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Friday Letter

Is co-working having its ‘Emperor’s new clothes’ moment?

SoftBank’s interest in WeWork has waned, prompting questions about what the value is in co-working businesses.

PERE’s fateful eight 

In our concluding Friday Letter for the year, we make eight predictions about private real estate capital formation and deployment in 2019, including: dropping fundraising, moderating investing volumes and shifting of geographic focuses.

Behind the 10 most-read stories in 2018

 Capital raising’s elite, the biggest managers by five-year fundraising totals and the people of sector giant Blackstone topped out PERE’s big reads this year.  

Currency costs are alienating the US for Korean investors

Rising hedging costs have diminished appetite for American real estate in favor of European.

Insurance is too short term to meet climate change’s resiliency challenge

The name of the private real estate game is creating core assets, so managers of closed-end strategies must plot investments for real estate that outlast the lives of their vehicles.

JPMorgan’s ODCE heavyweight will reach $60bn – eventually

It is a particularly difficult time for international capital to access US real estate right now. Beyond a protectionist government, rising interest rates and an increasingly unfavorable currency, the US market is cyclically topping out. JLL reported US investment totaled $341.2 billion in the first three quarters of the year, 14.2 percent higher than the […]

Politics schmolitics, reinvention is more important to private real estate

Not for the first time, a major political event was overshadowed at one of PERE’s regional summits by discussions around driving efficiencies through market cycles.

EXPO Real: Private real estate plows on with no downturn in sight

With a consensus opinion of further growth, this year’s EXPO Real conference in Munich shone a spotlight on a market benefiting from higher levels of investment, new entrants and more innovation. Here are PERE's top 10 takeaways

CBRE GIP was not the most important of GPIF’s two real estate hires 

The $1.4trn pension fund’s appointment of Asset Management One as gatekeeper underscores the crucial role intermediaries will play matching Japanese capital with Western managers.

Niche property lending requires different pros-cons considerations

Lending to a singular alternative real estate sector means a firm must be ready to underwrite a property type’s unique risk and demonstrate specialist expertise.

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