Alternatives

Real estate

$26.2bn

Asset under Management*

30+

Year track record

125+

Investment professionals*

As of December 2023 * Excludes the assets and investment professionals of the real estate credit teams.

A multi-award winning real estate manager

Property Manager of the Year

LAPF Investment Awards 2022

UK Core Property Manager of the Year

Professional Pensions Awards 2022 & 2019 WINNER

Highest total return relative to benchmark

MSCI UK Property Awards 2021 (ZPF)

Local experts, connected globally

We have built a strong reputation amongst clients for successful focused local implementation across our real estate strategies, for adding value to the properties we manage and tailoring solutions through portfolio construction. An in-depth understanding of local market dynamics and ability to express this through our far-reaching capabilities has made our teams leaders in their field.
At the same time we are continuing to grow a distinctive investment platform for clients around the world.
A connected, global perspective helps bring our teams’ insights together, to turn local information into forward-looking investment decisions. We take a strategic macro view across physical real estate assets and position our strategies thematically where we aim to deliver positive outcomes for clients.

In a world where change is constant, successful real estate investing is about adapting to harness new opportunities – something our platform of diverse expertise and agility was built to do.

A key component of our multi-faceted Alternatives business

Columbia Threadneedle’s global real estate capability is a key part of a $33.5bn Alternatives business, supported by a leading global asset management company with a broad range of actively managed investment strategies and solutions covering global, regional and domestic markets.

Our defining strengths to deliver long-term value creation

We aim to get close to our customers, exceed expectations and deliver outperformance

Experienced, dynamic, responsible

We have been investing and managing real estate investments for over 30 years. Our highly experienced team maintains strong relationships with investors, shareholders, industry contacts and occupiers, which is key to managing this asset class. Our solutions consider real estate fundamentals, macro thematic trends and local expertise to address financial, environmental and social targets for our stakeholders, while combining an entrepreneurial approach with sophisticated, structured, institutional practices.

Deep local expertise in key markets

Our real estate teams based across the UK, Continental Europe and US work together to offer a global platform for clients, with a shared vision of the future of real estate. Our teams use their deep knowledge of local markets, specialist approaches and a network of connections to unearth opportunities not all managers can access.

High conviction thematic philosophy

We take a collective, strategic macro view across physical real estate assets, and position our strategies where we aim to deliver positive outcomes for clients.

Active investment and asset management

We do not just own assets, we actively add-value. Columbia Threadneedle has developed a growing reputation and track record for adding value to the properties we manage. We continually review our processes, future themes, opportunities and assets with a goal to generate value and create sustainable income.
Real Estate, Property, Buildings

Our real estate teams

Through its combined resources as a global investment business, Columbia Threadneedle provides the responsive partnership and market expertise investors need to manage their real estate investments.

Based in the UK, Continental Europe and the US, our real estate teams work together to offer a global perspective for clients by bringing our teams’ insights together. Our teams use their deep knowledge of local markets, specialist approaches and a network of connections to unearth opportunities not all managers can access. We combine an entrepreneurial approach with sophisticated, structured, institutional practices.

Our teams' sourcing advantages are rooted in a highly disciplined investment strategy aimed at the leading indicators of real estate demand. Our investment professionals are able to efficiently and expertly cover their markets and cultivate long-term relationships enhancing our sourcing capabilities. This existing and growing network provides outstanding on-the-ground execution and helps uncover compelling off-market investment opportunities.

Direct real estate

Listed real estate equity

Real estate credit

Real estate investing powered by diverse expertise and specialisms
Real Estate, Property, Buildings

Our real estate capabilities and specialisms

A clear and consistent client centricity lies at the heart of our real estate offering, with solutions available for a wide range of investors including pension schemes, institutions, platforms, private wealth and retail investors. We curate investment strategies across the risk/return spectrum to suit client expectations on returns, sustainability outcomes, liquidity and leverage. These strategies then deploy capital either thematically, focused on favoured sectors or themes, or are dynamically balanced to provide exposure across a range of sectors or geographies.

