Geopolitical events shape investment flows and capital returns across our global commercial real estate markets. Most global real estate transactions are by domestic investors, but cross-border capital flows, where the capital source is not the same country as the asset purchased, are also significant drivers of activity.

As most of you know, Gail Haynes is retiring as the president of the Pension Real Estate Association (PREA) at the end of this year, after nearly 31 years at the helm. (Zoe Hughes, CEO of PREA since March 2025 and the former CEO of NAREIM, is in the process of stepping into her shoes.)

It is well understood that most of the buildings that will be standing in 2050 already exist — up to 80 percent of current building stock, according to the World Economic Forum in 2022. Yet, green finance continues to flow primarily towards assets that are already demonstrably sustainable (e.g. the top 15 percent concept in the Australian Sustainable Finance Taxonomy).

Asia Pacific employees are intensifying enforcement of return-to-office protocols, while prioritising employee experience and workplace optimisation to drive performance and efficiency, according to CBRE’s 2025 Asia Pacific Office Occupier Survey.

Invesco Real Estate has entered into definitive documentation to acquire 100 percent of RetireAustralia, an owner, operator and developer of retirement villages in Australia, for A$845 million (US$550 million).

A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest up to US$1.5 billion in GLP Pte Ltd to support its next phase of growth.

PATRIZIA has acquired a high-quality residential portfolio located mostly in Tokyo on behalf of a global institutional investor, reinforcing the firm’s strategic commitment to Japan’s resilient residential sector and strengthening its local investment platform.

AXA IM Alts has entered into an agreement to acquire a prime fringe-CBD development site at Adderley Street, Melbourne. The asset has been secured on behalf of AXA IM Alts’ Australian built-to-rent affordable housing strategy and will be developed into a 100-unit residential scheme providing a balanced mix of market and affordable rental housing.

BDx Data Centers and HEXA Renewables have formed a strategic partnership to pioneer an innovative cross-border model that adds new clean-energy capacity in Asia, specifically the Singapore-Malaysia energy grid.