Rising inflation throughout the globe had buyers looking for security in actual belongings within the final 12 months, and plenty of actual property firms had been beneficiaries. The Dow Jones U.S. Actual Property index gained 35% in 2021, outperforming the S&P 500 index’s 27% acquire, and regardless of shedding 11% alongside the remainder of the market within the first 4 months of 2022, most actual property corporations (at the very least within the Western hemisphere) are nonetheless on strong footing.
Brookfield Asset Administration surged to 83rd on Forbes’ International 2000 record of the world’s largest public firms, up from No. 375 final 12 months. The Canadian agency is on the prime of the actual property record, although its $690 billion in belongings additionally embrace renewable vitality, infrastructure, personal fairness and credit score investments and it took its flagship actual property subsidiary Brookfield Property Companions personal in a $6.5 billion deal final July. Its enterprise arm even dedicated $250 million to Elon Musk’s Twitter acquisition. Brookfield’s inventory gained 46% in 2021, however has receded 19% to this point this 12 months.
Led by billionaire CEO Bruce Flatt, Brookfield owns gems like London’s Canary Wharf and New York’s One Manhattan West skyscraper close to Hudson Yards. By way of its subsidiary Oaktree Capital Administration, the Los Angeles-based distressed debt funding agency led by Howard Marks and Bruce Karsh which offered a majority stake to Brookfield for $4.9 billion in 2019, it’s additionally making inroads in China. Oaktree, which nonetheless operates independently from Brookfield, seized two of the Evergrande Group’s largest belongings after the Chinese language property developer defaulted on $1 billion in debt, according to the Financial Times.
Evergrande’s inventory collapsed final 12 months with the corporate burdened by $300 billion in debt, however the agency remained on this 12 months’s International 2000 at No. 463, down from 227th final 12 months. Its $70 billion in income within the final 12 months and $368 billion in belongings nonetheless rank within the prime 150 among the many globe’s publicly traded firms.
The Forbes International 2000 assigns equal weights to 12-month gross sales, belongings, revenue and market worth, utilizing the latest monetary information accessible as of April 22. This 12 months, 87 actual property firms made the record, together with REITs, diversified asset managers, property builders and development corporations. Thirty-seven of those firms are primarily based in China or Hong Kong, whereas 27 are American.
The highest U.S. firm on the record, ranked 389th, is Boston-based American Tower Company, a REIT which owns and operates 221,000 cell towers all over the world with a market cap of greater than $100 billion. Subsequent is Prologis, a San Francisco-based REIT which owns 1 billion sq. toes of warehouse area. Its inventory is up 25% since final Might. Self-storage firms Public Storage and Further House Storage additionally had robust years and each moved up greater than 100 spots on the record.
The most important European actual property firm on the record is London-based Segro, which owns 103 million sq. toes of warehouses and industrial property valued at $26 billion in eight European international locations.
Under are all 87 actual property firms on this 12 months’s International 2000.