Yes, global real estate is slowing down. But Joe Rodriguez says that you can still invest and profit -- if you "focus."
Rodriguez, lead manager of the 5-star-rated AIM Global Real Estate Fund, says, "I generally agree...that the world is slowing down. And that influences what we're doing. You have to focus on quality companies with quality assets -- and very sound balance sheets."
Recommendations:
The fund manager's top picks:
-SL Green Realty
-Simon Property Group
-Equity Residential
-Health Care REIT
The themes and sectors Rodriguez likes include regional malls, health care and the U.S. apartment market.
Outside the U.S. -- and traded beyond NYSE and the Nasdaq -- he favors Australia's Westfield Group, Japan's Mitsubishi Estate, U.K. firm British Land and a Continental play, Unibail-Rodamco. The latter is primarily located in Paris, with "a prime office portfolio...generally 99 percent occupied."
Pans:
Rodriguez is staying away from:
-the lodging & hotels subsector;
-Germany; South Florida; Upper Midwest U.S.; 2nd- and 3rd-tier Japanese cities.
Disclosures:
Disclosure information was not immediately available for Rodriguez or his fund.