The wave of new real estate capital has made possible the rapid recovery of gateway markets—notably New York and San Francisco—but that demand has also sharply raised prices and dampened returns in areas overcrowded by excessive interest
New York, NY (PRWEB) December 17, 2014
The Ivy Family Office Network hosted its December 2014 Family Office Outlook Forum in New York, NY on December 9th. Gerald Karr, Managing Principal of Karr North America, led a panel discussion on “Real Estate Investment Strategies”
Mr. Karr said “The expanding economy drives demand for multi-housing and innovative office space. The real estate landscape has been reshaped. The wave of capital seeking opportunity in real estate has made possible the rapid recovery of gateway markets—notably New York and San Francisco—but that demand pressure has also sharply raised prices and dampened returns in areas overcrowded by excessive investor interest. “
Moreover, “Leading-edge investors are comfortable seeking higher return profiles in undervalued assets, particularly in the high-growth areas of the US. Our value-add investment partnership seeks compelling returns in rental apartments and suburban office, where prices are reasonable, net revenue increases can be generated and investment cycles are relatively short. This value-added real estate strategy is fully scalable.”
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Mr. Karr oversees the firm’s investment and development efforts.
Mr. Karr was a Managing Director of Real Estate and Leader of Global Opportunities and Development at GE Asset Management, the exclusive real estate advisor to the General Electric Pension Trust. Mr. Karr led a team responsible for managing a portfolio consisting of more than $900 million in development projects. In addition, Mr. Karr led the East Region for GE Asset Management Real Estate. This diversified institutional real estate investment portfolio consisted of more than 50 properties with a gross value exceeding $5 billion. The portfolio contained core, value-add, development and opportunistic properties. Office properties constituted roughly half of the total, with significant investments in multi-family, condominium and retail shopping centers.
At GE Asset Management, Mr. Karr directed capital deployment to income-producing real estate assets, generally as majority equity investor. Roughly half of the overall portfolio was 100 percent owned by affiliates of the General Electric Pension Trust.
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The Ivy Family Office Network Forum, IvyFON, provides an ongoing dialogue for family offices, ultra high net worths and private investors to support high-value education and information on trends for family office investing, structure and operational excellence. Attendees gain practical strategies and solutions to achieve both short and long-term objectives. The program features off-the-record, peer-to-peer discussions in a non-commercial setting, in-depth and highly interactive sessions.
IvyFON, is a leading peer to peer global family office network with more than 3,000 attendees per year of which several hundred family offices attend events internationally. Some of the more than 2,500 past speakers include most of the top 10 largest asset allocating consultancies, pre-eminent alternative investment funds, leading institutional investors, best-in-class asset management professionals, family office subject matter experts and world-class family offices.
For more information on Karr North America contact Jerry Karr at PH 203-536-1730 or jkarr(at)karrna(dot)com. For more information on the Ivy Family Office Network, contact us at 646-290-8114 or at ivyfon.com/contact.html.