Magazine article Real Estate Issues

Editor's Note

Magazine article Real Estate Issues

Editor's Note

Article excerpt

THIS IS MY FIRST ISSUE AS EDITOR IN CHIEF OF Real Estate Issue[R]. Need I say that I follow a long line of editors who have molded this journal into what it is today; a sophisticated, thoughtful and intelligent publication that offers some of the best thinking today on important and critical topics in real estate?

My immediate predecessors, CRE Peter Burley, and before him, CRE Maura Cochran, have, without fail, consistently held to the principles of The Counselors organization, which has been reflected in the articles that have been published here. I can only hope to continue in that same path to ensure that the material in these pages brings to CREs and other professionals alike, interesting and informative work that may shape the manner in which we consider real estate markets.

A year ago, The Counselors developed its Top Ten list of important real estate issues, and this year's External Affairs Committee is continuing the list with the intention of making this a permanent feature of CRE. Real Estate Issues is now connected with External Affairs. As a member of both committees, I see a strong opportunity to bring additional depth to the list through the soliciting of specific articles on topics that have been identified as critical to our professions.

The U.S. economy is finally moving in the right direction after several years of economic recession. But, we are not out of the woods yet. Some sectors of the real estate market are driving our return to growth while others remain stagnant. Capital markets are rising again from the ashes, but caution remains.

It is in this vein that the first issue of REI looks to our European associates for their assessment of the current economic situation in Europe, and a discussion of how the current situation is affecting commercial real estate markets across that continent. Information and opinions were obtained from a group of seven high-profile professionals from several countries, giving a depth and breadth to the topics presented. I was honored to be able to work with this group's participants to solicit their input. The result is a thoughtful compilation of insights from CREs and FRICs practitioners.

I would like to personally thank the following individuals who assisted me with bringing the European group together:

Brian A. Glanville, CRE, MAI

Arthur P. Pasquarella, CRE

Liliane Van Cauwenbergh, managing director, RTCS

EMEA (covering Europe, Middle East and Africa)

Professor Alfons Metzger, CRE

These individuals were instrumental in contacting people to encourage participation in the Roundtable Discussion and assisting me with the outline for the questions that were put forth.

I am also indebted to the participants of the Roundtable who gave their time and energy to so thoughtfully respond to the questions that were raised and who provided important insights into the current European economic situation, issues within the euro zone and its effects on local real estate markets.

When a united European Union was first contemplated, there were those who said it could not be done; that the strong nationalist states that exist in Europe would not be able to come together and sustain a common economic collaboration. The EU and its member states have succeeded. …

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