Big UK investors poised to buy the dip in US property [Yahoo! Finance]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
NASDAQ:AMEX Investor Relations:
merriam-webster.com/dictionary/legal
Company Research
Source: Yahoo! Finance
Legal & General CEO António Simões told Reuters that U.S. real estate was a key expansion market for the company, adding that the market's fundamentals remained strong. Higher borrowing costs and widespread adoption of home working post-pandemic have hit property prices globally, with the U.S. office market hit particularly hard and investors still nervous about oversupply. But expectations of more interest rate cuts after the U.S. Federal Reserve announced a bumper 50 basis points reduction last week have improved the investment outlook. Property analysts also said the U.S. market tends to reset faster than continental Europe, with lenders and developers quicker to reprice assets. L&G plans to expand its fledgling U.S. real estate equity portfolio by hundreds of millions of dollars over the next few years, while adding a similar level of exposure in its more established real estate debt business, the company said. The fund manager has built a team of around 20 people in Ch
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