Wealthy families looking to sell iconic buildings are knocking on the doors of institutional investors, taking advantage of institutions growing interest in investing directly in real estate.
Real estate-owning families are looking to institutional investors – particularly sovereign wealth funds an pension funds – as buyers of their properties.
It’s a win for investors that are keep to save on real estate money manager fees, hold properties long term and invest a lot of money at one time. It’s also a plus for the families who want to unlock value in long-held properties, industry insiders say.