'Don't be surprised to see an export of talent from the US.'
By
Anthony J. LoPinto
|
Updated on January 09, 2007
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Perspective
This week, the Business Section of the Sunday New York Times ran an article entitled, “The Coming of Age for the Global Real Estate Market.” The article called out the growing opportunities for real estate securities investors in nascent markets like Britain, Germany, France, Canada, Japan, Hong Kong, Australia and even South Africa. According to the article, many of these markets have had stellar performance records, but the real estate is strictly of the local product variety. This comes at a time when US REITs and private developers are focused increasingly on, and welcomed into, foreign markets, with China at the top of the list. This trend not only promises higher yields for the expanding company but also satisfies an appetite for US-quality projects. But it goes beyond brick and mortar. A US presence in these markets fills a very thin pool of professionals capable of managing more sophisticated development securitization and finance plays. Don’t be surprised to see an export of talent from the US to fill the need in hot spots like China. Without the internal expertise to take real estate to the next level, foreign markets need and welcome us.
Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders.The views expressed in this article are the author’s own.
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