Neil Birrell: Surprising investment opportunities

Economic downturns, recessions, periods of stress, liquidity events, market crashes; they all cause pain, but they also bring opportunities for active investors. The crisis that we have, rather, still are, having is no different. One asset class that has been under the microscope, and the hammer, is real estate. The values of physical property have fallen and the share prices of listed REITs and other property companies have suffered. As with all other asset classes, the sell-off went through an indiscriminate phase, but some rationality is coming back to the fore. It would be wrong t...