Private RE Returns Positive; Global REITs Underperform
View Newsletter Private real estate results positive due to income Initial impact of pandemic reflected in 1Q20 results Positive return due to income Industrial real estate performed well. Retail depreciation accelerated this quarter. The dispersion of returns by manager within the NCREIF ODCE Index was due not only to the composition of underlying portfolios but […]
Toughest Quarter Since GFC for Real Assets
Real asset returns were significantly challenged during the first quarter of 2020, March in particular, as almost the entire space (except gold and TIPS) experienced performance not seen since the Global Financial Crisis. The MLP space (Alerian MLP Index: -57%) and energy-related stocks (S&P 1200 Energy Index: -44%) were among the worst hit as Russia […]
Best Location for Real Estate? Europe
The NCREIF Property Index advanced 1.7% during the third quarter (1.1% from income and 0.6% from appreciation). This marked the 35th consecutive quarter of positive returns for the Index. In the second quarter, appreciation return increased from the first quarter, the first such gain since the first quarter of 2015. But in the third quarter […]
A Small Bounceback for Real Estate
View PDF The NCREIF Property Index advanced 1.8% during the second quarter (1.2% from income and 0.6% from appreciation). This marked the 34th consecutive quarter of positive returns for the Index. Appreciation return increased from the previous quarter, the first such gain since the first quarter of 2015. Industrial (+3.1%) was the best-performing sector for […]
New Year, New Lows for Real Estate
View PDF The NCREIF Property Index advanced 1.55% during the first quarter (1.15% from income and 0.40% from appreciation). This was the lowest return since 2010, eclipsing the fourth quarter’s mark of 1.73%. Appreciation fell for the eighth consecutive quarter and made up less than a third of total return. Industrial (+2.83%) was the best-performing […]
Creating Our Real Estate Indicators
Download Our Real Estate Indicators Our Real Estate Indicators, which attempt to provide insight about the commercial real estate market cycle, play a vital role in our conversations with clients and our approach to investing in this asset class. In this edition of our Real Assets Reporter, I describe the reason we developed the indicators, the process we […]
Private Real Estate Debt and Middle Market Direct Lending
Download PDF Private debt offers an attractive opportunity for some institutional investors in this challenging financial environment, as they confront low yields today yet need to bolster their portfolios against the impact of rising rates. At Callan’s 2017 National Conference, Kristin Bradbury of our Independent Adviser Group and Alex Browning of our Fund Sponsor Consulting […]