January 2010 Research Note, "Putting the Recent Performance of the Private Equity Real Estate Market in Context and Looking Ahead"

Abstract

Private equity core real estate values declined rapidly from June 30, 2008 to December 31, 2009, according to the most recent data available from the National Council of Real Estate Investment Fiduciaries. This Research Note puts the current real estate downturn in context by comparing it to the last major real estate downturn. It notes the value of examining public real estate securities to gain insight about where private real estate values are likely to be heading. The issue concludes with some observations about the outlook for the private equity real estate market.

This Research Note is the first of two issues on real estate. The March 2010 Research Note addresses concerns about the potential impact of commercial-real-estate-debt maturities on real estate portfolios.

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