News Snapshot:
For an indication of the extent to which investors still harbour doubts about the ability of the commercial property industry to cope with the unprecedented disruption caused by the pandemic, look no further than the share price of an S&P 500 index of office-focused real estate investment trusts (Reit). While the broader S&P 500 index has long since surpassed its pre-pandemic peak last August, the office Reit sub-index is still trading at 20 per cent below its level in February 2020. To be sure, there have been sharp divergences in the performance of different sectors within the property industry. Logistics...
