Returns from value-added and opportunistic real estate funds have been exceptional and could continue through 2018. But a deceleration is in the cards, says an expert PrivcapRE panel.

GPs are urged to be more realistic about fund returns by changing their target for each successive fundraise, to reflect changing market conditions.

LPs in value-added and opportunistic RE funds should demand GPs report unlevered returns, a panel of performance experts tells PrivapRE.

GPs need to focus on the language of their waterfall calculations to avoid LPs coming knocking at their door years later.

Off-market real estate deals don’t exist, given the massive capital flows targeting U.S. real estate, but there are ways for firms to gain an edge over rivals.

From the PrivcapRE webinar ‘Co-investment: The Ultimate Portfolio Tool?’

Three experts talk sourcing and underwriting in today’s competitive markets, and what makes a successful transaction.

Buying retail centers where 86 percent of the leases roll within 18 months, or where occupancy is just 31 percent, might seem daunting for some. But for others, it’s an opportunity.

Diversification in real estate has fundamentally changed, says Courtland’s Michael Humphrey, and even the largest investor can end up with a “lumpy” portfolio.

As deals become harder to source, U.S. mezzanine debt investors and lenders are moving to secondary and tertiary markets, and taking on extra risk, to offset yield compression in the sector.

An in-depth discussion of how investors view the role of co-investment, and its impact on portfolio construction.

Europe’s core markets are set to experience a “liquidity tsunami,” but the opportunity could be gone within two years, says M7 Real Estate CEO Richard Croft.

Fundraising for closed-ended real estate funds in 2015 will continue to flow into the hands of fewer, but larger, GPs

Siguler Guff’s James Corl tells PrivcapRE about the firm’s ability to shut down a fund’s investment period and cap fund sizes.

Dune Real Estate Partners CIO Cia Buckley Marakovits on the firm’s willingness to take concentration risk and the impact of doing just four or five deals a year on the firm’s latest $960M fund.

Commercial real estate in 2025 will be an asset class transformed by technological, political and economic changes. However, global capital flows could have the greatest impact of all, according to a U.K.-based real estate academic.

Operating partners are seeing deals being “bid up like crazy,” thanks to pricing pressures and capital flows into U.S. real estate markets. Today it’s all about being selective, building property-specific pipelines, and presenting a “good story” backed by fundamentals.

Leaving Morgan Stanley to manage the pension’s $29.6B portfolio

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Morgan Stanley’s Paul Mouchakkaa has been named head of CalPERS $29.6B real assets portfolio.

As senior investment officer, Mouchakkaa will oversee real estate, infrastructure and forestland, and manage roughly 60 investment staff and 81 GP relationships.

Thomas McDonagh has been…