By Allen Kenney
Real estate professionals from across the globe descended on Greece this past fall to discuss real estate investment opportunities worldwide.
The meeting in Athens, sponsored by the European Public Real Estate Association (EPRA), featured two days of dialogue on the hottest issues faced by real estate experts around the world. Topics included how to meet the growing demand for global real estate investment, the opportunities available in developing countries, sustainability and the number of “take privates” by the private equity industry. The conference also included a series of presentations detailing the REIT regimes of specific countries and regions.
Photo: Joe Sohm/Punchstock |
Cheeseheads Go Global
Wisconsin state employees have opted to start investing in real estate abroad.
The State of Wisconsin Investment Board (SWIB) announced in mid-October that it had allocated $400 million to global real estate securities. The allocation is being split evenly between asset managers RREEF and European Investors.
SWIB is a state-operated group responsible for investing the assets of a variety of state trust funds, including the Wisconsin Retirement System. |
From GE With Love
GE Real Estate announced late last year that the company had made its first investment in Russia.
GE is putting up one-third of the initial investment in a new $150 million real estate fund, Heitman Russia Property Partners (HRUPP). The fund is specializing in development and refurbishment across multiple commercial sectors throughout Russia. Heitman LLC is operating the fund, which is focusing most of its capital on projects in concert with local Russian developers.
“Not only are we investing alongside good partners but we also have a very experienced manager in the form of Heitman, whose experience with capital and network of contacts will be invaluable to HRUPP and with whom we already have a successful history,” says Olivier Piani, president of GE Real Estate Europe.
GE has previously worked with Heitman on funds focusing on real estate investment in Poland and the Czech Republic.
[global development]