Proprietary quantitative and qualitative research insights are shared across the direct real estate and listed real estate equity teams as well as other teams in our organisation to support Columbia Threadneedle’s thoughtful set of active and passive real estate solutions.
Our real estate strategies and specialisms

In direct real estate, core/core+ strategies seek durable cash flow while mitigating downside risk by investing in stabilised properties and portfolios. Value-add strategies invest at favourable points in the capital market cycle in properties which can offer significant upside potential from value appreciation through physical improvements and lease repositioning. Opportunistic strategies aim to achieve significant capital appreciation in properties through rehabilitation or development.

Listed real estate equity (Real Estate Investment Trusts or “REITs”) offers liquid exposure to many real estate sectors and can provide enhanced diversification to real estate portfolios by geography, sector and property type.

REITs typically own high quality real estate assets with many of the leases tied to inflation or fixed escalators. REITs therefore have the potential to generate a reliable and growing income stream for shareholders, and assets could see further capital appreciation over time as rents grow and replacement costs increase.

Listed real estate companies can offer exposure to many sectors that are supported by structural growth trends, including logistics, data centres, healthcare and residential assets.

Investing in real estate responsibly

At Columbia Threadneedle, we continue to evolve our approach to responsible property investment framework to consider and integrate ESG factors in a manner consistent with our responsible investment philosophy and approach. Our responsible business vision in real estate is based on a framework which encompasses several key principles.

Real Estate, Property, Buildings
Investing in real estate responsibly

For physical properties we hold, we consider all relevant environmental and social factors with integrity and rigour, as appropriate to each of our assets.

At an individual asset level, we typically seek to determine exposure to short- and longer-term climate risks and look to capture data relating to energy demand, consumption, carbon emissions and biodiversity to inform risk mitigation strategies and improvement opportunities that can deliver positive change.

Our approach to integrating ESG factors on an asset level and portfolio basis is supported through the relevant ESG steering and project groups within our real estate teams. Along with Columbia Threadneedle’s expert Responsible Investment Team, they keep a watchful eye on emerging risks and opportunities presented by market trends and legislative change.

We are seeing that for properties to remain relevant to occupiers and investors, they need to deliver best in class sustainability credentials.

In addition to direct intervention in our property assets, as a significant investor in listed real estate equity, we also actively engage with the property companies we invest in to drive better outcomes for our clients. We heighten pressure on investee companies to enhance their standards of governance and increase the provision of social and environmental outcomes data, informing our view of their long-term prospects.

Our leadership team

Direct real estate and listed real estate equity

Our direct real estate and listed real estate equity teams encompass 125+ investment professionals and are are supported by a comprehensive operating platform across such functions as Property Management Oversight, ESG, Research, Operations, Tax, Accounting, Risk, Compliance, Governance and Insurance.

Stewart Bennett photo
Stewart Bennett
Global Head of Alternatives
Hiti Singh
Head of EMEA – Alternatives Client Management
Joe Vullo photo
Joseph Vullo
Head of European Real Estate
James Rigg photo
James Rigg
CIO, UK Real Estate
Richard Kirby photo
Richard Kirby
Director, Property Funds, UK
Iris Schöberl photo
Iris Schöberl
Managing Director Germany & Head of Institutional Clients, Real Estate
Ian Kelley photo
Ian Kelley
Managing Director, Head of France, Benelux & Southern Europe, Real Estate
Marcus Phayre-Mudge photo
Marcus Phayre-Mudge
Head of Property Investment, Thames River Capital

Insights

15 February 2024

Hans Nordby

Head of Research & Analytics, Real Estate (US), Lionstone Investments

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

2024 Global Real Estate Outlook

What's in store for real estate in 2024? Global megatrends and financial conditions will impact returns and sector allocation.
Read time - 4 min
20 December 2023

Marcus Phayre-Mudge

Head of Property Investment, Thames River Capital

George Gay

Fund Manager

Targeting relative value in listed real estate

With inflation data suggesting we are at or near the peak in interest rates and investors assessing scope for cuts in 2024, real estate equities have risen sharply from their lows.
Read time - 4 min
12 December 2023

Assia Amore

European Fund Manager, Real Estate

Ian Kelley

Managing Director, Head of France, Benelux & Southern Europe, Real Estate

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

The resurgence of Europe’s luxury high streets is gathering momentum

High street retail markets across Europe are benefitting from the solid recovery of tourism, both international and domestic.
Read time - 3 min
30 June 2023

