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UPDATE 1-Investors to boost property purchases on U.S. growth -CBRE survey
2017年3月7日 / 晚上8点58分 / 7 个月前

UPDATE 1-Investors to boost property purchases on U.S. growth -CBRE survey

 (Adds comment)
    By Herbert Lash
    NEW YORK, March 7 (Reuters) - A majority of commercial real
estate investors plan to be net buyers this year, the highest
level since 2014, spurred by prospects of increased U.S.
economic growth and less regulation, a survey of investor
intentions showed on Tuesday.
    The percentage of investors who intend to buy property in
2017 rose to 67 percent from 65 percent last year and 60 percent
two years ago, according to a survey by CBRE Group Inc        ,
the world's largest commercial real estate services firm. 
    "Business is going to do better in the current environment,"
said William Shanahan, chairman of New York capital markets at
CBRE. "We're feeling this optimism has some real legs this time
around."
    The survey of institutional investors, private property and
private equity firms and others shows 83 percent plan to
maintain or increase their purchases this year.
    The survey showed the more conservative industrial sector,
such as warehouses and data centers, as the most attractive
asset class in 2017, garnering 38 percent of investor
intentions.
    Fifty-four percent of institutional investors, composed of
sovereign wealth, insurance and pension funds, plan on investing
more than $1 billion in commercial real estate, CBRE said. 
    U.S. gateway cities drew the most interest, with Los Angeles
maintaining the No. 1 preference, followed by Dallas-Fort Worth
and New York City.
    Still, investors remain concerned about asset valuations,
while they see global economic shocks and rising rates as the
greatest threats to property markets, CBRE said.
    The mostly positive outlook is corroborated by a record $144
billion that investors have allocated in 2017 for North American
property, CBRE said, citing London-based Preqin, a data and
analytics firm for alternative assets.
    Positive growth expectations, when compared with subdued or
little to no growth in the rest of the developed world, 
indicate continued strong capital inflows to the United States
this year, CBRE said.
    In a separate Preqin survey of more than 180 real estate
fund managers that echoed CBRE's findings, two-thirds of
investors intend to deploy more capital in 2017 compared with 
last year, and almost half plan to invest significantly more.
    Fund managers have record amounts of capital at their
disposal, which has pushed asset prices higher amid increasing
competition, Preqin said last week. Still, most firms say they
can find value in the current market, Preqin said.
    The CBRE Americas Investor Intentions Survey 2017 of 963
respondents was conducted between Jan. 6 and Feb. 6.

 (Reporting by Herbert Lash; Editing by Matthew Lewis and Lisa
Shumaker)
  

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