RCA in the commercial property press:

British Property Investors Returning to Market

The New York Times reports: A growing number of investors think it is time to start buying again. At least three British investment firms announced plans to raise about $240 million each for property purchases over the last month amid signs that yields have started to stabilize.

Dan Fasulo, head of research for Real Capital Analytics, estimates London’s market cycle is about six months ahead that of New York. Some analysts attribute the lag in the cycle partly to greater price transparency in the British market, where property funds traditionally have more smaller investors. When the market dropped, many asked for their money back, forcing companies to value their assets almost on a monthly basis.

Britain’s market is also less financed by commercial mortgage backed securities and more through commercial bank loans.