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Global allocations to real estate averaged 8.7 percent of AUM against a 9.0 percent target, a small underallocation. European investors now match their 9.4 percent target, and operating platforms ranked as the top preferred access route in Europe, followed by debt funds.

abrdn judges that most global real estate price corrections have concluded entering 2025, with returns driven by income and net operating income growth rather than yield compression. The firm is most positive on multifamily, expecting excess supply to be absorbed by mid-2025.

The survey reported a median hotel development cost of 219,000 dollars per room across surveyed properties, with luxury hotels exceeding 1,057,000 dollars per room, reflecting stabilizing construction costs.

Capital Economics expects further capital value declines across all US sectors during the year, with valuations looking stretched and forecasts running below the PREA and ULI consensus.

The explainer details how Apartment List derives a daily and monthly vacancy rate from listed units across its platform. The national vacancy index reached 6.9 percent in January 2025, the highest level since tracking began in 2017.

The year-end sentiment survey found optimism returning to commercial real estate, with the Real Estate Market Index moving into recovery territory. Respondents projected further improvement in market conditions over the following 12 months.

Marcus and Millichap's 2025 multifamily forecast projects supply and demand to re-align for the first time in four years. Rent growth was expected to remain tepid through much of 2025 with momentum building later in the year, supported by average rents remaining well below typical mortgage payments.

Principal viewed real estate values as largely adjusted for the cycle, with debt among its highest conviction strategies and structurally-driven sectors such as data centers, logistics and residential well positioned for 2025.

Apartment List introduced a Time On Market index measuring how long listed units take to lease, complementing its rent estimates and vacancy index. Units were taking roughly 30 days to lease in recent readings as elevated supply kept the market soft.

CREFC's quarterly Compendium compiles data on the state of the CRE debt capital markets, including outstanding debt, issuance volumes and lending activity across the 6.2 trillion dollar sector.

Northmarq's 2025 national multifamily outlook reports a combination of optimism and uncertainty, with stronger than forecast conditions and robust renter demand stabilizing the sector, alongside an anticipated slowdown in new construction.

The fifth annual outlook reports strengthening investor sentiment as asset values stabilize on subsiding inflation, lower interest rates and expansive fundraising. Colliers expects private investors, especially family offices and private equity funds, to be among the more active buyers.

The C-Suite Outlook compiles the perspectives of senior real estate executives on conditions and strategy for the year ahead. It draws on a respondent base where 82 percent are C-suite or senior executives averaging roughly 25 years of industry tenure.

AEW's first quarter 2025 perspective assesses U.S. property fundamentals and pricing as the market entered a recovery phase. The report tracks institutional investor return expectations across the major sectors amid still-elevated interest rates.

BGO argues the first quarter 2025 U.S. commercial real estate market is stronger than widely perceived, with stable fundamentals and emerging investment opportunities. Industrial and multifamily are flagged as the most promising sectors.

The report provides an overview of the sustainability impact of data centers, focusing on greenhouse gas emissions, energy consumption and water usage across leading providers and hyperscale cloud platforms.

After a two-year downturn in which property values dropped 22% from a recent peak as interest rates increased, KKR argues the current real estate investment environment is one of the most attractive it has ever seen. The piece lays out the case for investing into the early stage of the recovery.
Ares examines the growth drivers behind the emerging credit secondaries asset class and its role in providing liquidity solutions to credit investors. The analysis details how the market has expanded as private credit has scaled.

TPG Real Estate co-heads discuss the rising differentiation between individual real estate sectors and geographies, and how thematic conviction guides their investment selection.
Julie Solomon, Head of Real Estate at Ares, discusses how a dramatic repricing of high-quality assets has created an attractive entry point. She notes slowing construction is reducing supply, which she expects to drive further rent growth.

Hines analyzes how rapid data center growth is driving demand for powered land in specific geographies, examining energy trends and the emerging investment opportunity.
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Ares' Q3 2025 credit monitor tracks renewed credit issuance, refinancing and repricing activity, and a pickup in M&A volumes globally. It assesses credit fundamentals across public and private markets amid an evolving macro backdrop.

Morgan Stanley sees 2026 as an inflection point for real estate, with lower rates, constrained supply and improving capital markets supporting a recovery in valuations and transaction activity.