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Beginning to Understand the Performance of Social Properties 

Real Estate Investing

The precise measurement of social impact is in its early stages. But some property sectors like affordable housing have obvious links to social themes, and investment in these “social properties” has increased significantly over the last 10 years.

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Could Factors Help Explain Asset-Level Real Estate Performance? 

Real Estate Investing , Factor Investing

For real estate investors, property type and geography segmentations are the primary lens through which they measure and manage their portfolios. Testing five potential real estate style factors, however, were we able to better explain asset-level variation.

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Real Estate’s Income Risk in the Wake of COVID-19 

Real Estate Investing

COVID-19 has weighed heavily on the financial positions of companies that hold leases for commercial real estate. Property investors can track the covenant quality of their tenants and translate it into a probability of default over the length of the lease.

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Benchmarking Pan-Regional Real Estate Funds 

Real Estate Investing

Real estate investors have increasingly sought pan-regional funds to diversify globally. But such funds’ exposures can be significantly different from the market at large. What’s an appropriate benchmark for these diversified fund investments?

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Assessing Private Infrastructure in a Multi-Asset-Class Portfolio 

Real Estate Investing , Risk Management

Private infrastructure is a popular element of institutional capital allocations, and increased focus on renewable or carbon-neutral infrastructure may mean significant new investment opportunities. What role could it play in a multi-asset-class portfolio?

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COVID-19’s Uneven Impact on Office Vacancy 

Real Estate Investing , Global Investing

What was the precise impact of the COVID-19 crisis on office properties? While the overall vacancy rate at the end of 2020 was lower than the previous cycle’s peak, the percentage of fully leased office buildings reached an all-time low.

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Translating Climate Goals into Action in Real Estate Portfolios 

Real Estate Investing

Many investors have made bold commitments to transition their real estate portfolios to net-zero carbon emissions and are now developing and implementing plans to achieve this goal. But what could this transition look like in practice for property portfolios?

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Real Estate’s Climate-Transition Risk: The Path to Net-Zero 

Real Estate Investing , Risk Management , Global Investing

The 2015 Paris Agreement seeks to keep the rise in global temperature to well below 2 degrees Celsius above pre-industrial levels, and many governments are aiming for 1.5°C through nationally determined contributions. What are the implications for real estate markets?

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How Office Real Estate Performed amid COVID 

Real Estate Investing

COVID-19 disrupted real estate across countries and property segments. The biggest initial impacts were felt in retail, leisure and hotels. But more recently, the performance of listed offices has lagged.

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Open- vs. Closed-End Real Estate Funds: How the Choice Mattered 

Real Estate Investing

The aggregate performance of closed- and open-end real estate funds in the U.S. was strikingly similar in recent years, despite large differences in their strategy and roles in portfolios. But did some investors gain an edge through fund selection?