6 minute read
November 2022
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Environmental, social and governance issues present demonstrable risks and opportunities for real estate. Khalid Husain, Head of ESG, and Jan Willem van Kranenburg, Senior Analyst, discuss how our integrated ESG approach at Cohen & Steers assesses and values these topics as part of our investment approach among different real estate sectors and companies.
ABOUT THE AUTHORS
Khalid Husain, Senior Vice President, is Head of ESG.
FURTHER READING
The commercial real estate debt market: Separating fact from fiction
Recent stress in the banking sector is not a systemic commercial real estate (CRE) debt problem, and the risk of loss to lenders likely will be smaller than many believe.
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Strategies with inherent tax efficiencies may help investors diversify sources of income and potentially keep more of what they earn.
Why we see favorable entry points emerging for REITs
Listed REITs have likely priced in a recession; Our analysis points to a recovery next.
Please see important disclosures and risks below.
The views and opinions are as of November 2022 and subject to change without notice and represent an assessment of the market environment at a specific point in time, should not be relied upon as legal, investment or tax advice and is not intended to predict or depict performance of any investment. We consider the information to be accurate, but we do not represent that it is complete or should be relied upon as the sole source of appropriateness for investment. Investors should consult their own investment professional with respect to their individual circumstances.
Data quoted represents past performance, which is no guarantee of future results. There is no guarantee that any historical trend illustrated above will be repeated in the future, and there is no way to predict precisely when such a trend will begin. There is no guarantee that a market forecast made in this commentary will be realized. Diversification does not assure a profit nor protect against loss.
Risks of Investing in Real Estate Securities
Risks of investing in real estate securities are similar to those associated with direct investments in real estate, including falling property values due to increasing vacancies or declining rents resulting from economic, legal, political or technological developments, lack of liquidity, limited diversification and sensitivity to certain economic factors such as interest rate changes and market recessions. Foreign securities involve special risks, including currency fluctuations, lower liquidity, political and economic uncertainties, and differences in accounting standards. Some international securities may represent small- and medium-sized companies, which may be more susceptible to price volatility and less liquidity than larger companies. Cohen & Steers Capital Management, Inc. (Cohen & Steers) is a registered investment advisory firm that provides investment management services to corporate retirement, public and union retirement plans, endowments, foundations and mutual funds.
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