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There is still a compelling argument to be made for investing in real estate debt, according to Kirloes Gerges, managing director, portfolio management, with Principal Asset Management. In an interview published in the September issue of Institutional Real Estate Americas, Gerges explains that, in a fixed-income portfolio, real estate debt diversifies the portfolio and allows the investor to see through to the quality of the collateral; in a real estate portfolio, it offers income enhancement.
“Given where it sits in the capital stack and investors’ current return expectations, we believe real estate debt should continue to be attractive in the foreseeable future,” says Gerges. “The 2024 and 2025 vintages will likely prove to be good vintage years for real estate debt.”
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