Global Real Estate Securities

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Our Investment Process

MGI Pacific employs a relative-value investment process to identify securities that are mispriced using our proprieaty data and algorithms to value real estate securities underlying net asset value (NAV). Although we do incorporate factors including management, track record, and corporate structure into our qualitative analysis, we fundamentally are interested in identifying and investing in relative value arbitrage opportunities between the private and public real estate markets.  

Our investment strategy is influenced by value investing principles and as such we look for securities that offer the following:

  • Trade at a significant discount to our fundamental NAV estimates
  • Maintain a manageable balance sheeet and liquidity position
  • Enjoy a strategic market position either by geography or asset class that makes it difficult for competitors to emulate the fundamental value creation of the firm leading to superior long term growth

Although we are conservative by nature, we strongly believe that it is not asset quality that determines investment risk but pricing. 

 

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