Author: Lauren Parr
Lauren Parr is news editor at Real Estate Capital, a London-based publication that covers property finance throughout Europe.
Articles by Lauren Parr
- London Planned its Olympic Village in Reverse
Published on June 08, 2012 in Development
Anticipating that GDP will decline during the Olympic Games due to traffic chaos, London has planned in reverse, focusing on the opportunities presented for infrastructure and regeneration post-Games. Given London’s housing shortage, the Athletes' Village was designed to accommodate families and individuals and retrofitted for the athletes, not the other way round.
- Ingenuity is Revolutionizing the Global Economy, Richard Florida tells ULI Europe
Published on June 07, 2012 in Market Trends
The “Great Reset,” driven by the decline of manufacturing in favor of knowledge economies, is bigger than the shift from agriculture to industry, said Richard Florida at ULI Europe’s Trends Conference.
- The Euro Crisis and the Real Estate Sector
Published on June 04, 2012 in Market Trends
If Greece were to exit the 17-nation union, the Eurozone's gross domestic product would fall by 2 percent before there would be intervention, predicted Andrew Garthwaite, global equity strategist, investment banking, at Credit Suisse, at the ULI Europe Trends Conference in London last week. The effect would spread to Portugal, Italy, and Spain, he added.
- Which Are the Top European Markets for Investment?
Published on February 08, 2012 in Development
In the Emerging Trends in Real Estate Europe 2012 survey of more than 600 European property professionals, Istanbul was identified as the top European market for both investment and development.
- Recommendations for Short-Term and Longer-Term Noncore Investments in Europe
Published on February 03, 2012 in Market Trends
“Rather than focusing on asset types, [real estate is] going to be about finding individual opportunities,” says ULI member John Forbes, author of the Emerging Trends in Real Estate Europe 2012 report.
- How will the European Real Estate Market Weather the Euro debt crisis?
Published on February 03, 2012 in Market Trends
Europe’s economic crisis has left real estate investment and development in limbo, with little relief expected, according to Emerging Trends in Real Estate® Europe 2012, the annual industry forecast published by ULI and PwC.
- Restructuring Europe’s Banking Sector
Published on January 11, 2012 in Capital Markets
New lending by European banks is likely to remain strictly conservative, limiting liquidity for the European property market.
- Distressed Assets in Europe: What’s Happening Now—and Next
Published on December 19, 2011 in Capital Markets
As a result of the Eurozone’s sovereign debt crisis, financial institutions are trying to raise additional equity through asset sales—with opportunities presenting themselves over the medium term.
- European Banking Sector Becoming More Proactive in Restructuring
Published on December 14, 2011 in Capital Markets
Restructuring of the European banking sector has come a long way since the onset of the financial crisis. Loan sales are expected to rise in the coming months as banks off-load noncore assets following the Royal Bank of Scotland’s sale of £1.4 billion (US$2.3 billion) of U.K. property loans to Blackstone in July. Read what Marc Mogull, chair of ULI U.K. and founder of London-based Benson Elliot Capital Management, sees ahead.
- London Top Ten
Published on November 08, 2011 in Public Spaces
The London real estate market presents opportunities for all investors—from those seeking core returns to those with an appetite for risk. Thanks to its transparency, international investment is a solid feature of the property market, maintaining its presence even in the depth of the financial crisis. Read more to learn about ULI member Greg Cooke’s top ten reasons for investing in London.
- What Is the Impact of European Austerity Measures on Office Markets?
Published on October 26, 2011 in Capital Markets
Historically high levels of national debt, combined with falling gross domestic product levels, have left some European economies exposed to sovereign debt concerns. For many countries, decreasing national debt through austerity measures—including job cuts—is the only option. Read more to learn which markets are expected to be most affected by the widespread reduction in public sector spending.
- Is Real Estate Still Considered a “Safe Haven” Investment in Europe?
