Private real estate: From asset class to asset

The purpose of this paper is to place private real estate in a multi-asset-class context and to explain the distinct characteristics of the asset class from the global market to the individual property asset. The paper comprises two key sections; the first explores the role of real estate in multi-asset portfolios and the importance of different measures of market risk when allocating to the asset class. The second section covers active risk focusing on the significance of strategic and asset-specific factors when investing domestically and across global markets. Together these themes represent critical considerations for real estate investors, and provide an important context for ongoing IPD research into the role of real
estate in multi-asset-class portfolios.