Institutional investors have committed more capital to real estate in each of the past three years, despite the industry’s talk of slow fundraising. That is the finding of a new analysis by Geoffrey Dohrmann, chairman and CEO at Institutional Real Estate, Inc., in the October 2026 “Fundraising Trends” report.
The analysis, “Follow the money,” looks at 946 commitments recorded in Ask IRE.IQ, a feature of IREI’s IRE.IQ database, from Oct. 14, 2023, through Oct. 13, 2026. Those commitments totaled $115 billion in disclosed amounts. Investors committed $26.6 billion in fiscal 2024, $41.8 billion in fiscal 2025 and $46.6 billion in fiscal 2026. The number of commitments grew from 238 to 383 over the same period, and the median commitment rose from $75 million to $88 million.
More investors are taking part. The number making at least one commitment rose from 103 in fiscal 2024 to 140 in fiscal 2026. Of the fiscal 2026 group, 56 had made no commitments in the two
