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October 22, 2020 | Global Equity
Active Perspectives on Global Real Estate

CFA, Partner, Portfolio Manager, Global Research Analyst

Alaina Anderson, CFA, partner, is a portfolio manager for the International Leaders and International Leaders ADR strategies. Previously, she was a global research analyst covering real-estate, utilities, and engineering companies. Before joining William Blair in 2006, she was a senior analyst in the investments department of the MacArthur Foundation, where she provided research support for internally managed portfolios and was involved in investment manager due diligence, selection, and monitoring for the foundation’s U.S., non-U.S., and hedge-fund portfolios. Before joining the MacArthur Foundation, Alaina was an investor relations consultant with Ashton Partners and a financial advisor with UBS Painewebber. She is a fellow of Leadership Greater Chicago, a board member of the North Lawndale Employment Network, and a member of the CFA Institute and the CFA Society Chicago. Alaina received a B.S. from the Wharton School at the University of Pennsylvania and an M.B.A. from the University of Chicago’s Booth School of Business.

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Global real-estate stocks have performed poorly given uncertainty surrounding the dependability of cash flows as we navigate the COVID-19 pandemic. But as crisis forces adaptation, we look for innovation from well-capitalized and thoughtful real-estate operators as well as consolidation across property types.

Watch the video or read the recap below.

Global real estate stocks have been one of the worst-performing sectors given uncertainty surrounding the dependability of those cash flows as we navigate the COVID-19 pandemic.

You can imagine it’s costly to retrofit real-estate assets for the current environment, which likely requires more distance and privacy rather than openness and accessibility.

As crisis forces adaptation, we look for innovation from well-capitalized and thoughtful real-estate operators as well as consolidation across property types.

Within retail real estate, in the near term we expect owners of retail real estate to look to preserve cash; in the intermediate term, we would expect them to invest with their tenants to deliver an omnichannel experience for shoppers while continuing to consolidate space.

Logistics real estate has been resilient and multifamily property has remained quite stable.

Logistics real estate has been resilient and in this time of dislocation has seen increased importance as a key component of the e-commerce supply chain. As we all consume more goods off premise in this time of isolation, logistic operators who own the right locations, have the right tenant base, and have invested in technology will continue to thrive.

As we contend with quarantine globally, multifamily property has remained quite stable. Some operators have had to and will have to manage rent holidays for tenants, as well as new investments related to health and hygiene.

Student housing, however, has been hard hit, and the outlook is uncertain given lower expected international student arrivals in the U.S. and in the U.K. and general uncertainty around the delivery of instruction on college campuses.

Alaina Anderson, CFA, partner, is a portfolio manager and research analyst on William Blair’s Global Equity team.

CFA, Partner, Portfolio Manager, Global Research Analyst

Alaina Anderson, CFA, partner, is a portfolio manager for the International Leaders and International Leaders ADR strategies. Previously, she was a global research analyst covering real-estate, utilities, and engineering companies. Before joining William Blair in 2006, she was a senior analyst in the investments department of the MacArthur Foundation, where she provided research support for internally managed portfolios and was involved in investment manager due diligence, selection, and monitoring for the foundation’s U.S., non-U.S., and hedge-fund portfolios. Before joining the MacArthur Foundation, Alaina was an investor relations consultant with Ashton Partners and a financial advisor with UBS Painewebber. She is a fellow of Leadership Greater Chicago, a board member of the North Lawndale Employment Network, and a member of the CFA Institute and the CFA Society Chicago. Alaina received a B.S. from the Wharton School at the University of Pennsylvania and an M.B.A. from the University of Chicago’s Booth School of Business.

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