RealCast: Alternatives in the mainstream, life science space, senior living, infrastructure

In the spotlight this week:

Alternative real asset sectors. Life science property: UK REIT British Land, which posted its third straight year of annual losses despite collecting 71% of rents across its retail estate is targeting life sciences as part of its post-pandemic recovery plan. Life science property was also one of the themes discussed in a Real Asset Insight interview with the leader of Highland council in Scotland last week too.

Senior living: Meanwhile, Fortwell Capital has extended its relationship with Cain International to increase its lending capacity from £400 million to £500 million and senior living, is one of its focuses. Likewise, Peel L&P has announced it is to establish a later living platform and BlackRock has formed a JV with Audley Group, also aimed at this real estate sector.

Infrastructure features in a number of upcoming Real Asset Media summits, the first of which was staged last week. A recent PwC study reveals it as the fastest growing asset class globally with AUM in this sector is expected to at least double to two trillion dollars or more by 2025. It is a global phenomenon but some rate Europe best for opportunities in the infrastructure sector.

Affordable housing is another universal need and opportunities for public/private collaborations abound – in the UK there are 1.2 million people on waiting lists but only 50,000 houses under construction. One obstacle is the lack of clarity on the regulations surrounding the sector.

Nevertheless, CBRE Global Investors has raised additional capital for its UK Affordable Housing Fund. Elsewhere, Sweden’s Heimstaden Bostad has bought into Birmingham’s rented housing market, German housing giants Deutsche Wohnen Vonovia have agreed to merge in a deal that will create europe’s largest residential real estate group and Patrizia has bought into a major Berlin housing development.

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