As this edition of IQ goes to print, I am reaching my one-year anniversary as INREV’s CEO. It’s been very valuable to engage with many INREV members and establish a better understanding of what is required to build an INREV that continues to meet members’ needs.
I’ve appreciated your openness, whether through the Vision Project, the annual Membership Survey, or meeting you face-to-face. This feedback has played an intrinsic part in the shaping of the next INREV Business Plan.
We’ve also just passed the 10-year anniversary of the Global Financial Crisis, and this edition of IQ highlights some important changes that have taken place in non-listed real estate since then. We see investors’ business models are evolving and new actors have appeared on the landscape, including family offices as featured in the Member Profile for Martin Lemke. Meanwhile, traditional real estate investors have become more sophisticated and capital flows into the sector have become increasingly global.
INREV has played its part in this evolution, specifically by increasing market transparency in Europe, and globally with our strategic partners.
This IQ’s article on ‘A see-through asset class’ focuses on the Management Fees and Terms Study and the Due Diligence Questionnaire, which have both helped improve communications and encourage greater alignment between managers and their investors.
The application of technology to non-listed real estate is an area that is clearly becoming more important for many of you
But we are not resting on our laurels. We know that we must continue to improve market transparency, by expanding INREV’s data resources and leveraging members’ data even more effectively. So we are forging ahead with the Asset Level Index (see article in this IQ) and putting in place an IT road map that aims to give members easier access to all of the INREV data, research and standards.
Rui Mendes (see Staff Profile) will be driving this forward in the new role of Digital Product Manager. The application of technology to non-listed real estate is an area that is clearly becoming more important for many of you. This is reflected in the plans set out by INREV’s new Technology and Innovation Committee, and it will also be a key theme for the upcoming Autumn Conference in Madrid where some of the most prominent and senior thought leaders will take us on a journey to embrace the alternatives and future proof the real estate industry. I look forward to seeing many of you there.
Lonneke Löwik, INREV Chief Executive Officer