As the year draws to a close, it is a natural time to reflect back on the events and trends that have shaped 2010. Although many of those topics will be addressed in our newly revised and expanded Yearbook, which now comes out in March, there is one trend I’d like to draw attention to now, and that is the trend of LPs partnering up with real estate operators.
While the idea of LPs teaming up with operators for investment partnerships is nothing new, it certainly has become more common this year. Perhaps it is because LPs are looking to make more direct investments in property, or maybe it is a rebuke of the global allocator model. Whatever the reason, the operator partnership model would seem to be in vogue.
As a testament to its popularity in private real estate, this month’s issue has not one, not two but three stories on operators partnering with investors. The first is a story on MayfieldGentry Realty Advisors, which is looking to raise up to $400 million for its second fund. Zoe Hughes examines the appeal of the firm’s operator investment model and the focus of the new fund on p. 10.
Next up is a profile on GID Investment Advisors, which in October was selected to oversee CalPERS’ consolidated core multifamily portfolio. Starting on p. 14, I talk to the Boston-based operator about its investment model, its future plans and its new-found status in the private real estate world.
Then, Zoe Hughes takes you inside the world of AMB Capital Partners, the private funds arm of industrial REIT AMB Property. Guy Jaquier believes in tailoring the operator-cum-manager’s services to customers’ changing needs, and therefore it offers a dizzying array of fund structures to its investors. Read all about it, starting on p. 28.
Beyond that, this month’s issue offers not one but two roundtable. Starting on p. 40, Robin Marriott    talks to five real estate pros about the resurgent German economy and what it means for real estate there. And in the accompanying supplement, Jonathan Brasse    speaks with three local experts about developments in Asia’s real estate markets.
Lastly, in addition to being the holiday season, this is awards season. No, not the Oscars, but the 2010 Global PERE Awards. In an effort to make this the best awards yet, please submit objective nominations for as many categories as you feel you have qualified candidates. For details about nominations and voting, please visit www.perenews.com. Nominations close on December 17, so get busy!
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