W While gleaming new buildings may get fawned over as potential future trophy assets, the future belongs mostly to existing ones. Analysts predict 80 percent or more of the buildings that will exist in 2050 are already standing. In some mature markets in Europe and elsewhere, estimates run as high as 95 percent.

Yield potential for real estate credit remains highly compelling. While real estate lending spreads have come down from their highs during COVID-19 in 2020 and following the onset of the Fed’s rate-hiking cycle in 2023 (see “Real estate lending spreads,” page 43), they continue to hover near 10-year averages, offering compelling value relative to corporate bonds.

Technology is no longer just a support function for building operations. It has become a core driver of performance, tenant satisfaction and net operating income (NOI) in an increasingly competitive office market. Point-solution tenant apps may handle isolated tasks such as booking a conference room or checking in visitors, but they fail to provide a clear view into how tenants experience a building day to day or where operational improvements can be made across the portfolio.

North America’s data center sector has shifted into top gear. With virtually full occupancy, the data center industry is straining to keep up with insatiable demand. The growth of hyperscalers, artificial intelligence (AI) companies and Graphics Processing Unit (GPU)-focused cloud providers has accelerated the sector’s expansion, driving construction activity to unprecedented levels.

More jobs usually equate to more housing sales and rentals. In that regard, the good news for real estate investors is that more than 5.2 million new jobs are projected to be created during the 2024 to 2034 period, according to the U.S. Bureau of Labor Statistics. Total employment will increase to 175.2 million from 170 million, representing an approximately 3.1 percent growth rate per year.

During the COVID-19 pandemic, millions of Americans relocated from the crowded North to the warmer, more spacious South. Remote work and rising urban housing costs drew renters and investment toward high-growth Sun Belt markets, nowhere more clearly than Florida, which became a symbol of this shift.

RXR has formed a new $500 million strategic discretionary separate account with the North Carolina Investment Authority (NCIA) to provide structured equity solutions for more than $2 billion of high-quality residential development and transitional real estate projects across the United States.

Merger and acquisition activity among real estate and infrastructure managers increased in 2025, with 45 transactions completed, a 15 percent year-over-year rise and the highest annual total in several years, according to Hodes Weill & Associates.

Invesco has launched its Invesco Core Plus Real Estate Trust, a collective investment trust (CIT) exclusively designed to provide defined contribution (DC) plans access to private real estate through a daily valued structure purpose-built for retirement portfolios.

EPR Properties has entered into definitive agreements to acquire a portfolio of seven regional parks from Six Flags Entertainment Corp. for a gross transactional value of $342 million.

Amid ongoing market volatility, the U.S. multifamily industry is contending with growing legislative shifts and a patchwork of evolving regulations redefining the environmental landscape.

In a sponsored interview published in the April issue of Institutional Real Estate Americas, Kayne Anderson's Lee Levy, senior managing director, investments, real estate, discusses how loan structures, underwriting standards and sponsor expectations have evolved in recent years, and explains how focusing on relative value across public and private markets allows Kayne Anderson to make the right investment decisions regardless of the state of the market.

In a sponsored report published in the April issue of Institutional Real Estate Americas, Annie Trucco, senior associate, investment research, makes a strong case for self-storage, pointing to its resilience and outperformance during recessions, its favorable fundamentals, and the characteristics that make it much less sensitive to inflation than other sectors.

In a sponsored interview published in the April issue of Institutional Real Estate Americas, PCCP's Bryan Thornton, managing partner, and Jim Galovan, partner, discuss the enduring importance of credibility and durable relationships, and how even in today's growth-minded, quickly-evolving technological investment landscape, understanding that is key to success.

In a sponsored interview published in the April issue of Institutional Real Estate Americas, Kevin Yam managing director, portfolio management, and Jim Halliwell, head of housing and alternatives at Principal Real Estate, discussed today's complex and dynamic housing market, and how Principal uses a sophisticated perspective and precise analytical methods to identify opportunities quickly and move decisively as the market shifts.