Commercial Real Estate

Commercial Real Estate - Articles & White Papers

Articles and white papers on commercial real estate (CRE) for institutional investors. The most popular reports in this section provide research on the outlook for commercial property including secular trends, or demographic "megatrends" in institutional real estate investment. One popular paper considers the risks in direct real estate investing. Considering the characteristics of commercial real estate as an asset class, CRE is considered a "real asset", with long-term inflation hedging properties. Making an allocation to direct investment in commercial property provides added diversification and risk-reduction benefits to most multi-asset portfolios, but direct investment in property is only feasible for larger funds. Smaller funds may invest in listed commercial property funds, or may use listed real estate securities or REITs as a proxy for the asset class. Some papers argue a case for strategic allocation to REITs (real estate investment trusts), which now exist as a dedicated sector in many equity indices. From the perspective of defined contribution pensions plans, a strong argument is presented for adding private real estate as an investment option in DC plans. For DB pensions, an allocation to commercial property provides a relatively secure, predictable, real income stream. In this section you will also find reports on the UK commercial property outlook, the outlook for commercial real estate in North America, as well as the outlook for commercial property in Europe, China, Asia Pacific and the emerging markets. Indeed, an increasing number of investors are viewing commercial property as a global asset class; traditionally major investors have retained a home bias to the asset class, but cross-border activity is increasing. Other articles and surveys cover research into the history of property prices, property bubbles, UK commercial real estate debt and factor analysis for real estate.

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