A highly unusual year comes to an end in Europe after navigating war, historically high energy prices, and rising bank rates. Looking into 2023, the market will remain unpredictable but is starting out comparatively healthy. We believe disruption will drive opportunity and deep local presence helps ensure income resilience while we weather the storm.
We see potential in repositioning non-core value-add assets and undermanaged properties and no longer see a standout sector. The ability to understand nuances of quality within a product type has become more important. For Industrial, the fundamentals remain for the right assets. Living is looking beyond stable and regulated. There is a smaller pool of viable assets in Office. And Retail is faring better than one might think.
Disruption provides the opportunity to double-down on resiliency for investors and occupiers and for us, a central thread of ESG runs through our responsible real estate investing.
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