Compromise is the key for private real estate amid the COVID-19 pandemic
The manner in which the U.K. real estate industry has managed to carry on its business, despite the enormous challenge presented by social distancing has come as a pleasant surprise to the roundtable participants.
Most everyday operations at the participants’ firms have been digitized already, making the transition to remote working smoother than it might have been otherwise. However, embarking on new business remains challenging. Investors have been innovating to try to keep fundraises and portfolio deals alive. Technologies that support secure digital record-keeping and property transfer could draw increased industry attention.
Given the wall of capital that is still out there chasing yield, and that, at the moment, other asset classes are suffering as badly as real estate, if not more so, the opportunity gap could close quite quickly and 2021-22 could be back to a full-strength market.