The 2017 Institutional Investors Real Estate Trends survey, conducted jointly by Institutional Real Estate, Inc. and Kingsley Associates, assessed institutional investors’ fund allocations, risk and return assumptions, expected capital flows, and real estate investment strategies for the year.

The 113 U.S. respondents manage more than $299 billion in real estate holdings, and the 51 foreign respondents have $442 billion in real estate assets under management. For the benefit of being able to see trends in the data, much of the analysis and many of the themes throughout the report focus on feedback from the U.S. respondents.

This year’s feedback shows investors’ satisfaction with real estate remains high, which is attributable to the asset class outperforming investors’ return expectations. Investors indicated, however, they expect returns to decline this year, but th