17 March 2021
In response to the profound impact Covid-19 is having on our society and investment landscape, international real estate publication PERE decided to look into the definition of core real estate with Bouwinvest, APG and RCLCO. What is core real estate? How has Covid-19 changed the way investors think about core real estate as an investment style?
“Core real estate has changed. In the UK market core real estate used to be a city-centre office building let on a 25-year lease to a bank,” said Graeme Torre, Managing Director APG Asset Management, in a video interview with PERE. Stephen Tross, Chief Investment Officer International Investments at Bouwinvest, sees a similar trend.
Core real estate used to be about “location, location, location”, but it is now a moving target, he said. “The definition is constantly evolving. It’s not one type of asset, tenant or location. Even when you hold core real estate for the longer term, you still have to think about the future and the future use of that asset.”
Watch the full video below