Published on October 19, 2011 in Market Trends
Due to recent turmoil in the debt and equity markets as a result of the sovereign debt crisis in Europe, there is a trend toward stable assets in safe-haven locations, which tend to hold liquidity, and a move away from poorer-quality real estate. Read more to learn what Joe Montgomery, chief executive of ULI Europe, has to say about the likely trajectory of deals over the remainder of the year.
- Office and Retail Development in Europe
Published on October 19, 2011 in Development
When it comes to the best and worst markets for office and retail development in Europe, large, stable markets like Germany and Poland are places where new assets can be developed; in countries like Italy, Spain, and Portugal, however, where there are concerns about sovereign debt, it is much more difficult. Read more to learn what types of development will succeed and what investors now expect.
- Europe in 50 Years
Published on October 06, 2011 in Market Trends
Low birth rates, recently imposed caps on immigration in the United Kingdom, the decline of men as part of the workforce, and the current lack of development finance available from banks may conspire to attenuate the European Union’s real estate market over the next 50 years, say participants at a recent conference. Read how these realities are poised to affect investors in all parts of the world.
- Investment Opportunities in Spain and Ireland?
Published on August 02, 2011 in Capital Markets
Hit hard by the global recession, Spain and Ireland have seen their property values fall significantly—and they may fall further still. But there are selective investment opportunities, with one survey showing that the level of distressed property for sale in the first quarter of 2011 increased faster in Spain and Ireland than in other markets. Read which country investors are betting on—and why.
- Financing Green Retrofits in Europe
Published on July 27, 2011 in Sustainability
Though the market for commercial green retrofit projects in Europe is growing, a viable financing model has yet to emerge. Also, the recession has instigated a lower tolerance for risk and forced some landlords to reevaluate their plans for capital expenditures. Read about the factors investors weigh when deciding whether to take retrofits beyond what would be needed to comply with government standards.
- European Green Retrofits Market Seen as Major Growth Area
Published on July 07, 2011 in Sustainability
With the climate-change agenda a high priority, market-led solutions to facilitate green retrofits are emerging in Europe—though a centralized approach to promote improvement works is still to come. By 2050, EU targets to cut greenhouse gas emissions by 80 percent compared to 1990 levels. The market for green retrofits is therefore seen as a major growth area across Europe.
- New Financial Models
Published on May 24, 2011 in Capital Markets
New financial models have emerged in response to a debt funding shortfall in Europe caused by a retraction of traditional bank lending since the credit crisis. European banks are once again starting to explore the concept of churning their balance sheets through the issue of commercial mortgage–backed securities. Read about two new entrants that are trying to exploit the gap.
- European Union Infrastructure Funding Goes to Newest Members
Published on April 20, 2011 in Infrastructure
The EU is putting into effect substantial expenditure programs to drive improvements in infrastructure across Europe, as part of the Trans-European Transport Network—a planned set of road, rail, air, and water transport networks designed to serve the entire continent. Learn why the newest EU member states—Poland in particular—will get the lion’s share of EU funding for infrastructure.
- Japan and Middle East Affect Key European Property Markets
Published on April 13, 2011 in Capital Markets
In the immediate aftermath of Japan’s biggest earthquake, there is likely to be a repatriation of capital from overseas by Japanese investors in an effort to restore the country’s infrastructure. This is expected to draw away some investment from European property. Discover what real estate industry insiders are saying will counterbalance this upcoming decrease in European property investment.
- ULI Europe: Europe and the United States – the Next Ten Years
Published on February 16, 2011 in Market Trends
At the ULI Europe Paris 2011 conference in February, former Irish Prime Minister John Bruton said that, in addressing their nations’ economic troubles, Europeans see problems that cannot be fixed, whereas Americans see challenges for which solutions have not yet been found. Learn what he says about Europe’s banking crisis and how to get the monkey off the back of the European economy.
