{"id":1004039817,"date":"2012-03-15T03:18:23","date_gmt":"2012-03-15T11:18:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004037479"},"modified":"2022-12-06T18:21:56","modified_gmt":"2022-12-07T02:21:56","slug":"a-look-back-at-mipim-2012","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/a-look-back-at-mipim-2012\/","title":{"rendered":"A Look Back at MIPIM 2012"},"content":{"rendered":"

By J.C. Goldenstein, CEO, CREOpoint<\/strong><\/p>\n

After a long week of seminars, presenatations and, of course, plenty of networking, the 2012 MIPIM conference in Cannes, France, drew to a close. While an atmosphere of cautious optimism pervaded, regions and countries are thinking big again. Whether it be London’s Olympic Park, the Grand Paris project, Qatar’s Downtown Doha project, Russia’s Skolkovo Innovation City, Istanbul’s Zorlu Center or Rome’s Ostia waterfront, the scale of ambition and vision is widening. Ultimately, demographics rule: The world population is growing and so is the need for innovation and renewal.<\/p>\n

The discussions ranged the entire gamut. Howard Roth, the global real estate leader for\u00a0Ernst\u00a0&\u00a0Young,\u00a0was \u201ccautious but positive, even in Europe, thanks to the recent stimulus,\u201d he said. \u201cThere\u2019s plenty of equity looking for a home this year.\u201d Jim Fetgatter, CEO at\u00a0AFIRE, was pleased with the direction the market is taking, especially in America. \u201cThe mood of investors has improved dramatically since the dark days of 2008 and 2009,\u201d he said. \u201cWith the problems of Europe and the uncertainty of the future there, the U.S. is perceived to have a certain optimistic prognosis, however slowly the recovery unfolds.\u201d<\/p>\n

Even the most optimistic attendees still expressed some caution, as obvious risks remain. Distressed assets are still weighing heavily on lenders\u2019 balance sheets, and unwinding these assets could fuel more financial turbulence for banks and the market in general. Much of the conversations were about when, if and how banks will let go of assets and debt. It was clear that\u00a0BNP Paribas, hurt by the euro-zone debt crisis, was preparing for more stringent Basel III banking rules.<\/p>\n

It was announced during MIPIM that the French bank sold a 28.7 percent stake in\u00a0Kl\u00e9pierre SA\u00a0for $2 billion\u00a0to U.S. shopping mall giant\u00a0Simon Property Group<\/a>.\u00a0David Simon, chairman & CEO of\u00a0Simon and the new chairman of Kl\u00e9pierre’s supervisory board, said his firm has long admired Kl\u00e9pierre’s pan-European footprint and strong growth potential. \u201cThe investment in Kl\u00e9pierre represents an attractive opportunity for SPG as we seek to broaden our global footprint,\u201d he said.<\/p>\n

Consolidation is also continuing in services.\u00a0NAI Global, the largest network of independent commercial real estate firms worldwide, with an 80-strong attendance at MIPIM this year, was recently acquired by\u00a0C-III Capital Partners L.L.C.<\/a> to create a leading, fully integrated commercial property services company.<\/p>\n

\u201cCorporate and investment clients will now benefit from an even broader range of services in more locations worldwide,\u201d Jeffrey Finn, president & CEO of\u00a0NAI Global, said. \u201cIn particular, they will have access to a corporate solutions and capital markets offering with expanded asset\/property management, project\/facilities management and valuation services so they can get the most value from owning, managing or disposing of their assets.\u201d<\/p>\n

\u201cImproved deal volume and confidence remain centered on core deals in major markets, but confidence is growing that it will spread to smaller markets,\u201d Chris Ludeman, president of\u00a0CBRE\u00a0Capital Markets, said. \u201cA major driver is the rapidly improving debt-capital markets. The unpredictability of the U.S. presidential election — and its possible impact on fiscal, monetary and regulatory policy — remains a wild card. However, chronic fiscal and political uncertainty may be the new normal, and one to which CRE investors will need to adapt years to come.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

After a long week of seminars, presenatations and, of course, plenty of networking, the 2012 MIPIM conference in Cannes, France, drew to a close. While an atmosphere of cautious optimism pervaded, regions and countries are thinking big again. <\/p>\n","protected":false},"author":1501,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,16,21783,21742,21744],"tags":[],"class_list":["post-1004039817","post","type-post","status-publish","format-standard","hentry","category-development","category-international","category-investment","category-latest","category-people"],"acf":[],"yoast_head":"\nA Look Back at MIPIM 2012 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/a-look-back-at-mipim-2012\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Look Back at MIPIM 2012\" \/>\n<meta property=\"og:description\" content=\"After a long week of seminars, presenatations and, of course, plenty of networking, the 2012 MIPIM conference in Cannes, France, drew to a close. 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