Global Real Estate: One Size Doesn't Fit All

August 29, 2023

Global Real Estate: One Size Doesn't Fit All

Tales From the Emerging World

Global Real Estate: One Size Doesn't Fit All

August 29, 2023

In June, one of New York’s most prominent real estate owners ceased making payments on a $240 million loan and instead handed back the keys to 61 Broadway, an iconic building near Wall Street with 40 stories of office space. It was the latest in a succession of major institutional owners choosing to walk away from trophy buildings and costly mortgages as they wrestle with post-pandemic changes in workplace habits. But beyond the headlines, the story of global real estate is more nuanced.

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RISK CONSIDERATIONS
There is no assurance that a portfolio will achieve its investment objective. Portfolios are subject to market risk, which is the possibility that the market values of securities owned by the portfolio will decline and that the value of portfolio shares may therefore be less than what you paid for them. Market values can change daily due to economic and other events (e.g. natural disasters, health crises, terrorism, conflicts and social unrest) that affect markets, countries, companies or governments. It is difficult to predict the timing, duration, and potential adverse effects (e.g. portfolio liquidity) of events. Accordingly, you can lose money investing in this portfolio. Please be aware that this portfolio may be subject to certain additional risks. In general, equities securities’ values also fluctuate in response to activities specific to a company. Investments in foreign markets entail special risks such as currency, political, economic, market and liquidity risks. The risks of investing in emerging market countries are greater than the risks generally associated with investments in foreign developed countries.

Jitania Kandhari

Head of Macro & Thematic Research, Emerging Markets

Audrey Muhirwa

Analyst,

Emerging Markets Equity Team

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