- ULI Europe: Making Sense of the Global Economy in 2011
Published on February 15, 2011 in Market Trends
In a session titled “Making Sense of the Global Economy in 2011” that took place at ULI Europe’s Paris 2011 annual conference in February, it was noted that the United States is recovering faster than Europe because U.S. policy has been much more aggressive in supporting the economy after the crash. Read what attendees had to say about the other challenge facing Europe—the sovereign debt crisis.
- ULI Europe: Around the World in 60 Minutes – Places People Are Investing
Published on February 15, 2011 in Market Trends
Panelists at a session titled “Around the World in 60 Minutes: Places People Are Investing” at the ULI Europe Paris 2011 annual conference in February said there is money to be made in both emerging markets and developed markets, but that the opportunities differ widely. Find out the specifics as well as which countries saw heavy investment in 2009 and 2010 and which saw the biggest declines.
- Attractiveness of European Commercial Property
Published on February 14, 2011 in Market Trends
Over the medium to long term, commercial property in Europe is believed to be a sound investment, owing to attractive valuations and the relative transparency of real estate markets there. And in today’s low-interest-rate environment, it can provide healthy, predictable cash returns and an opportunity for capital appreciation. Learn what else experts are saying about this important asset class.
- European Development Finance: How to Convince Your Banker
Published on December 02, 2010 in Capital Markets
The art of securing development finance in today’s market is to “think like a banker.” At least, that is how one prominent European lender sees it. “Don’t make margins your priority focus,” says Peter Denton, head of the London branch for German bank Westdeutsche ImmobilienBank. Read what advice Denton and others have for developers who are trying to improve their chances of securing development finance in Europe.
- Real Estate Investing: Commonsense Lessons From Glenn Rufrano
Published on October 27, 2010 in Capital Markets
A back-to-basics approach is the most sensible route for investors to take in the current climate, says Glenn Rufrano, president and chief executive officer of property consultant Cushman & Wakefield. Speaking from experience, New York–based Rufrano warns investors against overleveraging, as well as “betting the ranch,” as Lehman Brothers did. Read Rufrano’s advice about going back to basics.
- Basel III Banking Regulation and the Effects of Increased Reserves on Investment
Published on October 26, 2010 in Capital Markets
In response to the financial crisis that pushed several institutions to the verge of collapse, new rules have been drawn up by global financial regulators to improve banks’ stability and prevent a re-run of the downturn. Under the conditions of Basel III, banks must more than triple the amount of capital they hold in order to be able to survive future shocks. Read about which investments will likely become less viable prospects for banks under Basel III.
- Enriching Environments
Published on October 01, 2010 in Planning & Design
The winners of this year’s ULI Awards for Excellence: Europe, Middle East, and Africa (EMEA) competition share a common element: each is an innovative example of land use that significantly enriches its environment. Yet, it is the contribution of a host of factors that combines to entitle them to the prize, widely recognized as ranking among the land use industry’s most prestigious.
- ULI Europe Conference Explores Property Market Trends
Published on October 01, 2010 in Market Trends
The ULI Europe Trends Conference gave the 263 people attending a forum at which to explore political and economic trends that will shape property markets this year and beyond. Read what ULI members’ see coming and learn commonsense lessons from the opening keynote, “The Future of the Property Industry,” by Glenn Rufrano, president and CEO of Cushman & Wakefield.
- Cherry-Picking Deals in Europe
Published on September 01, 2010 in Capital Markets
Equity-rich sovereign wealth funds (SWFs) are one of the few investors in a position to take advantage of real estate opportunities presented by the global financial downturn. Who has, and where have they, been cherry-picking the best deals?
- LONDON: Standing Firm
Published on March 01, 2010 in Market Trends
Though London’s economy has been hit hard by the global recession, the city stands firm alongside New York City and Tokyo as one of three global financial centers and remains unrivaled as the business capital of Europe.
- Europe’s Office Forecast
Published on January 01, 2010 in Market Trends
Yields are stabilizing in certain european office markets, but investor caution continues, particularly in eastern europe.