Real Assets – Page 60
-
White papers
The Evolving Role of Office Space
We just experienced one of the most sudden, vast and unprecedented disruptions of workplace routines in modern society. As COVID-19 swept the globe in early 2020, office-based organizations around the world scrambled to expand remote work to nearly all employees. Overnight, we saw the adoption and implementation of tools, technologies and protocols that many companies had previously been slow to adopt or even rejected.
-
White papers
Think European value-add: Why a short-term strategy needs a long-term philosophy
Investors cannot rely on what worked before. Even short-term strategies need to be reconsidered and reformulated to factor in changes that are shaping our society and our behaviour.
-
White papers
AEW Research Flash Report - June 2020
In this fifth update since the onset of the Covid-19 pandemic, we define a new base case scenario by being more precise about our cash shortfall and yield widening assumptions for individual markets and quantify both short and long-term return implications across more individual markets.
-
White papers
Defaults, disruption and development: Real assets adjust to the new normal
While lockdown measures gradually start to ease, it is still far from business as usual in the real assets sector. Mark Versey explains the impact for investors.
-
White papers
Infrastructure in a post-COVID world – June 2020
COVID-19 and the end of infrastructure as we know it?
-
White papers
Logistics: ‘Last mile’ or further to run?
Following a decade of bumper demand and returns, many experts are questioning whether logistics real estate assets have reached their prime or whether they still have further to run. Vivienne Bolla argues the latter.
-
White papers
COVID-19 and data infrastructure: Will demand translate into profit?
During the initial outbreak of COVID-19, we published a report on the underlying long-term trends supporting data infrastructure. Since then, much about the world as we knew it has changed. Laurence Monnier assesses how many of the trends we identified remain intact and whether the surge in demand for data services and infrastructure will translate into investment opportunities.
-
White papers
Real Estate Outlook, Switzerland
The outbreak of the COVID-19 pandemic has disrupted the economic outlook abruptly. Switzerland is set to experience a sharp GDP contraction in 2020, although economic activity is slowly recovering thanks to the progressive lifting of the soft lockdown measures. This situation supports a continued extreme low interest rate environment, which contributes to the attractiveness of Swiss real estate investments.
-
White papers
2020 Isn’t Only Hindsight
By any conventional measure, the current recovery and expansion phase of the U.S. business cycle is the longest in the nation’s history. This naturally leads many to conclude that the economy, and by extension property markets, must be “late cycle” with an inevitable downturn just around the corner.
-
White papers
U.S. Economic & Property Market Perspective Q1 2020
At the beginning of March, the U.S. economy was on pace to record another quarter of moderate but positive growth. Total employment had increased by 214,000 in January and 275,000 in February and the Atlanta Federal Reserve’s real-time model (GDPNow) suggested annualized real GDP growth of 2.5% for the quarter. Within a span of just a few weeks, that assessment was radically upended as more than 30 million American workers lost their jobs in the rapid shutdown of wide swathes of the U.S. economy in response to the equally rapid spread of the novel coronavirus (COVID-19).
-
White papers
2020 Global Strategy Perspective
As we start the third decade of the 21st century, it is an opportune time to take stock of real estate markets around the world. Despite the aftershocks of the global financial crisis, most investors have taken advantage of real estate opportunities outside their home markets. At AEW we have been working with international investors for nearly 40 years. In this report, we share our perspective on global investment markets, considering both global trends and occupier market trends.
-
White papers
What Happens After Listed Real Estate Falls?
It has been a month since the high watermark for listed real estate securities and other equities, and a week since the dam broke. Listed real estate has suffered even more than the broad market, especially in the past few days as public life began to shut down in the wake of the COVID-19 outbreak. Hotels are empty, many malls and restaurants are shuttered, and most of us are working out of our homes rather than at our offices. Even after the March 24 rally, both U.S. and global listed real estate markets are down roughly 40% from their February peaks.
-
White papers
Asia Pacific Market Perspective Q1 2020
Operating conditions and the investment outlook in the Asia Pacific region shifted dramatically over the first quarter. The market had severe restrictions imposed on it to bring the public health crisis of COVID-19 under control, and governments and central banks announced very large support packages to offset the costs of these restrictions. The current projections are for a sharp, but short-lived contraction in economic activity, concentrated in the first half of this year, with a resultant recovery in the second half of 2020 and rebound in 2021. The unknown part of this outlook is the effect any COVID-19 reoccurrence may have, and how disruptive that could be.
-
White papers
Why the city of Berlin is marching to the river edge
When PATRIZIA bought the Coca-Cola building in Berlin’s trendy Mediaspree in 2016 for the PanEuropean Fund, it was a first mover. Since then, the media and communications park has really taken off.
-
White papers
UK Social Supported Housing
A highly resilient, income-focused sector in an uncertain environment?
-
White papers
Major Shifts In Odce Sector Allocations Underway
Prior to the COVID-19 crisis, commercial real estate (CRE) demand and supply fundamentals were largely healthy in most markets and property sectors. The U.S. labor market and household formation had been very strong, driving robust demand for commercial space. Furthermore, relatively conservative underwriting and rising construction costs constrained new supply. In recent months, however, the global pandemic has led to a rapid downturn of the U.S economy, negatively impacting different industries and real estate dynamics.
-
White papers
COVID-19: The re-opening gathers pace
Across the world, economies are re-opening in the aftermath of what is likely to be the deepest recession since World War II. Countries are relaxing social distancing measures in support of economic recovery but still focused on keeping hard-fought infection levels down.
-
White papers
Real estate outlook – Out of office
The COVID-19 outbreak has forced a revolution in office working in the past 10 weeks, with millions of employees working successfully from home across the world. This has led to competing claims about whether working from home will revolutionise the future organisation of work and change the nature of the office real estate business.
-
White papers
Perspective: Real Estate
How long will the low-interest phase last, how stable are the markets and how predictable are the policymakers? These are the questions that we are asking ourselves, that the real es- tate sector is asking itself – but no one seems to have any clear answers. Any answer that can be given is merely an assessment of the current situation that tries to take into account the increasing complexity of the world around us. People then talk about how complexity might be reduced, how a risk can be made cal- culable, and how uncertainty can be made tangible, so to speak. Here, the word uncertain- ty is often used interchangeably with risk, and thus equated with it. This is wrong, as a brief excursion into the world of decision theory illustrates.
-
White papers
Perspective: Renewable Energies
Greta Thunberg, #FridaysForFuture and climate protection currently receive much attention. Greta is cheered on, we point an accusing finger at others, and yet people still buy strawberries in winter. In the current debate on climate protection, two different yardsticks are used. We criticise other people’s behaviour, but have a blinkered view of our own behaviour, seeing only what we want to see.