May 2017 Issue
STATESIDE: The other costs of sale
Real estate managers looking to offload equity in their management companies to an outside investor must be mindful of the challenges this will bring.
EUROZONE: Still an opportunistic darling
A raft of core players has entered the Spanish market in recent months, but the country remains the playground for opportunistic investors.
AMERICAS NEWS: Starwood’s take-private anomaly
The alternatives giant’s privatization is likely to be a rarity in 2017.
AMERICAS NEWS: Passing the baton
Clarion Partners’ chairman and chief executive Steve Furnary has named Dave Gilbert as new CEO. Here are six things to know about the decision.
ASIAVIEW: Pivot to Asia
Spurred by economic and political worries in other markets, many Asian investors are focusing on investing closer to home.
EUROPE NEWS: P3’s new outlook
Acquired in one of 2016’s biggest European property deals, P3 Logistic Parks says its approach to investing has changed post-takeover.
IF THESE WALLS: Next came the politics
The collapse of a deal to redevelop Manhattan’s 666 Fifth Avenue is the latest episode to bedevil the 41-story office.
ASIA NEWS: Investa’s chronicle
The board at the Investa Office Fund is again reviewing its options amid fresh takeover talks for the A$3.6bn Australian platform.
GUEST COMMENT: Juggling amid the turbulence
Staying on-mission while engaging policymakers is the challenge for sector associations during times of political uncertainty, writes Marieke van Kamp, the new chairwoman of private real estate sector association INREV
AMERICAS NEWS: Headwinds for EB-5
While the popular US program continues to attract record sums of Chinese capital, it is becoming harder to get money out of China.
ASIA GUEST COMMENTARY: Going against the grain
M&G Real Estate’s head of research for Asia Jonathan Hsu on investing against the cycle.
Asia News: Fund of funds first
Japan’s GPIF looks set to make its first real estate investment through funds of funds as team size and regulations complicate its foray into the sector.
BLUEPRINT: Global ambitions
Patrizia Immobilien’s real estate assets under management have grown from €2.7bn to €18.6bn in just six years. In a rare interview, Wolfgang Egger, who founded the business at just 19, tells Jamie Henderson his firm is by no means finished growing
EUROPE NEWS: CarVal quartet’s new dawn
CarVal Investors’ Robert Balick is one of four partners fronting a new pan-European real estate business after a spin out.
SPECIAL REPORT: CalPERS’ deployment challenge
America’s biggest pension fund is finding it difficult to deploy capital from its mountainous resources thanks to high prices, competition for deals and a reluctance to increase risk, Paul Mouchakkaa, the managing investment director charged with leading the real assets investing operation of the California Public Employees’ Retirement System, told the PERE Global Investor Forum: Los Angeles.
AMERICAS NEWS: BVK ramps up Stateside
Germany’s largest public pension fund handed a €750m mandate to USAA Real Estate Company in the first of four specialized US mandates.
ASIA NEWS: Betting on Indian retail
CPPIB’s partnership with a Mumbai-based property developer is a compelling strategy.
EDITOR'S LETTER: A comeback worthy of acknowledgement
Be honest, who rang the death knell for Morgan Stanley Real Estate Investing’s opportunistic funds business after the global financial crisis?
AMERICAS GC: A key driver gets tougher to read
The job market is a major indicator of the state of the US commercial real estate industry, but uncertainty over policy changes means it is difficult to make an assessment, says Petra Durnin, Southern California director of research and analytics at CBRE.