Friday Letter

Offices are coming out of exile

A spate of trophy deals in the last week signals institutions are warming up to the beleaguered asset class.

Hines takes customer service to the next level

In opening an office next door to Korea’s largest investor, Hines’ bold move emphasizes the importance of strategic relationship management in today’s private real estate market.

This is a major way Texas TRS shows industry leadership

By supporting lesser-known managers, the pension plan is thinking and investing differently from many of its industry peers.

Managers should get comfortable with smaller funds

Capital raisers in attendance at Expo Real in Munich this week spoke of the need to adapt fundraising strategies as capital flows remain in the doldrums.

Data center investors like CPP are playing catch up

The Canadian pension’s $15bn joint venture with Equinix represents a significant and necessary upsizing of its investments in the sector.

Real estate investors have a lot on their minds

PEI’s largest Investor Perspectives study to date reflects the increasingly complex concerns affecting today’s capital allocators.

Managers targeting capital distress will be tested by rate cuts 

Deployment strategies formed now to capitalize on a down market risk being too late.

Lone Star’s fundraising shortfall was caused by multiple factors

Performance is just one reason why a fund with an original target of $6bn ultimately collected less than half that amount.

Bressler’s final vindication  

Renowned real estate leader and investor Léon Bressler passed away last Friday after an illness. Most will remember his many market achievements, but his meticulous estate planning must be lauded, too.

APAC managers are not immune from deployment challenges

Asia’s top real estate managers hold at least $65bn of dry powder, but are struggling to invest it.