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Former New York deputy mayor for housing and economic development, Alicia Glen spoke to PERE about the private sector’s role in affordable housing, days before launching her own investment firm.
The role private institutional capital plays in solving the world’s affordable housing crisis has been under a scrutiny only intensified by the coronavirus pandemic.
The asset manager’s recently structured real estate team will seek to take advantage of opportunities arising from the covid-19 crisis.
Sculptor
The pandemic has led the world’s largest asset manager to rethink its allocation plan for Europe Property Fund V, which just closed on €1.5bn.
The investor believes the pandemic’s impact on its five Dutch sector portfolios this year will range from ‘severe’ on its Hotel Fund to ‘limited’ on its Residential Fund.
The Canadian pension investment corporation has closed on a $421m development joint venture with a Florida-based apartment developer and operator.
A measure to allow some borrowers to request forbearance from special servicers could hinder new loan originations, said a Real Capital Analytics executive.
The pension is still open to investing in real estate funds but expects the execution to be slower due to covid-19.
The sovereign wealth fund finalized a $150m commitment to the sector after entering into discussions at the end of last year.
With the multifamily sector still in its infancy in Australia, the Melbourne based manager is seeking A$1bn to lend to first mover developers.
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