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As streaming platforms race to produce original content, surging demand for sound stage space has boosted the sector’s appeal to institutional capital.
The Munich-based insurer is closer to its aim of having 10% of its private real estate assets managed on behalf of external investors within the next five years.
Institutional investors and managers are grappling with the underwriting implications of pre-covid office working practices being dumped.
PERE Asia on demand (APAC)
Real estate investment volumes dropped 34% year-on-year in the first quarter of 2020 as the region was affected earlier than the rest of the world by the pandemic
Regulators have set the draft guidance of a pilot program. But those hopeful a first batch of REITs can be rolled out in the third quarter should curb their enthusiasm.
The valuation and investor interest in the asset, which traded at a 4.4% cap rate, remained unchanged despite being marketed during the pandemic.
Office complex in Paris
The €150m separate account awarded to manager AEW kicked off last week in Paris with the purchase of a 37,000-square-foot office for €50m.
The vehicle is only the second to be managed by the San Francisco-based logistics giant in the country.
After a lofty point in the investment cycle saw the definition of prime real estate become flexible, investors are now unwilling to tolerate extra risk without additional rewards.
A logistics center
The firm offered virtual site visits to investors via video for the first time after travel was restricted in China due to the covid-19 outbreak.
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