INREV Meeting in NYC
INREV is a European real estate trade association that some folks have referred to as the PREA (Pension Real Estate Association) of Europe. Now with 400 members, INREV (European Association for Investors in Non-Listed Real Estate Vehicles), has come a long way since it's launch in 2003. The brainchild of two industry veterans, Pieter Hendrikse and Willem de Geus, I have been a friend and member of the organization from shortly after it's beginnings.
Last week, I attended INREV's annual U.S. meeting in New York City. It was great to see so many industry friends and meet some new ones. I wanted to share some of my presentation takeaways with you:
- Hedge for next 20 years in Europe: double down in Germany
- Real estate investment / development opportunities across Europe = tourism / tourist destinations
- Fastest growing destinations for Chinese tourists:
- UK (almost tied with Spain)
- "In my 20 years as an economist, the North Korea situation is the most worrisome event I has ever observed. North Korea is the hermit kingdom (we don’t know anything about them). War is truly a possibility."
- Audience Survey Question: Biggest concern/challenge real estate faces today? Answer: 61% chose Frothy Property Prices
- "Invest in cities, not countries; locations getting more and more important."
- "Industrial is now ‘the place’ vis a vis e-Commerce space needs"
- "Consumer confidence is key to growth"
- Structural drivers of economy: Technology & Urbanization
- Major disruptor: e-Commerce
INREV is actively seeking more U.S. institutional investors to join and offers an introductory membership rate. If you are considering expanding your investment horizons to Europe, I highly recommend looking into INREV where you can get an immersion into what's going on in commercial real estate across Europe (including the UK!).
Congratulations to RCA (Real Capital Analytics)
Congratulations to RCA on the launch of its Global Cities Composite of the RCA Commercial Property Price Index
An excerpt from the 'overview' by RCA Founder and President Bob White:
Global commercial real estate prices grew at the fastest pace in two years in the second quarter of 2017. The Global Cities Composite of the RCA CPPI climbed 2.6% in Q2’17 and has risen 8.3% from a year ago, propelled by strong gains in Boston, Hong Kong, Melbourne and the German A Cities.
The price growth comes despite a 10.9% year-over-year decline in transaction volumes in the Global Cities and subpar results in the two largest global markets – London and New York. The clear winners with the most investment momentum, clustered in the upper right quadrant of the graph above, are the German A Cities, Hong Kong, San Francisco, Amsterdam and Sydney.
Real Capital Analytics (RCA) bases these results on a series of groundbreaking market indices created, and form part of a comprehensive report just published. The indices are transaction-based and utilize repeat-sales regression methodology. The Global Cities Composite tracks 27 metro areas in North America, Europe and Asia Pacific. Over the past decade, approximately 46% of all commercial property transactions have occurred in one of the cities tracked by these indices.
The RCA CPPI Global Cities report is published quarterly. Click here learn more.
Question about LinkedIn and Twitter
I can use your help. Liz and I have been finding LinkedIn more and more helpful in getting the messages about our open-enrollment professional development workshops (Behavioral Presentation Coaching and Women's Leadership) out to the industry. Yet, we have been very conservative about our posts - not wanting to add to all the 'noise' out there. However, Social Media 'experts' suggest you post, post, post. LinkedIn, Twitter, etc. to be noticed. I'm wondering if you have any reaction to those companies and individuals that appear continually on LinkedIn and Twitter. Should we be 'marketing' ourselves more aggressively?
Thanks for your thoughts!
New INREV CEO Lonneke Löwik whom I met when she first was INREV Director of Research and Market Information and then Director of Professional Standards between 2009 and 2014.
J.D. Sitton who has joined J.P. Morgan Asset Management as Head of Client Strategy - Real Estate Americas
Andy Fox who has been promoted to CFO at Ackman Ziff Real Estate
Amber Zhang who has joined The World Bank as Compensation Benefits Analyst
Mary Beth McCormick who is now Executive Director, Center for Real Estate, Fisher College of Business, The Ohio State University
Walt Clements now President and COO at Dean Realty Co.
On the Road...
Oct. 4-6: Dallas to conduct an in-house Behavioral Presentation Coaching workshop for one of our clients.
Oct. 11-12: Chicago to attend the NAREIM Executive Officer's Fall Meeting
Oct. 16-17: Chicago to sit in with an industry band playing 'around' the PREA Fall Meeting.
Oct. 18-19: Dallas to conduct an in-house Behavioral Presentation Coaching workshop for one of our clients.
Week of Oct. 30: New York City to conduct an in-house Behavioral Presentation Coaching workshop for one of our clients
Nov. 4: Nov. 4: Attending the 2017 Gala of Mac Angels Foundation which enhances the quality of life for patients, family members and caregivers impacted daily by ALS, by providing the compassion, education and unique resources needed to manage the devastating effects of this disease. Honorees at this year's gala are Paul McEvoy (DRA Advisors) and his wife, M.C. To donate to Mac Angels please click here.
Tentative Save The Date: Monday, December 4: Steve's Pretty Much By Now Annual Pizza / Drink Thing. Joe G Restaurant, 244 W. 5th Street (Bet. B'way and 8th). Starting at 6pm. Come together with a bunch of your industry friends and make some new ones. We usually get +/- 50 people. You buy your own drinks...I supply the famous Joe G pizza (yes, with various toppings!).