Real Assets Adviser

November 1, 2025: Vol. 12, Number 10

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From the Current Issue

Hedging their bets: Why big oil companies invest in green energy

Some major oil companies such as Shell and BP that once were touted as leading the way in clean energy investments are now pulling back from those projects to refocus on oil and gas production. Others, such as ExxonMobil and Chevron, have concentrated on oil and gas but announced recent investments in ...

Transportation systems roll into the future — and they promise to be fast, efficient and autonomous

It wasn’t that long ago that electric cars were cutting edge, radical even. And certainly, driverless cars and food-delivery robots were a thing of cartoons like The Jetsons. But today, even the postal service has gone electric, with $9.6 billion of funding allocated to cover the cost of purchasing more than 66,000 electric vehicles and building the charging infrastructure to support them by 2028. And driverless vehicles? Autonomous Waymo cars are transporting passengers all over larger cities, such as Los Angeles, Austin and Atlanta. Food-delivery robots are doing the same thing for restaurant takeout orders. The two are so ubiquitous in some urban areas that it won’t be long before ...

The retail renaissance: How strong stores with multichannel models are thriving

There is now no shortage of voices claiming private real estate fund values have bottomed across the board. But not all properties are equal in this regard. Persistently low property yields below borrowing costs signal that the values of popular property types such as warehouses, apartments and storage facilities need to fall further. We have rarely seen negative leverage scenarios with happy endings. There is one type of property that has, in fact, bottomed ...

Private equity wants your 401(k): What are the pros and cons?

In a move that could dramatically expand access to private market investing, a newly signed executive order from the Trump administration aims to lower restrictions on adding private assets like private equity in defined contribution retirement plans such as 401(k)s. While this could open new opportunities for millions of American investors, Bilge Yilmaz and Burcu Esmer, academic directors of Wharton’s Harris Family Alternative Investments Program, note the important questions this raises about access, investing expertise, and how to plan for the long run.

A note of caution for wealth advisers in private credit

Private credit has emerged as one of the most dynamic and sought-after asset classes in recent years. From real estate and infrastructure debt to direct lending and asset-backed finance, the sector has grown exponentially, fueled by investor appetite for yield, diversification and access to alternative markets. But beneath the surface of this rapid expansion lies ...

Q&A: Why British Columbia is emerging as an unexpected hub for data center development

Reza Norozy is the chief operating officer at Prism Construction, a construction firm based in British Columbia, Canada, where he oversees daily operations and plays a key role in all strategic and operational decisions. Norozy discusses why the province is seeing increased interest in artificial intelligence (AI) and data infrastructure despite seismic and permitting complexities, and how sustainability and connectivity are becoming more integrated into AI/data center builds.

Regulation Update: Ending taxes on home sales would benefit the wealthiest

Not long after U.S. housing prices reached a record high this summer — the median existing home went for $435,000 in June — President Donald Trump said that he was considering a plan to make home sales tax-free. Supporters of the idea, introduced by U.S. Rep. Marjorie Taylor Greene as the No Tax on Home Sales Act in July, say it would benefit working families by ...

Nuclear minimalism: Tiny reactors could one day power towns and campuses

You might imagine nuclear power plants as behemoth facilities spanning hundreds of acres. Nuclear microreactors, by contrast, could sit on land the size of a football field and power a whole town. However, after decades of fraught relationships between the nuclear industry and communities in many parts of the United States, building these tiny reactors requires reckoning with ...

5 Questions: An executive recruiter on the never-ending search for talent

It is said the only sustainable advantage an organization in a knowledge industry can have is superior, culturally aligned talent. But where is talent found, and how is it carefully assessed and successfully recruited? Emily Von Kohorn, a founding partner with September Search Partners, offers her appraisal.

Asset tokenization is the wave that’s coming

The investment landscape may be approaching a fundamental transformation that could eventually (we stress the word eventually) reshape how investors access and hold financial assets within a portfolio. Asset tokenization — that is, the process of converting ownership rights in real-world assets into digital tokens on blockchain networks — represents what financial historians may eventually recognize as the third major evolution in investment vehicles, following the introduction of ...

Research Roundup: November 2025

State Street writes that U.S. Treasuries have long been the cornerstone of global financial stability — but shifting fiscal and policy landscapes are challenging the status quo. That raises the question, are U.S. Treasuries still a safe haven? See the firm’s report on ...

Profile: Eric Schwartz, founder and co-chairman of Cambridge Investment Research

Eric Schwartz, the eventual founder and chief executive of Cambridge Investment Research, headed to Amherst College in 1971 during the throes of the counterculture movement. He enrolled in an assortment of courses at the liberal arts college, with notions of ultimately earning a degree in either psychology, philosophy or some related subject. He was surrounded by fellow students bent on “finding themselves.” “We were trying to figure out what really matters. I had no focus on ...

How private equity funds understate the risk in their investments

When private equity firms present their track records to investors, the charts often look too good to be true — higher returns with lower volatility than public markets. As it turns out, they often are too good to be true. Investors considering private equity allocations are frequently presented with compelling performance charts showing that ...

The future of parking amid the remapping of urban downtowns

The traditional model of urban design is undergoing a radical transformation in cities across the United States. Central to this shift is a reevaluation of how cities allocate and utilize space, particularly when it comes to parking. The conversation is no longer solely about accommodating vehicles; it’s about reclaiming urban land for people, improving safety, and enhancing economic and social vibrancy. The future of parking is being reshaped by ...

Multifamily in Sun Belt markets faces challenges

With construction in some Sun Belt markets continuing to outpace absorption, concerns are growing about potential oversaturation in certain metros, though demand in many areas remains strong. Yisroel Berg, CIO of multifamily at Harbor Group International, says, “We are seeing some Sun Belt markets where supply is outpacing demand, and we expect to see that trend continue as new construction enters certain markets while other properties finish the lease-up process. However, construction is falling off in the majority of Sun Belt markets and strong demand is continuing as supply tapers off, outpacing the delivery of units.”

Why AI-powered autonomy is becoming the new driver of real estate returns

When people talk about “smart buildings,” they often point to lights that dim automatically, thermostats adjusting on their own, or apps that let employees book desks — capabilities now considered baseline. The next chapter is autonomy: buildings powered by a unified data-driven core that don’t just respond, but learn, predict and act to enhance efficiency.

Global wind market set for historic growth despite current headwinds

The global wind power market will achieve unparallelled milestones over the next 10 years, according to Wood Mackenzie’s latest market forecast. The industry is poised to add its second terawatt of capacity by 2030, accomplished in just seven years compared with the 23 years it took to reach the first terawatt in 2023. The wind industry is on track for ...

As the infrastructure universe continues to expand, emerging subsectors gain traction

Infrastructure may once have been a staid asset class. But the sector is expanding and segmenting, offering greater opportunity for investors in search of something beyond widows and orphans–type returns. Nowhere is that truer than in the newly emerging niche sectors of infrastructure surrounding renewable energy, next-generation fuels and carbon sequestration. But where and how should investors seek opportunity that rewards them for taking on sensible risk?

The evolution of IOS — from mom-and-pop yards to market opportunity

Institutional interest in the industrial outdoor storage (IOS) sector will increase in the coming years. There are significant untapped opportunities for investors and developers, according to Lisa DeNight, managing director and head of North American Industrial Research at Newmark, and Jamil Harkness, a national industrial senior research analyst at the firm. The pair, who co-authored Newmark’s Industrial Insight: Lots to Gain report, shared their insights in an interview with Institutional Real Estate, Inc., parent company of Real Assets Adviser.

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