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Magazine

Priceless property

January 2009 (Magazine)

As transactional data has almost entirely dried up, the true market value of real estate is shrouded in uncertainty. Richard Lowe speaks to three pension funds about what this means for their existing portfolios and investment strategies

Magazine

Playing it safe

January 2009 (Magazine)

As the downturn bites the latest Emerging Trends survey shows increased interest in apartments and industrials as well as a move up the popularity stakes for Denver, Houston and Boston. Robert Ruggles and Chuck DiRocco report

Magazine

New reality, new priorities

January 2009 (Magazine)

The downturn has moved alignment of interests and the use of INREV Guidelines up the agenda while the appetite for higher-risk investments remains in spite of the increased volatility. Andrea Carpenter presents the findings of INREV’s 2009 Investment Intentions Survey

Magazine

New Scope

January 2009 (Magazine)

Allocations to real estate by institutional investors in France have been modest and diversification limited. But efficient REITs and the new OPCI have stimulated investment. Christine Senior reports

Magazine

Power to negotiate

January 2009 (Magazine)

Investors should scrutinise the management they are paying for to test the appropriateness of the fees paid, says Frank Rackensperger

Magazine

Opportune moment

January 2009 (Magazine)

Continual outperformance is rare, so today’s market conditions may make the extra expense of an active strategy particularly hard to justify. Yet some investors are heading further up the risk curve, as Paul Mitchell reports

Magazine

No room to manoeuvre

January 2009 (Magazine)

Evidence suggests that pension funds remain committed to real estate in the medium term despite the recent turmoil in the markets. Yet, in the short term many are finding it difficult to commit to new investments as the denominator effect takes hold. Richard Lowe reports

Magazine

Low light in the sunshine state

January 2009 (Magazine)

Never mind California dreamin’, the harsh reality for REITs was reflected in the sombre mood at NAREIT’s annual conference. But the meeting noted some bright lights, as Jon Peterson reports

Magazine

Too much, too little, too late?

January 2009 (Magazine)

Fees designed for a seller’s market have survived into a buyer’s one. So are the old structures still working – and, if they aren’t, what are pension funds going to do about it? Shayla Walmsley reports

Magazine

Knowledge is king

January 2009 (Magazine)

The main impediment to more widespread use of property derivatives by investors is a lack of familiarity. Tony Yu introduces a new publication from the IPF and PDIG which seeks to address the information gap

Magazine

Under increasing scrutiny

January 2009 (Magazine)

More cross-border transactions and greater market volatility have challenged the valuers in terms of quality control. Increased frequency is now a priority, as Andrew Barber reports

Magazine

Room for improvement

January 2009 (Magazine)

As Asia’s markets develop, well-timed value-added opportunities will enable investors to harness the continent’s vast potential when the markets begin to stabilise, says Charlie Duke

Magazine

Get a grip

January 2009 (Magazine)

Ditch debt and downgrade return expectations – then focus on tomorrow’s problems. Industry leaders tell Shayla Walmsley what we should learn from the current crisis

Magazine

Freeze frame

January 2009 (Magazine)

Valuers continue to seek to reflect market sentiment in the face of transactional inactivity. But how realistic is it provide a snapshot of a property’s value when, effectively, there is no market? Richard Lowe investigates

Magazine

Exit right

January 2009 (Magazine)

Managers with funds due for termination are choosing to extend rather than liquidate. But are investors happy to tie up their equity for longer in the hope that the market will improve? Shayla Walmsley reports

Magazine

Emerge stronger

January 2009 (Magazine)

The opportunity fund model must sink or swim as it faces its greatest stress test as the recession begins to bite. Steve Hays reports

Magazine

Efficiency drive

January 2009 (Magazine)

The new harsh economic reality will add additional tax challenges – and opportunities – for the real estate fund management industry, say John Whitehead and Siobhan Godley

Magazine

Distant lights

January 2009 (Magazine)

Investor mettle is being severely tested as the gloom around London office deepens. It is not all bad news, but timing will be critical, says Andy Schofield

Magazine

Quis custodiet ipsos custodes?

January 2009 (Magazine)

The collapse in CMBS was followed by a loss of confidence in the organisations that ‘rated’ these products. Colin Lizieri asks, how do we eradicate the moral hazard and restore confidence in ratings?

Magazine

Ray of light in the crisis

January 2009 (Magazine)

The very severity of the blows dealt to the US commercial real estate market by the credit crisis and the weak economy could lead to some of the best bargains in CRE investing in our lifetimes, says Michael Pralle