The rise and metamorphosis of property investment managers

Reflections from Property Webinar Series Session #2


In the second session of the Property Webinar Series, "The Rise and Metamorphosis of Property Investment Managers", three panellists Marleen Bosma-Verhaegh (Head of Research and Strategic Advisory at Bouwinvest), Prof. Tuna Tasan-Kok (Professor of Urban Governance and Planning at the University of Amsterdam), and Xavier Jongen (Managing Director at Catella Residential Investment Management) explored the characteristics and behaviour of investment managers as well as their link to regulations and local policy agendas.


Investment managers are a type of institutional property investors who play an increasingly dominant role in real estate. In Amsterdam’s residential property market, investment managers constituted just a small proportion of investment actors before the 2008 financial crisis. Following the crisis, however, investment managers started to occupy more powerful positions: a small number of investment managers were responsible for large shares of the total investment transactions. This ‘success’ did not remain unnoticed. From 2014 onward, once the economy recovered, we can observe the emergence of many new actors in the residential property market, whereby a fine-grained picture of numerous investment managers with small market shares stands out.


The aim of this seminar session was to discuss the rise and metamorphosis of investment managers in Amsterdam. Who are these investment managers? What gave rise to their growth? How do they behave? And to what extent are they influenced by planning and policy agendas? In much critical urban studies literature, investors are generalized and knowledge on investor differentiations is limited. Even though issues surrounding institutional investment in cities have received heightened attention in recent years, sub-categories of institutional investors are seldom discussed. The session highlighted why in-depth research on investment managers requires interdisciplinary and inter-professional bridges and is urgently needed to further our understanding of contemporary urban investment dynamics and its effects on cities.



As moderator of the session, I wrote a reflective summary on the discussion which is published in the Centre for Urban Studies blog series, and can be found here:


https://urbanstudies.uva.nl/content/blog-series/csr-property-development.html

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