GLOBAL - Global real estate investment management firm CB Richard Ellis Investors has launched CBRE Global Real Estate Securities - an investment programme offering global securities investment and management services.
CBRE said the 29-member global securities team includes real estate securities, research and investment specialists based in North America, Europe and Asia Pacific. It is co-headed by chief investment officers Steve Carroll, based in the US, and Jeremy Anagnos (pictured), based in London.
Carroll was formerly a global securities portfolio manager with LaSalle Investment Management (Securities) while Anagnos formerly headed European real estate equity research at Deutsche Bank in London.
Robert Zerbst, president of CBRE Investors, said: “In the last fifteen years the global real estate securities market has tripled in size and with a dozen major countries offering REIT-style vehicles, promises even greater growth over the next 10 years.
“The aim of this venture is to provide CBRE Investors’ clients with unparalleled securities management expertise across its global real estate platform, thereby providing valuable portfolio diversification, competitive returns and the opportunity to reduce portfolio risk.”
Carroll said the investable universe of global public real estate securities, currently more than US$500bn, is expected to double over the next five years.
“There has never been a better time to establish a real estate securities presence across a truly global platform,” he said.
Anagnos added: “Roughly half the stocks in the EPRA/NAREIT Property Securities Index are US-based. However, over the next few years it is very likely that additional legislation creating tax efficient, public real estate investment structures (such as US REITs) will be developed throughout Asia and Europe, reflecting public real estate securities markets across almost 80% of the world’s economy.
“This may enhance short term returns for investors and will provide increased liquidity, transparency and diversification in the long term.”
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