Welcome readers,
Our lead article explores the evolution of operational real estate on both sides of the Atlantic. In markets where historic data is thin, especially in Europe, it is at the level of individual deals that investors can best understand how value is being created. Case studies from Bordeaux, Dublin and Leiden spotlight the business models, the operators and the alignment mechanisms in place.
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Featured article of the week
Operational real estate: what the deals really tell us
As portfolios expand beyond the Big Four, the real clues to performance are in the transactions.
That's it for now. Our next edition will arrive on 27 November 2025.