The European real estate industry will see a wave of asset management mandates exchanging hands in the coming months. That was one of the key conclusions of several of the panel discussions that took place on Tuesday at EXPO REAL. The US has already experienced a similar development. In the wake of the financial crisis, European fund managers urgently need different and better asset management, said Aydin Karaduman of Frankfurt-based EPM ASSETIS.
The European real estate industry will see a wave of asset management mandates exchanging hands in the coming months. That was one of the key conclusions of several of the panel discussions that took place on Tuesday at EXPO REAL. The US has already experienced a similar development. In the wake of the financial crisis, European fund managers urgently need different and better asset management, said Aydin Karaduman of Frankfurt-based EPM ASSETIS.
'We will see new property and asset managers being selected.' The crisis is also creating opportunities for new product, noted Nick van Ommen, former CEO of the European Public Real Estate Association (EPRA). A growing number of companies will be forced to spin off their real estate into new vehicles in order to raise new capital, he added. 'Only 40% of European companies rent office space compared to 70% in the US.'
Simon Redman, head of business development at Invesco Real Estate and Timo Tschammler, managing director of DTZ Deutschland both struck a more optimistic note, with Redman saying he saw investment opportunities in Germany, the Netherlands and Scandinavia. The chance of making successful investments are greater now than in the past few years, Tschlammer added.
