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Bert Teuben

Bert Teuben

Executive Director, MSCI Research

Bert Teuben is responsible for MSCI’s Real Estate Index Management Research and specializes in maintaining, enhancing and developing index and analytic methodologies, overall index quality as well as conducting research for the private real estate indexes. He joined one of MSCI’s predecessors in the Netherlands in 2004. Bert holds an MSc in Architecture, Building and Planning from the Eindhoven University of Technology under the master program for Real Estate Management & Development.

Research and Insights

Articles by Bert Teuben

    Breaking Down Real Estate Net-Zero Targets

    Report | Feb 18, 2022 | Bert Teuben , Antonios Panagiotopoulos

    To address climate change, leading real estate funds and companies around the world are setting decarbonization and net-zero targets.

    Beginning to Understand the Performance of Social Properties

    6 mins read Blog | Nov 22, 2021 | Bert Teuben

    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.

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

    8 mins read Blog | Mar 30, 2021 | Bryan Reid , Luis O’Shea , Bert Teuben , Luis O’shea

    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?

    Currency-Risk Hedging in Real Estate Benchmarks

    5 mins read Blog | Feb 22, 2021 | Bert Teuben , Lionel Ebener , Chirag Gosar

    Global real estate investors can expose themselves to currency risk. Using a hedged index, they may better align their benchmark and investment approach and ensure currency risk is accurately treated in allocation modeling and performance attribution.

    Myths Debunked - Listed and Private Real Estate: Putting the pieces back together

    Report | Oct 14, 2020 | Fritz Louw , Bert Teuben

    This new condensed version of ‘Listed and Private Real Estate: Putting the Pieces Back Together’ explores whether a property owned by a listed real estate company, such as a Real Estate Investment Trust (REIT) or a real estate management and development company, produces returns close to those of an equivalent asset that is privately owned. Specifically, how do equity market factors, financial structures and individual properties contribute to performance? This research paper uses MSCI’s...

    Real Estate Market Size 2019

    Report | Jun 28, 2019 | Razia Neshat , Bert Teuben

    MSCI began systematically estimating the size of professionally managed real estate investment markets in 2004. These estimates are fundamental to the creation of the MSCI Global Annual Property Index and a range of other multinational indexes and benchmarks, and they provide insights into the coverage of MSCI’s direct property indexes. This paper sets out the 2019 market size estimates and explains the main changes between 2018 and 2019.

    Real Estate Market Size 2017

    Report | Jun 15, 2018 | Hanskumar Bothra , Bert Teuben

    MSCI began systematically estimating the size of professionally managed real estate investment markets in 2004. These estimates are fundamental to the creation of the IPD Global Annual Property Index and a range of other multinational indexes, and they provide insights into the coverage of MSCI’s direct property indexes. This paper sets out the 2017 market size estimates and explains the main changes that occurred between 2016 and 2017.

    Real Estate Market Size 2016

    Report | Jun 30, 2017 | G Hariharan , Bert Teuben

    The MSCI real estate market size report 2017 is now live. Discover the 2017 market size estimates and understand the main changes between 2016 and 2017 now. MSCI began systematically estimating the size of professionally managed real estate investment markets in 2004. These estimates are fundamental to the creation of the IPD Global Annual Property Index and a range of other multinational indexes and benchmarks, and they provide insights into the coverage of MSCI’s direct property...

    Listed and Private Real Estate: Putting the Pieces Back Together

    Blog | Apr 19, 2017 | Bert Teuben

    A property owned by a listed real estate company, such as a Real Estate Investment Trust (REIT) or a real estate management and development company, should produce returns close to those of an equivalent asset that is privately owned. In reality, however, the results differ, especially when looking at short-term performance. The challenge for real estate investors is to be able to use both listed and direct real estate in their real estate allocations and understand the performance drivers...

    Listed and Private Real Estate : Putting the pieces back together

    Report | Apr 19, 2017 | Ian Cullen , Bert Teuben

    A Study of the Drivers of European Listed Real Estate Performance in Association with the European Public Real Estate Association.

    The Road Toward a Seamless Global Real Estate Portfolio

    Report | Jun 30, 2016 | Bert Teuben , Brent Mcelreath

    Real estate investors can analyze performance of direct real estate in detail. However, listed real estate, which includes public REITs, rarely offers detailed data, making it challenging to monitor a portfolio consisting of both private and public assets. Two developments are focusing issue: 1) real estate will constitute a new GICS® sector as of August 31 and 2)  many asset owners seek to globalize their real estate portfolios: adding international listed securities is a simple and...

    Real Estate Market Size 2015

    Report | Apr 4, 2016 | G Hariharan , Brent Mcelreath , Bert Teuben

    MSCI began systematically estimating the size of professionally managed real estate investment markets in 2004. These estimates are fundamental to the creation of the IPD Global Annual Property Index and a range of other multinational indexes and benchmarks, and they provide insights into the coverage of MSCI’s direct property indexes. This paper sets out the 2015 market size estimates and explains the main changes between 2014 and 2015.

    Real Estate Market Size 2014

    Report | Jun 30, 2015 | Mark Clacy-Jones , Bert Teuben

    Insights into the size of the professionally managed global real estate market.

    Research Insight - Findings of the 2013 Global Asset Owner Survey - February 2014

    Report | Feb 11, 2014 | Bert Teuben , Neil Gilfedder , Zita Marossy , Peter Hobbs

    This Research Insight presents the results of the 2013 MSCI Global Asset Owner Survey, which focuses on understanding the asset allocation processes of institutional asset owners, with a close examination of risk management of the real estate exposure. The findings come from in-person interviews with staff at 40 asset owners from around the world, representing $3.2 trillion in assets, as well as online survey responses from another 40 asset owners, representing $0.7 trillion in assets. These...