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Publicação
Real estate risk management at BPI Ga
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| 4.92 MB | Adobe PDF |
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Resumo(s)
This paper determines the fundamental drivers that impact the CRE asset class, based on the analysis of a Portuguese Real Estate open-end fund. We developed a tailored risk management approach that considers both macro and micro risks–market and asset-specific, respectively. The material micro drivers analysed are vacancy, tenant, asset concentration, liquidity and ESG(environmental, social and governance factors). The results support the previous drivers' relevance on CRE capitalization rates and demonstrate the significant benefits inherent to adding Real Estate Investment Trusts to the portfolio.
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Palavras-chave
Esg Supermarkets Fundamental analysis Real estate Risk management