Cheyne Capital President says, Risky Real Estate in Safe Countries Beats Emerging Markets

Cheyne Capital President says, Risky Real Estate in Safe Countries Beats Emerging Markets

Real estate investors should look at riskier assets in stable countries to improve returns as prime properties yield less and emerging markets lose stability, according to Stuart Fiertz, co-founder of Cheyne Capital Management (UK) LLP.

"It is becoming more important to switch attention away from trophy assets in central business districts, where yields are falling," Fiertz said today at the Bloomberg Link Hedge Funds conference in London, United Kingdom.

Sales of existing commercial property in London generated more money than in any other city last year, according to New York-based research group Real Capital Analytics Inc. Investors were drawn to offices and homes in the center of the U.K. capital by low interest rates and concerns that the global economy will deteriorate.

"Anyone could make money in the property market up to 2007," Peter Cosmetatos, finance director of the British Property Federation, said at today's conference. "Now we can see a difference between the prime, reliable, boring property and the rest, where there are some interesting investment opportunities."

Countries such as the U.K. and Germany are more attractive for real estate investments than assets in emerging markets because they are politically stable and "the rules are respected," Fiertz said. "With the events of the last few weeks, we are more aware how frightening and uncertain most of the world is," said Cosmetatos. "Buying real estate roots you to the ground it's on."

In the Bloomberg conference called "Real Estate: Where's the Growth?" participated Peter Cosmetatos, Director of Policy (Finance) of British Property Federation and Stuart C. Fiertz, Co-Founder, President and Director of Research, Cheyne Capital Management (UK) LLP, who were interviewed by Francine Lacqua, Senior Correspondent and Anchor, On the Move with Francine Lacqua, Bloomberg Television. The conference subject covered "Real estate investors are snapping up distressed properties in Spain, the U.S. and other markets. Others are finding new opportunities in China, the Middle East and India. REITs also present an opportunity to play in the real estate markets. The smartest real estate minds discuss the current state of the market and where there's value to be found."

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