Heitman’s Caleb Mercer on why Europe’s alternative real estate is drawing U.S. investors
by Andrea Zander
U.S. investors are turning their attention to Europe’s alternative real estate sectors. In an interview with Caleb Mercer, managing director of European private equity at Heitman, he discusses the market forces driving this shift — from attractive valuations and macroeconomic stability to structural supply/demand imbalances across housing, student accommodation, senior living and self-storage. He discusses how European markets create predictable value differently than the United States, the risk-return dynamics shaping investor appetite, and the long-term lessons from past real estate cycles that are influencing capital flows today. Through his insights, we gain a clearer view of why European alternatives are emerging as one of the most compelling opportunities for U.S. institutional capital.
