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Mipim DISPATCH: US-Based Fund Manager Shoots for Global REIT Market

CANNES-In an exclusive interview at Mipim here last week, Cohen & Steers CEO Martin Cohen envisioned a time when investors can tap into REIT activity on a global basis and do so with ease. He's clearly doing his part to make that happen...and broaden his firm's global network in the process.

By John Salustri | Updated on March 11, 2005

CANNES-Cohen & Steers, the New York City-based REIT manager, made global news in December with its acquisition of 50% of the capital stock of Belgium-based Houlihan Rovers SA. At the time, he mentioned plans to launch several new global real estate securities initiatives in 2005.

In an exclusive interview with GlobeSt.com at Mipim here last week, he elaborated on those initiatives. “We’re looking at the major continents of Asia, Europe and South America,” he said, adding that no specific vehicles can be identified as yet.

Asia–and Hong Kong specifically–might see the first fruits of that push. Much of the work that the firm has cut out for itself is being handled through the offices of Houlihan Rovers, which, Cohen explains, is currently “following REITs in Asia.” It is possible however, that an Asian vehicle might be a ground-up creation rather than an acquisition structure similar to that of the Houlihan Rovers venture.

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