The ANREV / INREV / NCREIF Capital Raising Survey 2016 explores capital raising activities into the non-listed real estate industry in 2015. The particular focus of the report is on Asia Pacific vehicles. The survey provides insights by region, product type, investment strategy, and where possible presents a historical comparison based on previous studies.

The 2016 survey attracted a record number of participants with 153 fund managers globally completing the questionnaire, a 7.8% increase compared to 2015 when 142 fund managers responded to the survey. In total, the majority (85 or 55.6%) of fund managers were from Europe, followed by those domiciled in Asia Pacific (46 or 30.1%) and North America (22 or 14.4%). 

Highlights:

• US$134.8 billion of new equity raised for non-listed real estate in 2015
•  Non-listed real estate vehicles continue to attract investors of all types
• Pension funds are the biggest source of capital globally 
• Europe was the most popular target market
• US$18.4 billion raised for Asia Pacific

ANREV, INREV and NCREIF would like to thank fund managers for their participation in the Survey.

For further information please contact [email protected]

In 2010, Deutsche Asset Management’s (Deutsche AM) real estate business acquired G-Square, a 6,800 square meter office building in Tokyo.

Upon acquisition, G-Square underwent improvements to upgrade the building in order to qualify and apply for the CASBEE (Comprehensive Assessment System for Built Environment Efficiency).

Similar to BREEAM in the U.K. or LEED in the U.S., CASBEE is a tool for assessing and rating the environmental performance of buildings and built environment in Japan. BEE (Building Environment Efficiency), using Q and L as the two assessment categories, is the core concept of CASBEE. The assessment results for buildings can be ranked on a diagram as class C (poor), class B-, class B+, class A, and class S (excellent), in order of increasing BEE value.

Earning a CASBEE (Comprehensive Assessment System for Built Environment Efficiency) “A” rank is an important differentiator among a tenant base in the Shibuya submarket. This will attract younger, creative technology companies that focus more on modern, healthy workplaces and resource efficiency.

Many thanks for your continued support to ANREV Young Professional Initiatives (YPI) over the past years. To date, the YPI has been aimed at building a sustainable exchange allowing younger professionals like yourself within the industry to network, keep current and be nurtured through various programs.

We are glad to announced that the ANREV Young Professionals Mentorship Program 2016 is now accepting applications from mentees. The mentorship program will allow you to foster an exchange of professional ideas and mentorship with experienced, senior management members within the unlisted real estate funds industry. The mentors within the program come from various backgrounds and from well established firms within the ANREV membership. 

Please submit your application by completing the mentee application form and send to ANREV Executive Office on or before 18 March 2016.

Taking advantage of the wholesale conversion scheme by the Hong Kong Government, Pamfleet acquired an industrial building at 164 Wai Yip Street in Kwun Tong and re- positioned it as a quality office property. The building went through the process of BEAM plus certification, a green building certificate issued in Hong Kong.

The document is a distillation of information provided to ANREV by non-listed property vehicles, as well as publicly available information of other non-listed property vehicles, in order to give a view on the size and composition of the Asia Pacific non-listed property funds market over a particular period of time.

If you have any questions, please contact Henry Lam at [email protected]

Sydney’s Masters Home Improvement store at Chullora Business Park, New South Wales, Australia, is a unique and outstanding example of the adaptive reuse process. Goodman has redeveloped a former vacant and redundant warehouse into a new, modern retail facility, whilst retaining elements of the original building.

In this issue, we have included: 
 

Lastly, we would like to thank our working group who helped putting together the Newsletter.

For details of this working group, please click here

ANREV is pleased to present its 2015 year-end newsletter for Japanese market which includes Chief Executive's message from Alan Dalgleish, a rounds up of the Association's activities and achievements in Japan in 2015.

ANREV代表のアラン・ダグリッシュより年初のご挨拶を申し上げると同時に、2015年度の日本におけるANREVの活動内容をご報告いたします。

ANREV is pleased to present the results of its third global Investment Intentions Survey with a specific focus on non-listed real estate funds. The survey was conducted in conjunction with the European Association for Investors in Non-listed Real Estate Vehicles (INREV) and the Pension Real Estate Association (PREA). By joining the forces of all three organizations, the survey is able to present a truly global view on expected trends and investment intentions within the real estate industry. This is the ninth edition of the regional survey which attracted 221 respondents in Asia Pacific compared to 205 in 2015: 96 investors (44%), 14 fund of fund managers (6%) and 111 fund managers (50%).

Chapter 2 explores global real estate allocations, providing insight into investment trends globally, and is based on the full sample of respondents. This is a joint chapter that can also be found in the INREV and PREA 2015 Investment Intentions reports.

Chapters 3 through 6 focus on the Asia Pacific real estate market, including insights on preferred structures, markets, sectors, and styles. These chapters are based only on those investors, fund managers, and fund of fund managers who are already invested in the Asia Pacific market or intend to do so in the next two years.

In the final chapter, for the second time we have invited Real Capital Analytics (RCA) to present its analysis of the relationship between the predictions within ANREV Investment Intentions Survey 2015 and the investment activities that followed in the past year, using its database of global transactions in that particular year.