Valuation talk takes the stage at VIP Americas 2022

Real estate executives took the stage at IREI’s 2022 Visions, Insights & Perspectives (VIP) – Americas conference, held Jan. 24–26 in Carlsbad, Calif., to share their insights on real estate valuation trends within the four main property sectors.

Against the backdrop of ongoing supply constraints and record-high real estate prices, panelists Jim Costello, senior vice president of Real Capital Analytics; Andrew Kaminski, vice president of Cliffwater; and Ruchi Pathela, CRE, FRICS, executive director and head of valuations — JP Morgan Asset Management fielded questions about to what extent capital flows are driving valuations, and weighed in on whether today’s valuation levels are sustainable.

“I think it's very property type and asset specific and market specific,” said Ruchi on the question of sustainability. “It’s become harder to value real estate in a lot of ways. Within NPI, values were going up kind of proportionally across the different asse