Real Asset Media Thought Leaders

Proptech collaboration essential to deliver real ESG impact

Proptech companies must work together if the real estate industry is to achieve meaningful progress on ESG performance, according to Paul Wessels, founder of Blue Module, speaking to Real Asset Media at EXPO Real 2025.

Wessels said rising pressure on owners and investors to cut costs, improve reporting and meet sustainability obligations is accelerating demand for integrated digital solutions rather than standalone tools.

“If you look at sustainability in ESG in general, it's still very important, especially in markets which are being competitive, like the office market and industrial, their costs are key. Bringing down the costs is key, and also reporting to your tenants and, of course, financing your real estate,” he said.

“We provide really an overview of your assets, a really holistic insight, but we work closely together with the likes of Freesi, which is measuring the air quality, or Waste Tracker, which is gathering waste information.”

He added: “Collaboration is key between the proptech players, because you need comprehensive information about your building to get really an insight on which you can act, and we've launched a collaboration with NTrust, because a lot of information which you need to properly report and get insight into your building is paper[-based].”

He said Blue Module’s partnership with NTrust demonstrates how shared capabilities can unlock new efficiencies. “NTrust have developed a great tool to get this information from paper with AI and also human intervention into usable digital information, and I think this will be a game changer for the industry,” he said.

European logistics remains a buyers’ market: Balazs Lados, Realterm

Europe's logistics sector remains a buyer's market, but landlords with prime, well-located assets still hold the advantage, according to Balazs Lados, managing director and European fund manager at Realterm.

"It's still a buyer's market out there and it's still a landlord's market," Lados told Real Asset Media at EXPO Real 2025. "So, if you have good buildings in good locations, you can still make the market. If you have the good type of capital, you can buy phenomenal products at very attractive yields today."

Realterm, a US-based global logistics real estate investor, is expanding its European footprint, particularly in Germany. "We're very excited about entering Germany. We hired a team based in Frankfurt, and we plan to grab tremendous market share this year in this market," he said. "We also like the UK and our headquarters is based in the Netherlands, so we traditionally have a lot of deal flow in the Benelux."

He added that the company also sees potential in Southern Europe. "Southern Europe has come far in the last couple of years since Ukraine. And interestingly, Spain now seems a bit more expensive than Germany, which is nothing that I've ever seen in my career."

Looking ahead, Lados said Realterm plans to grow its portfolio of high-quality assets. "In the next year, we look forward to acquiring a lot more great and functional buildings in class A markets and then to continue to provide great services for our customers and tenants across Europe."

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Stability is a key demand driver for residential in Europe, Britta Roden Swiss Life Asset Managers

The residential market remains the hottest investment segment across Europe, according to Britta Roden, head of research for real assets at Swiss Life Asset Managers, speaking to Real Asset Media at EXPO Real 2025.

"The residential market is the hot topic in terms of investment right now across Europe," she said. "It's the one segment that's stable across any type of geopolitical risk, across any interest rate changes. This segment is stable in terms of demand. So, this is where investors want to go."

Roden said global investors are increasingly recognising the appeal of the European living sector. "The major change I see is that now there are other investors from across the globe discovering the stability," she said. "So, there is money inflowing from the Middle East, from the US, and also from Asia, which is interested in the European living sector. The stability in European residential real estate really lies in the stability of our economies and of our political framework."

She added that the predictability of Europe's political systems provides reassurance for long-term capital. "So, there won't be any major surprises. No matter who wins an election, we're still all democratic, which means you can rely on politics. And that makes the segment very stable for investors."

From a demand perspective, Roden said the migration towards Europe's key urban centres will remain strong. "From a demand perspective, there's always an inflow towards the major cities, towards the economic powerhouses in Europe, so you will always have tenant demand," she said. "I certainly expect this trend to continue, especially since we don't see the housing developments that we would need to accommodate all these new people coming into the cities."

She noted that new opportunities are emerging in markets that historically had higher ownership rates. "The hardest investment prospects in terms of European living are the countries which have not previously had a large tenant base," she said.

"So, there are markets where people usually used to buy property, where occupiers now can't afford to buy anymore at the higher interest rates. So, there you see increasing tenant rates, or more and more people decide to rent instead of buy, and those are the markets that are growth markets for investors."

Decentralisation and new demand drivers support logistics growth: Joël Gorsele , CEO, Intervest

Joël Gorsele, chief executive officer of Intervest, says Europe's logistics market is showing signs of renewed confidence, underpinned by decentralised supply chains and new sources of occupier demand.

