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Research | Dec 3, 2025

TCW’s Iman Brivanlou shares rising opportunities in public REITs

by Andrea Zander

REIT fundamentals are stabilizing and transaction markets are beginning to reset. In an interview with IREI, Iman Brivanlou, portfolio manager of the TCW Relative Value and Real Estate equity strategies, which invests exclusively through listed REITs and real estate-related companies, discusses the comparative advantages of public REITs over private real estate, the shifting dynamics driving institutional allocations, and why market conditions heading into 2026 may favor listed vehicles as price discovery returns to private markets. He also shares his 12-month outlook for the REIT sector, emphasizing improving inflation trends, healthier balance sheets, and a widening valuation gap that he believes could position public REITs for stronger performance.

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