Europe

Hampered transaction activity by the PERE 100 in 2020 was predictable in the circumstances, writes Simon Mallinson, executive managing director at Real Capital Analytics.

Aided by the rise of logistics and other property types, opportunistic and value-add managers outperformed their core counterparts.

Even the most dominant in the ranking are seeing a drop in aggregate growth.

Property finance veteran Natalie Howard is building a new credit business. She tells us why organisations like Schroders are the ‘natural fillers’ of real estate’s funding gap.

Institutions continue to seek exposure to logistics assets as retailers adapt to a changing marketplace. Identifying assets that will benefit from structural change is critical, according to James Jacobs, head of real estate for Lazard’s private capital advisory group.

The top 10 managers accounted for 37% of the overall AUM in 2020, continuing the industry consolidation trend, according to the latest survey by industry organizations NCREIF, INREV and ANREV.

Market sources say non-bank lenders dominate the financing of such schemes as they look for returns in parts of the market underserved by traditional banks.

Along with confirming the New York-based firm’s ownership of an iconic asset, the favorable ruling protects Italy’s viability as an investable market.

Following his firm’s acquisition of the debt manager, the global chief executive sees huge potential in credit strategies as banks retrench from real estate.

The $207bn global alternative asset manager’s US real estate debt platform made up the largest share of its AUM in the asset class.