Lazard Portfolio Manager says Cryptocurrencies Could Have Positive Impact on Real Estate

Jay Leupp, portfolio manager and analyst at Lazard Asset Management, participated in a video interview at Nareit’s 2018 CEO Forum & Advocacy Day in Washington, D.C.

Leupp discussed the potential impact of bitcoin and other cryptocurrencies on commercial real estate.

“At this point we think it’s a positive impact but we are unclear of what the magnitude will be,” Leupp said. He noted that while cryptocurrencies do facilitate the process of doing business for many industries, it is unclear what future regulation will emerge.

“At a minimum, the new companies that are being formed are going to demand more office and work space – potentially even more multifamily space,” Leupp observed.

Turning to global markets, Leupp said opportunities still exist in certain sectors in the United States, as well as in Mexico and Brazil. The United Kingdom, Germany and other markets in Western Europe also present opportunities. In addition, Lazard continues to favor investments in China, Japan and certain emerging Asian markets, he noted.