This series gets into the heads of the decision-makers of CRE, the people shaping the industry by setting investment strategy, workplace design, diversity initiatives and more. From where Joanne McNamara sits on the leadership team of giant Canadian investor Oxford Properties, she sees the blood just starting to hit the streets in the UK real estate market. The fall in the value of the pound, precipitated by policymakers she compares to Captain Nemo, might attract foreign investors to UK real estate. But, she says, no sector can escape the current market sentiment. McNamara is executive vice president, Europe and Asia-Pacific at Oxford, which has global real estate assets under management of C$80B (US$58B, £54B). In that role she oversees the firm’s entire European business, which makes up 20% of the firm’s assets. The following has been lightly edited for clarity and style. Bisnow: Baron Rothschild once said the “time to buy is when there’s blood in the streets.” Where is the blood today? McNamara: Everywhere — there is no sector that can escape current market sentiment, albeit the blood is more splashes than rivers currently. Unlike the [Global Financial Crisis] — when you… Read Full Story |