In this issue, we have included: 
 

Lastly, we would like to thank our working group who helped putting together the Newsletter.

For details of this working group, please click here

ANREV is pleased to present its 2015 year-end newsletter for Japanese market which includes Chief Executive's message from Alan Dalgleish, a rounds up of the Association's activities and achievements in Japan in 2015.

ANREV代表のアラン・ダグリッシュより年初のご挨拶を申し上げると同時に、2015年度の日本におけるANREVの活動内容をご報告いたします。

ANREV is pleased to present the results of its third global Investment Intentions Survey with a specific focus on non-listed real estate funds. The survey was conducted in conjunction with the European Association for Investors in Non-listed Real Estate Vehicles (INREV) and the Pension Real Estate Association (PREA). By joining the forces of all three organizations, the survey is able to present a truly global view on expected trends and investment intentions within the real estate industry. This is the ninth edition of the regional survey which attracted 221 respondents in Asia Pacific compared to 205 in 2015: 96 investors (44%), 14 fund of fund managers (6%) and 111 fund managers (50%).

Chapter 2 explores global real estate allocations, providing insight into investment trends globally, and is based on the full sample of respondents. This is a joint chapter that can also be found in the INREV and PREA 2015 Investment Intentions reports.

Chapters 3 through 6 focus on the Asia Pacific real estate market, including insights on preferred structures, markets, sectors, and styles. These chapters are based only on those investors, fund managers, and fund of fund managers who are already invested in the Asia Pacific market or intend to do so in the next two years.

In the final chapter, for the second time we have invited Real Capital Analytics (RCA) to present its analysis of the relationship between the predictions within ANREV Investment Intentions Survey 2015 and the investment activities that followed in the past year, using its database of global transactions in that particular year.

Best performance of Australian funds since inception of the ANREV index

• Australian funds return 4% in Q3 2015
• Core funds return 3.4%, up for four consecutive quarters
• All funds return 2.2 % for Q3 2015

Data contributions were received from 94 funds with a total gross asset value of US$90.5 billion. Further detail of the sub-indices which cover fund style and various geographies can be found in the full report.

We would like to thank all the companies that supported the data collection exercise and look forward to your continued support in the next round of data collection in February.

To participate in the ANREV Index, please contact Amélie Delaunay at [email protected] or Henry Lam at [email protected] to take part in this industry-led initiative or if you have any questions about the ANREV Index.

It is an index showing the performance of non-listed real estate funds on a global scale and is created by ANREV, INREV and NCREIF. This publication includes the performance figures up to Q3 2015.

The GREFI was updated for the first time on a quarterly basis following the first quarterly release of the ANREV Index for Q1 2014. From Q1 2014 onwards, the GREFI has been updated 12 weeks after the quarter end. This index release follows the same structure of previous releases. The technical specification has also updated and all numbers are also available in an Excel file.

The GREFI Q3 2015 update release includes the performance of 454 funds compared to 389 funds as of Q2 2015. This difference is due to the inclusion of US closed ended value-added and global funds for the first time (global funds that have a global target strategy).

Please send your feedback on this consultation release to [email protected].

The ibis Novena Hotel Singapore was awarded BCA Green Mark Platinum Award by the Building Construction Authority of Singapore in March 2015. It is an international 3 star, 10-storey, 241 room hotel completed in April 2011. It sits on four contiguous freehold sites located in the heritage-rich Balestier and Novena area. The hotel is within ten minutes walk to Novena MRT station, just 6 stations away from the Central Business District in Raffles Place and 2 stations away from the main shopping district at Orchard Road.

This is a sustainability case study on improving building energy efficiency. It was a partnership between GPT, the manager of 800-808 Bourke Street, Melbourne and its tenant, National Australia Bank (NAB). The programme commenced in 2012 and the building has since cut its energy use by 29 per cent.

In this issue, we have included: 

Lastly, we would like to thank our working group who helped putting together the Newsletter.

For details of this working group, please click here

This is the first fund termination study done by ANREV. The survey intend to examine the options fund managers consider as the termination date of their fund approaches. The survey covers funds that are due to terminate in the coming two years together with funds that have been liquidated previously. We received participation from 35 funds managers about 52 non listed funds in Asia Pacific with a combined gross asset value (GAV) of US$17.2 billion.