The fifth annual Institutional Real Estate Allocations Monitor from Hodes Weill & Associates and Cornell University’s Baker Program in Real Estate shows institutional investors around the world are continuing to raise their target allocations to real estate and have now broken the 10 percent barrier; at the same time, investors are still significantly underinvested against their targets. The extent of the underinvestment varies by region.

The survey looked at the real estate investment activities of 244 global, regional and national institutional investors in 28 countries, with combined assets under management of more than $11.5 trillion and total real estate assets of about $1.1 trillion. As in previous years, significant variances were evident in the treatment of real estate investments by region, size and type of investor.

Douglas Weill, managing partner at Hodes Weill & Associates, comments: “Real estate has proven over time to be an important