Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Cohen & Steers Eyes New Digs, New Opportunities Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 14, 2004

Cohen & Steers Eyes New Digs, New Opportunities

Reported by Theresa Sim

That the office real estate market is tight in New York is good news and bad news for REIT manager Cohen & Steers. While low occupancy is good for real estate companies, it's bad for the company as it contemplates moving headquarters.

The firm will likely remain in the midtown area, as it's most convenient for its employees, said Marty Cohen, co-chief executive officer of the firm.

Cohen & Steers are looking beyond just midtown for future growth, however. The firm has acquired a 50 percent interest in European real estate securities firm Houlihan Rovers, a Brussels-based company managing $500 million in assets.

"Houlihan Rovers is the Cohen & Steers of Europe," said Cohen.

The reasoning behind the acquisition is to increase distribution of Cohen & Steers investment products, leverage Houlihan Rovers' European institutional relationships, and gain the insight of the firm's ten-plus years of investment expertise, said Cohen.

Cohen & Steers will continue to look for new opportunities to expand its business beyond REITs and utilities, said Cohen. In order to do that, the firm will look to mimic the strategy it used to enter the utilities business -- acquiring expertise.

The firm has been, and will continue to work "long term" on identifying and retaining the best teams working on broader, dividend-paying investment management and equity research.

Cohen & Steer's growth aspirations, however, stop there, concurred Cohen and Robert Steers, co-chief executive officer of the company. "We're not going to be the fully diversified…check-every-box fund company…we don't think it works…not for us," said Steers.

Those looking for a growth or bond offering from Cohen & Steers can keep on holding their breath. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use