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Macro and capital markets, Portfolio construction, Product insight, Real estate performance, Research

ISA Portfolio View 2023

August 2, 2023
An overhead view of New York City
  • 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.

    Important Notice and Disclaimer

    This publication does not constitute an offer to sell, or the solicitation of an offer to buy, any securities or any interests in any investment products advised by, or the advisory services of, LaSalle Investment Management (together with its global investment advisory affiliates, “LaSalle”). This publication has been prepared without regard to the specific investment objectives, financial situation or particular needs of recipients and under no circumstances is this publication on its own intended to be, or serve as, investment advice. The discussions set forth in this publication are intended for informational purposes only, do not constitute investment advice and are subject to correction, completion and amendment without notice. Further, nothing herein constitutes legal or tax advice. Prior to making any investment, an investor should consult with its own investment, accounting, legal and tax advisers to independently evaluate the risks, consequences and suitability of that investment.

    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.

    By accepting receipt of this publication, the recipient agrees not to distribute, offer or sell this publication or copies of it and agrees not to make use of the publication other than for its own general information purposes.

    Copyright © LaSalle Investment Management 2023. All rights reserved. No part of this document may be reproduced by any means, whether graphically, electronically, mechanically or otherwise howsoever, including without limitation photocopying and recording on magnetic tape, or included in any information store and/or retrieval system without prior written permission of LaSalle Investment Management.

Jun 18, 2024 European market view: June 2024 Cyclical shifts and geopolitical risks are defining the real estate investment landscape in Europe.
London city view
Jun 03, 2024 PERE roundtable: UK Real Estate LaSalle’s Dan Mahoney sat down with peers from across the industry to discuss the state of the UK real estate market.
May 14, 2024 An introduction to real estate debt Investors seeking reliable income streams and stability are increasingly turning to real estate debt investments.

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