James Coke

Fund Manager and Co-Head of Institutional UK Real Estate

UK real estate: half-year health check

Despite volatility in the UK property market over the past 12 months, there's been a nascent pricing recovery since March. So, what's the outlook like for the rest of the year?
Read time - 4 min
20 March 2023

James Coke

Fund Manager and Co-Head of Institutional UK Real Estate

Robin Jones

Co-Head of Institutional, UK Real Estate

Delivering sustainable returns in real estate investing

Climate change is affecting every sector of our economy, and it remains one of the most important factors to consider when making long term investment decisions.
Read time - 8 min
17 March 2023

Stewart Bennett

Global Head of Alternatives

Real estate – understanding the new normal

Where next for real estate? With sections on the UK, Continental European and US real estate our team take a closer look at the economic backdrop, activity in 2022, the outlook for 2023 plus strategy calls across various sub-sectors.
Read time - 9 min
15 February 2023

Guy Glover

Director, Property Funds

Emma Gullifer

Assistant Fund Manager

Build to rent investment – performance, resilience, and a great diversifier

Residential property is no longer an emerging asset class or viewed solely as an ancillary part of a commercial property allocation.
Read time - 5 min
22 December 2022

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

Real Estate: Preserving Value

There was a definite air of positivity in European real estate markets in January and February 2022.
Read time - 4 min
14 March 2022

Solutions Enhanced: Capital Market Assumptions 2022 Making a transition

The end of 2021 saw a continuing reminder of the impact of coronavirus, inflation occurring in major economies, and the world waking up to the stark choices presented by the climate emergency. We set out the expectations for what all this could mean for investors over the next five years and in the longer run. These capital market assumptions form the base case we use when constructing strategic asset allocations for clients.
Read time - 3 min

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Investment strategies

We offer a broad range of actively managed investment strategies and solutions covering global, regional and domestic markets and asset classes.

Our funds

Columbia Threadneedle Investments has a comprehensive range of investment funds catering for a broad range of objectives.

Documents

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Important Information

For use by professional clients and/or equivalent investor types in your jurisdiction (not to be used with or passed on to retail clients). For marketing purposes. The above information is intended for informational purposes only and should not be considered representative of any particular investment. This should not be considered an offer or solicitation to buy or sell any securities or other financial instruments, or to provide investment advice or services.

Investing involves risk including the risk of loss of principal. Your capital is at risk. Market risk may affect a single issuer, sector of the economy, industry or the market as a whole. The value of investments is not guaranteed, and therefore an investor may not get back the amount invested. International investing involves certain risks and volatility due to potential political, economic or currency fluctuations and different financial and accounting standards. Real estate investing involves risks, including, without limitation: (i) actual operating results; (ii) interest rates; (iii) availability and costs of financing; (iv) economic and market conditions; (v) date of expected exit; (vi) increases in costs of materials or services beyond projections; (vii) force majeure events (e.g., terrorist attacks, extreme weather conditions, earthquakes, war); (viii) supply/demand imbalances; (ix) currency fluctuations; (x) litigation and disputes relating to investments with joint venture partners or third parties; (xi) changes in zoning and other laws; (xii) inability to obtain necessary licenses and permits; (xiii) competition; and (xiv) changes in tax law and tax treatment and disallowance of tax positions.
The value of directly-held property reflects the opinion of valuers and is reviewed periodically. These assets can also be illiquid and significant or persistent redemptions may require the manager to sell properties at a lower market value adversely affecting the value of your investment.
The views expressed are as of the date given, may change as market or other conditions change and may differ from views expressed by other Columbia Threadneedle Investments (Columbia Threadneedle) associates or affiliates. Actual investments or investment decisions made by Columbia Threadneedle and its affiliates, whether for its own account or on behalf of clients, may not necessarily reflect the views expressed. This information is not intended to provide investment advice and does not take into consideration individual investor circumstances. Investment decisions should always be made based on an investor’s specific financial needs, objectives, goals, time horizon and risk tolerance. Asset classes described may not be appropriate for all investors. Past performance does not guarantee future results, and no forecast should be considered a guarantee either. The information presented above has not been reviewed by any regulatory authority.

In the UK: Issued by Threadneedle Asset Management Limited, No. 573204 and/or Columbia Threadneedle Management Limited, No. 517895, both registered in England and Wales and authorised and regulated in the UK by the Financial Conduct Authority.

Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.