The FTSE EPRA/NAREIT Global Real Estate Index fell 4.2% in February, with only European real estate finishing 110 bps in the black. This was the second consecutive month Europe's index finished ahead. Both the Asia-Pacific region and North America started 2008 with significant declines, and recorded negative returns in February of -15.4% and -8.1% respectively.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
