As a consequence, sustainability advocates are working hard to quantify the benefits.
INVESTORS: The Eastern sea change
European real estate is seeing ever greater interest from large pools of Asian capital as major Middle Eastern backers are shying away, delegates at PERE’s Global Investor Forum: Amsterdam heard in October.
STATESIDE: Open for inspection
Manager due diligence is nothing new. But two recent events suggest that investors need to make it a greater priority than before.
DECONSTRUCTED: Property’s poker face
Real estate professionals invited to Palmer Capital’s inaugural charity poker tournament last month found themselves playing for the highest stakes of all – bragging rights.
ALTERNATIVES: LimeTree’s car parks bet
One of China’s largest car park funds has acquired a majority stake in a car park manager.
SPECIAL REPORT: India’s separation anxiety
The separation between the founders of one of India’s prominent private equity real estate firms has ramifications beyond the individuals.
CONFERENCE: Gray, you’re up
Jonathan Gray, Blackstone’s global head of real estate, took to PERE’s New York stage to participate in a unique Q&A session
DEALS: Gaw-dropping development
The Hong Kong-based firm continues its London shopping spree with an office acquisition in the city’s West End.
FUNDRAISING: Five Alive
With its upcoming fund, LaSalle is banking on increased investor support for its Asia opportunistic strategy.
CURRENT EVENTS: Defying the threat
Despite last month’s devastating attacks in Paris, and the growing threat of global terrorism, real estate investment in Europe continues unabated.
GUEST COMMENTARY: Demystifying Denmark
The Nordic countries have earned a reputation as an attractive target for real estate investment. But while Sweden dominates, Denmark should not be overlooked, says Jacob Kjær, head of Denmark at Leimdörfer, part of Brunswick Real Estate.
EDITOR'S LETTER: Cheers but don’t relax
Cheers but don’t relax Jonathan 2015-12-01 Brasse Winding down for the holidays? Not likely. The likelihood is, whether investment manager, investor or advisor, you have more rather than less work to do today than you had at the start of 2015. If you’re a manager, you may be stepping up yo
FUNDRAISING: Breaking out of China
The strategy outlined for Gaw’s latest Asia opportunity fund highlights its active focus on outbound investment.
EUROZONE: Beware the B team
Investors fear that as more property fund managers are successful in raising commingled funds, they will spend less time, effort and commitment on their separate account mandates.
GUEST COMMENTARY: A Simplex plan
After participating in Japan’s biggest property privatization just before the GFC, a combination of smart choices, hard work and a little luck saw Aetos Capital Real Estate rescue returns for its investors. A month after exiting, CEO Scott Kelley anatomizes its investment in Simplex Investment Advisors.
DEALS: A landmark of one’s own
The acquisition of a new headquarters building by China Life is indicative of a growing trend in Hong Kong’s office sector.
AMERICAS GUEST COMMENTARY: Don’t forget the little guy
The consolidation of real estate capital around a handful of large managers has been both troubling and encouraging for the industry’s small and emerging firms, says Larissa Herczeg, managing partner at Oak Street Real Estate Capital