IPE Real Assets
Top 150 Real Estate Investment Managers: Cohen & Steers: REIT champion embraces private markets
Chief Executive Officer Joe Harvey spoke with IPE Real Assets for a firm profile discussing the transition from being a founder-led firm to the next generation and opportunities arising from the macroeconomic regime shift. He discusses why combining listed and private real estate can lead to better portfolios and how Cohen & Steers is helping clients access opportunities at the intersection of listed and private real estate.
Please see important disclosures and risks below.
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Risks of Investing in Private Real Estate. Private real estate investments are illiquid and susceptible to economic slowdowns or recessions and industry cycles, which could lead to financial losses and a decrease in revenues, net income and assets. Lack of liquidity in the private real estate market makes valuing underlying assets difficult. Appraisal values may vary substantially from a price at which an investment in real estate may actually be sold.
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. No representation or warranty is made as to the efficacy of any particular strategy or fund or the actual returns that may be achieved.
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