This is an HTML version of an article that ran in the July/August 2013 issue of Real Estate Forum. To see the original story, click here.
Ask some of the nation's biggest investors what they're most worried about these days, and the answer won't be much different than prior years. Political and economic uncertainty. Interest rates. Job growth. And—this year at least—pricing. That is, what will happen to pricing now that everyone's looking be more aggressive in terms of acquisitions.
That's right; after several years of playing it safe, institutional capital is once again looking to dominate the market. Where, when and how to place their capital is what most of the conversation centered around during the 17th Annual Transwestern/Real Estate Forum Institutional Investor Symposium, held this past June in Washington, DC. The event brought together decision makers from some of the nation's top institutions for a frank and lively discussion of the environment for business. Here's some of what they had to say.
PANELISTS (from left):
- Kevin Smith is senior managing director and head of US business for Prudential Real Estate Investors in Madison, NJ. The company has about $53 billion in real estate equity investments globally, with $32.2 billion of that in the US.
- William Carlson is senior managing director of the real estate group for Cigna Investment Management in Hartford, CT. As of June 30, 2013 the firm had approximately $5 billion in domestic real estate assets, split into $2 billion in equity and $3 billion in debt.
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Sule Aygoren
Aygoren oversees the editorial direction and content for ALM’s Real Estate Media Group, including Real Estate Forum and GlobeSt.com. In her tenure with ALM, she’s held roles of increasing responsibility, including Managing Editor. Aygoren has received several awards for her coverage including Best Trade Magazine Report from the National Association of Real Estate Editors and the James D. Carper Award for Young Journalists. Under her direction, Forum has received four national NAREE awards for Best Commercial Real Estate Trade Magazine.
