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  • pere july 2017 cover

    July 2017 Issue

    Regulars
    An industry in flux

    Whether it be organizational shakeups, a changing client base or increasing competition, the real estate consulting world is going through tumultuous times.

    Readying a hit

    Brookfield is raising the largest private equity real estate fund in market.

    In this issue
    Mega-trends matter, so don’t ignore them

    Property investors and asset managers are only beginning to incorporate demographic and environmental factors into their underwriting, says Paul Guest, lead strategist for real estate and private markets at UBS Asset Management.

     

    Cold storage heats up

    After a spate of refrigerated logistics deals, Thomas Duffell dissects Asia-Pacific’s latest institutional-grade property investment class.

     

    A challenging transition

    Chinese developers are again attempting to get into the manager space, but they need to avoid mistakes of the past to ensure success.

     

    Hedgies sound the death knell

    Short-selling hedge funds have been making bearish bets on US mall REITs, but some private equity firms view the opportunity in a different way.

    Investing in tomorrow’s tech hubs

    STEM job growth has become a key driver of real estate demand in the US, but looking beyond the established markets can pay off, writes Adam Ruggiero, head of real estate research for MetLife Investment Management.

    The rightful heir

    Australia Post’s planned sale of Sydney’s General Post Office is mired in controversy over its choice of new owner.

    EUROPE NEWS: Carlyle’s European reboot

    After picking up a portfolio of French logistics assets from Prologis last month, Carlyle has returned to the European market.

    What comes around

    A portfolio of single-family rental homes has come full circle via Colony Starwood’s planned purchase of a 3,106-home portfolio from San Francisco-based alternatives investor GI Partners for $815 million.

    EUROPE NEWS: The Jurys out

    EUROPE NEWS: The Jurys out Jamie 2017-07-01 Henderson Dallas-based private equity giant Lone Star Funds is continuing its recent strategy of offloading European assets, following last month’s news that it was seeking to dispose of a portfolio of 42 hotels, comprising six Hilton and 36 Jurys I

    EUROPE GUEST COMMENTARY: Finding higher returns in a core market

    Even at this advanced stage of the real estate cycle, a value-add investor can perform well in Europe’s core markets, writes Thomas Mueller, fund manager at BlackRock

    Goldman loses in Las Vegas

    The investment bank is selling ACEP for less than it paid for it.

    EUROPE NEWS: Woman of the moment: Trish Barrigan

    The managing partner of Benson Elliot talks about replacing one of the industry’s most famous names. 

    EUROZONE: Stalking horses

    Blackstone’s $12.25bn sale of Logicor to CIC could be the latest example of IPOs being used to drum up business for a sale.

    India’s crude healthcare sector

    A first dedicated healthcare fund has been launched as government support builds.

     

    Bharat gold

    India tops sovereign wealth funds’ emerging markets wish-lists.

     

    China’s new capital

    Local asset managers have become active participants in China’s real estate market, amid growing signs of stability in the domestic economy and capital controls. Arshiya Khullar finds out how the industry is responding to the new competition

     

    Listed opportunity

    The time is right for two major private equity firms to be taking their real estate debt platforms public.

    Potentially short changed

    We know subscription credit lines can boost IRRs and dampen money multiples, but what does that look like in practice? Advisory firm TorreyCove Capital Partners models it out

    Of chief concern

    With private real estate markets reaching cyclical peaks and institutional appetite for the asset class remaining unabated it is becoming increasingly difficult for the biggest managers in the sector to put capital to work. PERE’s Jonathan Brasse and Jamie Henderson visited the leaders at one such steward, AEW, to discuss the issue

    Editors Letter
    July
    pere july 2017 supplement

    Investing in Retail