1 Institutional investors are increasing target allocations to real estate, according to the third annual real estate allocation survey from Hodes Weill & Associates LP and Cornell University’s Baker Program in Real Estate, but at the same time remain significantly underallocated. This mirrors the findings of the recent editorial advisory board meetings of Institutional Real Estate, Inc’s three regional publications. The Hodes Weill/Cornell survey looked at the real estate investment activities of 242 global, regional and national investors from 30 countries with a combined AUM of more than $11.2 trillion (€10.2 trillion) and total real estate assets of around $950 billion (€866 billion). Significant variances were evident in the treatment of real estate investments by region, size and type of investor. The principal findings of the survey are as follows: • Target allocations to real estate continue to increase, and now stand at an average of 9.56 pe