Money manager eyes Asia-Pacific property for growth, but tells investors to keep bet on US

AI Summary

Principal Asset Management expects to increase its activity in Asia-Pacific property, citing institutional investors’ underweight exposure to the region’s office market. The firm also reports continued investor interest in US commercial real estate opportunities.

US-based money manager Principal Asset Management says it is poised to become more active in Asia-Pacific property markets, believing investors have been “underweight” in the region’s office property segment. Richard Hill, its senior managing director and head of global real estate research and strategy, said the group was also seeing continued interest from institutional investors in the Asia-Pacific region looking to access opportunities in US commercial real estate as it was “too big to...