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Gillian Chee was only brought on board in May to help launch the firm’s first  open-ended core fund in Asia.
Australia recorded $8.4bn worth of property transaction volumes in Q2 2019 amid an overall slowdown across Asia-Pacific, according to data published by Real Capital Analytics.
Stuart Sziklas will join the firm as head of US custom accounts on September 3, and will lead the portfolio managers overseeing $10 billion across the firm’s separately managed accounts.
The global real estate manager said while tenant bankruptcies have resulted in a $150m loss since 2018, it has a plan to reposition its retail portfolio with more resilient tenants.
The risk of currency volatility adds to already low yields, outweighing the rewards that some investors seek from the country.
World
Growth in the global real estate market was muted across almost all countries in 2018 because of currencies depreciating against the US dollar, according to a July report by MSCI.
To successfully navigate the reefs of high core valuations, an opportunistic anchor is the best fit, argues Cyril Demaria, head of private markets, Wellershoff & Partners
The world’s largest pension fund is expected to engage in overseas real estate through more investment strategies and structures.
Lackluster returns and growing competition have the Swiss bank’s UBS Trumbull Property Trust suffering the sector’s biggest investor exodus.
Former Patrizia Multi Managers associate director Jakob Kaer Nielsen will oversee the $76bn pension’s foreign real estate portfolio.
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