Principal Asset Management Plans Increased Activity in Asia-Pacific Property Markets
Principal Asset Management intends to boost its involvement in Asia-Pacific property markets, noting that investors have been underweight in the region's office property segment, according to the South China Morning Post.
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According to the South China Morning Post, Principal Asset Management, a US-based money manager, is preparing to increase its engagement in property markets across the Asia-Pacific region. The firm believes that investors have maintained an underweight position concerning the office property segment within that region.
Richard Hill, who serves as the senior managing director and head of global real estate research and strategy for the group, stated that the organization is observing ongoing interest from institutional investors in the Asia-Pacific region who are seeking to access opportunities in US commercial real estate because it is considered too large to overlook.
During an interview, Hill commented that through his global travels and meetings with investors in the US, Europe, and the Middle East, he has observed that investors are becoming aware of the fact that they are structurally underweight in the Asia-Pacific region when compared to its proportion of total global commercial real estate valuations.
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