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The industry would be better served if performance was unbundled from the effects of leverage, argues Joseph L. Pagliari, Jr., clinical professor of real estate at the University of Chicago Booth School of Business.
The valuation and investor interest in the asset, which traded at a 4.4% cap rate, remained unchanged despite being marketed during the pandemic.
Global markets
Launched by ANREV, INREV and NCREIF last month, the tool is intended to establish global performance standards and boost investor confidence.
The $310m first close for Slate Canadian Real Estate Opportunity Fund II consisted entirely of follow-on commitments from investors in the predecessor fund.
Evaporating hotel occupancy levels stemming from the coronavirus pandemic have forced the Singapore-based firm to revise its exit strategies for assets in its third and fourth opportunity funds.
A logistics center
The Hong Kong-based private equity firm raised the capital from a mix of fund and new investors.
The New York-based manager’s €9.8bn closing for its BREP Europe VI fund sees it stay equity-rich as new opportunities emerge from the crisis.
Due diligence was conducted remotely through video conferences for investors who came in after the outbreak of the pandemic.
The sovereign wealth fund finalized a $150m commitment to the sector after entering into discussions at the end of last year.
The rapid spread of coronavirus has thrown a spotlight on the country’s growing need for healthcare facilities, a sector of the local real estate market that remains undercapitalized.
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