REC staff

Former property bankers secure commitments of £250m each from five institutions to back platform that will fund new deals and refinancings

 Real Estate Capital UK commentary  UK property stocks lost 4.9% in January, slightly underperforming the wider stock market with relative performance of -1.4%. REITs performed worse at -7.3%. The property sector edged up in the first week of February, aided by a bullish Knight Frank update on central London, before falling in the second week. […]

UK market overview The Jones Lang LaSalle Balanced Fund Index showed a modest 0.51% increase in January, but has fallen 2.61% over the past 12 months, writes Julian Schiller. Taking into account secondary market pricing, the index remains relatively unchanged at -10.27% for the 12 months to the end of January. Secondary market activity is […]

Colony bets on US debt Colony Capital, the US debt investor that backed Orion Capital Managers’ acquisition of Goldman Sachs’ debt in Spanish company Colonial, has won a Federal Deposit Insurance Corporation auction for $1bn of commercial property loans formerly held by failed US banks. The deal valued the loans at 44 cents on the […]

Marriott moves to Oxford Simon Marriott has left private equity real estate group MGPA to join Oxford Properties, the property subsidiary of the Ontario Municipal Employees Retirement System. He will be head of European acquisitions, based in London, reporting to Paul Brundage, who is head of property in Europe. Brundage is recruiting more staff, including […]

UK market overview The Jones Lang LaSalle Balanced Fund Index fell 5.3% in 2009 – a better-than-expected outcome, given the particularly poor performance during the first half of the year, writes Julian Schiller. August was the turning point, when the index enjoyed its first monthly uplift since the 2007 peak. The upward trend continued for […]

Real estate multi-manager arm of Aviva nears first closing of debut fund of funds, a $500m secondary investments specialist with global reach

Risk is a key tool in the fund manager’s kit. The point is not to avoid it, but to get value for money in the trade-off between extra returns and higher risk. The better that managers understand sources of risk, as opposed to just its consequences, the better the trade-offs are likely to be. In […]

REC global commentary Global property shares ended 2009 strongly, returning 3.1% in December, up from 0.4% in November, with all developed markets contributing to the return. Singapore was the best performer at over 9%, followed by Japan (7.8%), Canada (7.6%) and the US (7.2%). Over 2009, rolling 12-month returns improved every month from February onwards, […]

Real Estate Capital UK commentary UK property securities returned 4.4% in December, with REITs outperforming property companies, at 6%. Macquarie Research figures show that over the year, UK property stocks returned 28.7%, compared to a 43% developed markets average annual return. France was the best performing developed European market, at 47.4%. Derwent London was the […]