Real Asset Media Thought Leaders

RealCast: Investor appetite for residential REITS and Hammerson VIA stake sale

In the spotlight this week: Hammerson's sale of VIA Outlets to APG as part of £825m cash raise and UK housebuilders get a boost from 'Planning for the future' Government proposals.

Dan Innes, Nicol Dynes and James Wallace join Richard Betts to discuss these and the other key real asset headlines for the week including:

• EPRA figures show discounts to NAV (Net Asset Value) reducing for UK Residential as sentiment improves.

• VIA Outlets - Hammerson stake sold to APG for €301m.

• Hammerson aiming to raise £825m to improve liquidity after posting a significant loss.

• UK Government's 'Planning for the Future' proposal creates controversy but boosts sentiment for the UK residential sector.

• Digitisation of real estate takes centre stage.

Modest pipelines will help the European office market

Hans Vrensen, Head of Research & Strategy Europe, AEW, tells The Real Asset Day their research shows that new supply of offices in the next five years will be less than half of what it was before the GFC.

Office building boom underway in Paris

Hans Vrensen, Head of Research & Strategy Europe, AEW, tells The Real Asset Day that their new research shows the French capital has the highest level of speculative office development.

 

RealCast: H1 2020 data in the spotlight

Q2 2020 GDP figures and Real Capital Analytics deal data show Europe is performing better than the US and Italy better than expected.

Judi Seebus, Nicol Dynes and James Wallace join Richard Betts to discuss these and the other key real asset headlines for the week including:

 

• Q2 GDP figures set negative records in the US and Europe but Italy better than expected.

• RCA deal data - mega deals mask big fall in deal volumes

• URW results, mixed picture but some bright spots including Spain.

• Starwood raises $11bn and targets real estate & distress.

• Azora raises €680m for hotel fund.

• Italy bounces back with office deals.

Introduction to REALX the virtual property show

As Covid-19 creates a barrier to physical events that may last into the autumn, Richard Betts of Real Asset Media highlights a new initiative designed to bring the industry together under one virtual roof.

 

REALX, the global conference and exhibition launches on the 17th/18th of September and is designed as an 'effective and efficient way to help the industry jump back into the market after the summer break'.

Redevco: Physical retail is still worth investing in

Redevco’s Andrew Vaughan tells Real Asset Media's Richard Betts how the retail investor has streamlined its portfolio to prosper in today’s rapidly changing market.

Physical retail is still worth investing in, provided three conditions are met, says Vaughan: 'Good quality buildings in the right locations and flexibility. We fundamentally still believe in retail and with those three ingredients you are going to be okay.’

Redevco’s CEO sees the strategy continuing to evolve: 'We’re heading in the same direction as before, we’re looking much more at mixed-use, we’re into residential, we’re starting to look at some other sectors as well.'

Leisure is critical for post-covid retail return to prosperity

Michael Harrison, Co-Founder and COO of UK-based active leisure specialist Gravity tells Real Asset Day how the company is well-positioned for a post-pandemic retail world in which leisure will be critical.

Covid-19 has accelerated the retail market’s thinking on the direction the sector needs to take to return to prosperity, according to Harrison.

Landlords are coming around to the idea that leisure cannot be a secondary component of a shopping centre anymore, it needs to be front and centre as part of the retail environment,” he explains.

It is widely known that retailer fortunes, on the high street and in shopping centres, have been dwindling for some time says Harrison adding: “The pandemic has sped up what I have been preaching for the last five years – that leisure needs to be an integral part of the high street in the shopping mall."

Three real estate opportunities to grasp in Spain

Cristina García Peri, Head of Corporate Development and Strategy, Azora, tells The Real Asset Day they are focusing on leisure, affordable housing and logistics in Spain:

Leisure hotels in the belief that tourism will come back strongly, affordable housing because there is a huge shortage and light industrial properties, especially mixed-use assets with offices and logistics focused on e-commerce.

RealCast: Logistics and infrastructure power ahead

Judi Seebus, Nicol Dynes and Dan Innes join Richard Betts to analyse the week's real estate headlines including:

 

• Prologis releases positive 2nd quarter figures
• LCP completes largest pre-let logistics development in Europe and sells to DWS
• UK Office for National Statistics (ONS) data better than expected for retail
• UK ONS data shows record levels of e-commerce
• Speculative development in logistics returns with Verdion in Germany 
• BNP research on retail in Poland more positive than expected
• Opportunity highlighted for retail and office in smaller cities post-Covid 
• AXA Investment Management raises €1bn infrastructure debt fund
• Azora sees opportunities in renewable energy
• Flexibility in operational real estate 
• Real Capital Analytics - 1H 2020 data preview

Renewable energy: An opportunity for real estate investors

Cristina García Peri, Head of Corporate Development and Strategy, Azora, tells The Real Asset Day that there are real synergies with real estate and renewable energy. It offers the chance to get attractive returns and to benefit from legislation that favours investment in the renewable energy sector, as much more capacity needs to be added.

 

Interview by Real Asset Day's Richard Betts