BLOG

Was Infrastructure Solid During COVID-19? 

Real Estate Investing , Risk Management

Infrastructure investments have not been spared the effects of the pandemic. A closer look across investment types, subsectors and risk levels over time may provide useful perspective as private-capital firms and their investors manage through.

BLOG

Could COVID-19 Topple Global Cities' Dominance? 

Real Estate Investing

Property investors turned to global gateway cities to diversify portfolios and generate capital growth in the years since the 2008 global financial crisis. We assess whether COVID-19 could jeopardize the relative dominance of these power cities.

BLOG

Missed Rents’ Impact on Real Estate 

Real Estate Investing , Fixed Income

Some commercial tenants have stopped paying rent amid COVID-19. Without rental income, property funds are not able to pay distributions to shareholders and borrowers cannot service their debt. We analyzed property-fund data to assess the impact on investors.

BLOG

Measuring Climate Risk in Real Estate Portfolios 

ESG Research , Real Estate Investing

By evaluating real estate portfolios in terms of different physical risks as well as under different transition-risk scenarios, investors may be able to build a more complete picture of their exposure.

BLOG

COVID-19 and Real Estate: The Devil Is in the Dispersion 

Real Estate Investing , Risk Management

Many real estate markets were showing signs of a slowdown even before COVID-19’s negative impact on property portfolios. Has this correction been similar to previous ones? We looked at dispersion of returns, within and across real estate sectors, for the answer.

BLOG

Real Estate Asset Selection Mattered — Especially in a Crisis 

Real Estate Investing

As real estate strategies become more complex and market disruption continues, attribution analysis may prove a valuable tool. We looked at asset selection’s role in driving portfolios’ relative returns during relatively calm and disruptive periods.

BLOG

How COVID-19 could impact private real estate values 

Real Estate Investing

Real estate has not historically been immune to growth shocks, but the impact of COVID-19 has been harder to establish than it has for public equities. Discounted-cash-flow scenarios may help investors understand the potential sensitivity of their portfolios.

BLOG

What out-of-cycle write-downs may mean for real estate yields 

Real Estate Investing

As real estate investors seek to understand how the COVID-19 crisis could affect their portfolios, several large Australian pension funds recently wrote down their property portfolios by up to 10%. What could a 10% write-down imply for yields?

BLOG

Real estate is about more than location during uncertain times 

Real Estate Investing

With real estate now occupying a greater slice of multi-asset-class portfolios, factors such as lease length, may be more systematic drivers of return than previously thought. 

BLOG

What’s driven capital growth in real estate portfolios? 

Real Estate Investing

In real estate investing, capital growth has historically been responsible for most of the observed volatility in total returns. Could breaking capital growth into its components help tell a more detailed story of property portfolios’ performance?