When interest rates began to rise in 2023 after 10-plus years of record-low interest rates, real estate entered a pricing reset. Valuations were hard to pin down due to a lack of trades, leading to exit queues in open-end funds and many closed-end funds seeking extensions. Heading into 2025, the general narrative IREI noticed across many research reports was that “asset management will be critical.” The focus on asset management has continued into 2026, leading us to do a deeper dive into the subject.
In March 2026, IREI began interviewing people across 11 different property types to share their insights and outlooks on asset management in a video series titled Asset Management In Focus.
Chase McWhorter, managing director, Americas, at Institutional Real Estate, Inc., conducted an interview with Steve Luthman, global head of real estate at Hines. The discussion explored how Hines defines and implements asset management across their global operations in 30 countries
