Jonathan Brasse
Jonathan Brasse is the Senior Editor, Real Estate for PEI Media’s real estate publications. He oversees the editorial output and leads the reporting team behind the sector-leading private real estate publication PERE as well as Real Estate Capital, the group’s real estate credit markets publication. Jonathan joined PEI in 2009 from UK commercial property magazine Property Week where he oversaw international news and analysis coverage.
Ronald Dickerman, founder of the direct secondaries real estate firm, thinks private real estate’s secular repricing is still several quarters away.
The firm has followed the recruitment of an Asia real estate head on the direct side with a second appointment intended to lead its indirect investments in the region.
Ron Dickerman, founder of real estate direct secondaries firm Madison International Realty, says a pause on all but the best growth-oriented investments is necessary while central banks bring inflation under control.
A successful fundraising by the secondaries business would help to prove investors are not concerned about a conflict of interest.
Inheriting an indirect property business when that market is dominated by recapitalisation deals brings further conflict challenges that must be reconciled.
The latest secondaries capital raising by the firm further demonstrates increasing appetite for buying properties from tail-end funds.
But is the firm’s Swiss secondaries rival paying as much attention these days?
End-of-life restructurings and stapled secondaries are proliferating in the private real estate market, according to Samantha Lake Coghlan, partner at law firm Goodwin.
The Zug-based private markets investment firm is plotting a final closing around the end of the year, approximately the same time as its nearest rival.
The real estate fund of funds manager had explored an asset sale on the secondaries market last year.
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