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22 // iberian.propery / 2017
dossier// ISSUE: TOP IBERIAN Investors
One of the main challenges for investors is to
find the right asset class to invest in while ob-
taining the proper balance between risk and
return. Furthermore, it is essential to have the
right management team who can design and
execute an optimal investment strategy. In the
Iberian real estate market, it is essential to in-
vest through a local team with expertise in the
chosen real estate segment.
In order to achieve a successful multi-country
investment strategy it is important to find certain
synergies between the countries involved in
that strategy. Not every real estate industry can
generate synergies across countries, nor are the
asset manager’s skills transferable enough to
be effective outside their country of origin. The
hotel industry is one of the few segments where
this actually occurs. In this industry, you can
achieve synergies, given that in many cases your
tenant can be the same across countries, such
as large hotel operators that operateworldwide.
In addition, a Pan-Iberian strategy has the added
advantage of geographical proximity, a single
and the EU framework, as well as the crucial
fact that we both serve the same tourism source
markets in Europe.
Cristina García-Peri
Hispania
General Manager
The hotel industry is
one of the few segments
where you can achieve
synergies in the real
estate industry
Real estate in Spain has become one of themost
attractive sectors for investors in the last fewyears.
We see commercial centres and logistics top
investors’ preferences. This is particularly the case
of shopping centres,where sales andvisitors have
been growing lately thanks to economic recovery,
increasing confidence amongSpanish consumers
and job creation in the country.
Still, investment in real estate faces significant
challenges that need to be addressed. Asset
improvement is one of these challenges; this
does not imply only building refurbishment and
enhanced environmental efficiency, but also the
way the assets are managed. In this context,
asset managers are key to improve the asset’s
capacity to generate higher revenues, whether
it is shopping centres, offices or logistics.
The other main challenge is how real estate
assets adapt to new technologies. Again, this is
especially true for shopping centres and logistic
buildings and how they take advantage of online
distribution. The need to improve the custom-
er experience is another significant challenge
for the retail sector; shopping centres need to
attract customers with a varied offer, such as
through different leisure options or making the
shopping centre an appealing place to spend
time, including attractive outdoor areas.
I believe real estate players in Spain are fully
aware of these challenges and we are already
working to transform them into opportunities to
grow and make the sector even more attractive
for investment.
Miguel Pereda
Lar España
Director