Global Real Estate Potentially Undervalued Companies

Vicinity Centres

Market Cap: US$11.7b

Vicinity Centres (Vicinity or the Group) is one of Australia leading retail property groups with a fully integrated asset management platform, and $24 billion in retail assets under management across 52 shopping centres, making it the second largest listed manager of Australian retail property.

Elanor Commercial Property Fund

Market Cap: AU$289.0m

Elanor Commercial Property Fund (ASX: ECF) is an externally managed real estate investment trust that invests in Australian commercial office assets.

GPT Group

Market Cap: AU$10.5b

GPT is one of Australia’s leading property groups, with assets under management of $34.1 billion across a portfolio of high quality retail, office and logistics assets.

DigiCo Infrastructure REIT

Market Cap: AU$1.7b

DigiCo Infrastructure REIT is headquartered in Sydney, New South Wales, Australia.

Scentre Group

Market Cap: AU$21.4b

Owns and operates 42 Westfield destinations with 37 located in Australia and five in New Zealand.

Charter Hall Group

Market Cap: AU$10.9b

Charter Hall is Australia’s leading fully integrated diversified property investment and funds management group.

ESR-REIT

Market Cap: US$2.3b

A leading New Economy and future-ready Asia Pacific S-REIT.

Charter Hall Long WALE REIT

Market Cap: AU$3.2b

An Australian Real Estate Investment Trust (REIT) listed on the ASX.

Jadwa REIT Al Haramain Fund

Market Cap: ر.س341.9m

A real estate investment fund.

Globalworth Real Estate Investments

Market Cap: €688.5m

A listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange.

Modiv Industrial

Market Cap: US$179.3m

An internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate.

Unibail-Rodamco-Westfield

Market Cap: US$12.9b

Unibail-Rodamco-Westfield is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States.

Mercialys

Market Cap: €1.0b

Mercialys is one of France’s leading real estate companies.

RioCan Real Estate Investment Trust

Market Cap: CA$5.5b

RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based and mixed-use properties in densely populated communities.

Simon Property Group

Market Cap: €68.7b

Simon Property Group, Inc. (NYSE:SPG) is a self-administered and self-managed real estate investment trust (“REIT”).

Postal Realty Trust

Market Cap: €507.4m

Postal Realty Trust, Inc. (NYSE: PSTL) is an internally managed real estate investment trust that owns properties primarily leased to the United States Postal Service ("USPS").

Student Property Income SOCIMI

Market Cap: €421.9m

A real estate company, leases student housing and professional accommodation in Spain.

CapitaLand Integrated Commercial Trust

Market Cap: €17.4b

CapitaLand Integrated Commercial Trust (CICT) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalisation of S$15.9 billion as at 30 June 2025.

Redefine Properties

Market Cap: R33.2b

A Real Estate Investment Trust (REIT) with a sectoral and geographically diversified property asset platform valued at R99.4 billion (FY24: R99.6 billion).

Ascencio

Market Cap: €333.1m

A company incorporated under Belgian law, specialising in commercial property investments, and more specifically, supermarkets and retail parks.

UMH Properties

Market Cap: ₪1.3b

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 143 manufactured home communities, containing approximately 26,700 developed homesites, of which 10,600 contain rental homes, and over 1,000 self-storage units.

GPT Group

Market Cap: €10.5b

GPT is one of Australia’s leading property groups, with assets under management of $34.1 billion across a portfolio of high quality retail, office and logistics assets.

Equinix

Market Cap: €75.7b

Equinix, Inc. (Nasdaq: EQIX) shortens the path to boundless connectivity anywhere in the world.

Charter Hall Social Infrastructure REIT

Market Cap: €1.2b

Charter Hall Social Infrastructure REIT is the largest Australian ASX-listed real estate investment trust (A-REIT) that invests in social infrastructure properties.

Morguard North American Residential Real Estate Investment Trust

Market Cap: CA$979.4m

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario.

Minto Apartment Real Estate Investment Trust

Market Cap: CA$863.8m

An open-ended real estate investment trust, owns and operates a portfolio of income-producing multi-residential rental properties located in Canada.

Vakif Gayrimenkul Yatirim Ortakligi

Market Cap: ₺8.6b

A real estate investment trust.

Mercialys

Market Cap: €1.0b

Mercialys is one of France’s leading real estate companies.

First Capital Real Estate Investment Trust

Market Cap: CA$4.1b

First Capital Real Estate Investment Trust, with $9.2 billion in assets acquires, develops, owns and operates open-air grocery-anchored shopping centres in neighbourhoods with the strongest demographics in Canada.

Care Property Invest

Market Cap: €450.5m

Care Property Invest NV/SA is a Public Regulated Real Estate Company (public RREC) under Belgian law.

Nexus Industrial REIT

Market Cap: CA$750.9m

Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada, and the ownership and management of its portfolio of properties.

Altarea

Market Cap: €2.3b

Altarea is the French leader in low-carbon urban transformation, with the most comprehensive real estate offering to serve the city and its users.

Regency Centers

Market Cap: US$13.4b

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics.

Unibail-Rodamco-Westfield

Market Cap: €12.9b

Unibail-Rodamco-Westfield is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States.

Weyerhaeuser

Market Cap: €18.9b

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.4 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada.

Farmland Partners

Market Cap: US$478.0m

An internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets.