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Brian Klinksiek, Global Head of Research and Strategy (L) and Eduardo Gorab, Head of Global Portfolio Research and Strategy, LaSalle Global Solutions (R), take a look at the why and how behind building diversified and resilient global real estate portfolios.
The art and science of portfolio construction matters most when market conditions change suddenly. This has never been truer than in the past few years, which saw major pivots in capital markets as policymakers shifted from trying to stimulate the economy at the start of the pandemic, to applying the breaks to prevent inflation running out of control. The speed and unpredictability of these changes highlights the importance of planning ahead by thinking carefully about how to create portfolios that can be expected to be resilient. Foundational concepts of portfolio management such as diversification and risk management should be considered alongside an investor’s objectives and values to devise a strategy for their portfolio.It is with these factors in mind that we release first edition of LaSalle’s ISA Portfolio View, which seeks to answer five foundational questions about real estate:
Why real estate lays out the case for property exposure in a multi-asset context?
- Why global considers the benefits of expanding horizons beyond an investor’s domestic market?
- Why be sector smart tries to make sense of the recent changes in relative sector performance with an eye to building resilient portfolios?
- Why be quadrant smart addresses the interplay among the “four quadrants” of real estate?
- Why manage risk explores the importance of—and our approach to—managing investment risk?
In many ways the ISA Portfolio View is the continuation of a longstanding strand of LaSalle’s analysis that would typically form the latter chapters of the Investment Strategy Annual. In this new standalone edition, we draw from a deep pool of experts from around the firm, acknowledging the interconnectedness of real estate opportunities: across borders, across sectors, and across quadrants. We welcome your questions and feedback.
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LaSalle has taken reasonable care to ensure that the information contained in this publication is accurate and has been obtained from reliable sources. Any opinions, forecasts, projections or other statements that are made in this publication are forward-looking statements. Although LaSalle believes that the expectations reflected in such forward-looking statements are reasonable, they do involve a number of assumptions, risks and uncertainties. Accordingly, LaSalle does not make any express or implied representation or warranty, and no responsibility is accepted with respect to the adequacy, accuracy, completeness or reasonableness of the facts, opinions, estimates, forecasts, or other information set out in this publication or any further information, written or oral notice, or other document at any time supplied in connection with this publication. LaSalle does not undertake and is under no obligation to update or keep current the information or content contained in this publication for future events. LaSalle does not accept any liability in negligence or otherwise for any loss or damage suffered by any party resulting from reliance on this publication and nothing contained herein shall be relied upon as a promise or guarantee regarding any future events or performance.
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Why real estate lays out the case for property exposure in a multi-asset context? 
Why global considers the benefits of expanding horizons beyond an investor’s domestic market? 
Why be sector smart tries to make sense of the recent changes in relative sector performance with an eye to building resilient portfolios? 
Why be quadrant smart addresses the interplay among the “four quadrants” of real estate? 
Why manage risk explores the importance of—and our approach to—managing investment risk? 
Apr 17, 2024
ISA Briefing: Climate risk in practice: Regional, market and asset-level views
Recognition has grown substantially in recent years that climate risk can shape real estate investment outcomes.