Speaking to Real Asset Media at EXPO Real 2025, he said stability in macroeconomic and geopolitical conditions has encouraged tenants to restart expansion plans after a period of caution.

"Certain elements have stabilised. Where there was uncertainty in the market, I believe that has now moved from uncertainty to being cautiously positive," Gorsele said. "It was fantastic to hear that my colleagues also see demand from logistics clients picking up."

Intervest, a Benelux-based logistics real estate platform backed by TPG, was taken private more than a year ago and is now pursuing growth across France, Germany and Italy. Gorsele said the company remains "fully focused on growth, sustainable growth, and creating value".

He added that confidence among tenants has improved in recent months: "We have been seeing that since there was more clarity on the US tariffs and also a couple of geopolitical topics that ruled the news were going in a direction of being solved, we see clients being more active on working on their business plan, completing their business plan, and also ready to go forward with their business plan, and that's great to see."

According to Gorsele, regionalisation is the key driver now shaping logistics investment and leasing decisions. "We also see decentralised supply chains in terms of spreading those supply chains around and not only focusing on one certain hub, being close to clients, but also focusing on core markets, markets that deliver transparency – not for us from a real estate perspective, but for our clients," he said.

He pointed to rising stockpiling activity, warehouse take-up, and re-ordering volumes for the first time in over a year. "We see clients being more confident, feeling that things are moving ahead, and that they are ready to move forward and spend more," he said.

Emerging demand sources are also driving sector expansion. "Say that we had flows of solar panels in the past, we now see the flows of batteries," Gorsele explained. "We'll definitely see some demand from defence, and we'll also see more and more demand from supermarkets that are professionalising and automating a lot of their services to their clients."

He added that near-shoring — long discussed in industry circles — is now a visible market trend. "We see companies from China moving to Europe and investing into Europe and manufacturing basically in Europe. That will be a trend where also our clients — 3PLs — will take action, too," he said. "And that will, of course, bring shorter and more resilient supply chains, and it will probably, in the longer term, help Europe as well."

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Transport Logistic 2025: intensifying competition for logistic real estate

At Transport Logistic 2025 in held in Munich (2 to 5 June), Richard Betts, founding partner of Real Asset Media, shared his impressions of one of the world’s leading transport and logistics events.

The fair expanded to 12 halls this year — an increase of two compared to 2023 — and attracted over 75,000 attendees.

“From my side I can see that it's a lot more international than it has been in previous editions.”

He highlighted Hall B5, where real estate was a core focus, but emphasised the event’s broader relevance across the logistics ecosystem.

“In Hall B5, there's a lot of focus on real estate, but what's interesting about this fair is that there's also a very big focus on the occupier side as well as the real estate side.”

Real Asset Media contributed to the official conference programme by hosting a session on the future of logistics spaces, with discussion focused on location decisions, investor requirements, opportunities and regulatory challenges.

“We're hosting a session here as part of the official programme looking at the future of logistics spaces — what that means in terms of locations and what some of the key trends are that are driving logistics. One of the key takeaways from that was that sustainability is still a very big driver, both in terms of the occupier but also in terms of the investor, and there's a big focus as well on energy and regulation — those kinds of elements that are creating a challenge for logistics going forward.”

Betts also flagged intensifying competition for premium sites as an important concern, with new asset classes entering the fray.

“A key focus as well was being able to access the space, because competition for really prime areas is beginning to grow, with also areas like data centres being active in the market.”

He concluded by linking these pressures to wider shifts in global trade patterns, noting that increased demand for logistics space is being driven by multiple overlapping forces.

“The scarcity of locations is really going to drive competition and, as well, we are looking at changing supply chains. When we're looking at near shoring, deglobalisation, changes in globalisation — that all leads to additional space needed for logistics.

"So, one of the key elements here is how's that going to be shown in the market, and top logistics locations for the future; particularly areas around ports where we're going to see increased activity, large global hubs — so it's going to be fascinating to see how that develops."

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Battery technology can transform real estate, Neil Richardson, Titanvolt

Neill Richardson, CEO of Titanvolt, a UK-based leader at the forefront of advanced energy storage for the built environment, was at MIPM to talk to investors and customers; "we've had a lot of discussions with investors around the bigger picture, the 10-year plan looking at what Titanvolt can do in the future." Titanvolt, based in Newcastle aims to become a global brand says Richardson "There's currently no option for a battery that can enter a flat or apartment mews or maisonette that is truly safe. Titanvolt gives that option."

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