Press Room

For more information contact the PREA office at or 860-692-6341.


Investment pros sound call for protecting DEI as Toigo Foundation celebrates 35 years
Pensions & Investments - June 7, 2024
Through collaborations with organizations such as the Pension Real Estate Association, the foundation now offers post-graduate programming such as panels with industry leaders, and services such as career coaching and mentoring. Additionally, the Toigo Foundation’s focus has moved beyond investment management to meet fellows’ interests in other asset classes and banking.

Longer exit lines building at open-end real estate funds
Pensions & Investments - June 4, 2024
Real estate managers of open-end funds are having a tougher time returning investor capital this cycle than in the global financial crisis, industry experts said.

ESG has a branding problem. Here's how pension funds, money managers are adapting.
Pensions & Investments - May 29, 2024
In some U.S. states, the three letters standing for environmental, social and governance have become toxic, even though institutional investors and pension fund executives continue to incorporate ESG into their investment process, believing that managing risk on matters such as climate change and associated floodwaters, for example, is essential to protecting their investments.

Apartments and warehouses – today's real estate darlings – in for a rough ride
Pensions & Investments - March 28, 2024
Apartments are predicted to be among the lowest returning of the four main property types in 2024 at -1.7%, with industrial expected to produce a 0.7% return in 2024, according to the latest Pension Real Estate Association Consensus Forecast survey.

Real estate investors shift to higher-risk strategies, global survey finds
Investment & Pensions Europe - January 17, 2024
An annual global survey of institutional real estate investors has highlighted an over-allocation to the asset class among European investors and a widespread shift towards higher-return investment strategies. The Investment Intentions Survey, carried out by three regional real estate associations ANREV, INREV and PREA showed that the gap between current and target allocations has narrowed even further after shrinking notably the year before.

PREA issues guide on how to include social factors in investments without giving up returns
Pensions & Investments - January 11, 2024
The Pension Real Estate Association is taking a stab at clarifying the "S" in ESG, which the real estate trade group executives consider the least well understood letter in the acronym standing for environmental, social and corporate governance.

Real estate 2024 outlook (part one): Things can only get better?
IPE Real Estate - December 21, 2023
Tom Leahy, head of EMEA real assets at MSCI Real Estate Research, sums up the situation with considerable understatement: “2023 has not exactly been a vintage year for real estate.”

Owners need to future-proof warehouses
Pensions & Investments - October 23, 2023
Logistics, the darling of the real estate sector, may be in for a reckoning as technological advancements make some warehouses obsolete.

Hit by rising rates, real estate managers' AUM falls
Pensions & Investments - October 9, 2023
Real estate managers were hit with rising interest rates, falling valuations and declining fundraising in the year ended June 30, resulting in their worldwide assets under management dropping by 2.9% to $1.9 trillion, Pensions & Investments’ annual real estate money manager survey shows.

Borrowers could go begging when refinancing needs arise
Pensions & Investments - June 22, 2023
Real estate could experience a major earthquake this year when the $400 billion of relatively low-interest-rate U.S. commercial property debt matures and needs to be refinanced in a less hospitable, higher-rate world. According to the Pension Real Estate Association's second-quarter U.S. real estate consensus forecast, a subset of its members surveyed in May expect the NCREIF Property index to end 2023 with a total return of -7.1% but rise to 3.3% in 2024. 

NCREIF Property index to dip in 2023, rebound in 2024, survey says
Pensions & Investments - March 14, 2023
The NCREIF Property Index is expected to decrease 5.3% in 2023, but rise 4.5% in 2024, according to a Pension Real Estate Association survey.

Average real estate allocations expected to dip
Pensions & Investments - January 19, 2023
Nearly 21% of investors worldwide on average plan to decrease allocations to real estate, but allocations to core real estate will grow.

European investors hit most by over-allocation to real estate – global survey
Investment & Pensions Europe - January 18, 2023
Unlike their North American and Asia-Pacific counterparts, European institutional investors on average plan to decrease their weightings to real estate, having overshot their target allocations. According to the latest annual investment intentions survey, conducted jointly by regional real estate investor associations INREV, ANREV and PREA, European investors hold 10.8% of their assets in real estate, just above their average target allocation of 10.5%.

Global Survey Shows CRE Placing Greater Importance on DEI - December 15, 2022
Commercial real estate companies are broadening and deepening their diversity, equity, and inclusion (DEI) programs and initiatives, and firms are also now placing a higher degree of importance on other dimensions of DEI. The Global Real Estate DEI Survey 2022 was released this week by ANREV, INREV, Ferguson Partners, NAREIM, NCREIF, PREA, REALPAC and ULI.

Commercial real estate firms see slight improvement in diversity of workforce
Pensions & Investments - December 14, 2022
Commercial real estate firms made a slight improvement in achieving a more diverse workforce, with women accounting for 42.5% of employees in North America, up from 41% in 2021, 39.5% in Europe up from 38% and 50% in the Asia-Pacific region, up from 47%, according to the Global Real Estate DEI Survey 2022 produced by seven real estate organizations.

Investors in for rude awakening on alts returns
Pensions & Investments - September 16, 2022
Alternative investments proved to be the top-performing sectors in the wild ride of a fiscal year, but bad news is coming when managers report their actual June 30 returns this fall, industry insiders said. For example, real estate investors expect total returns to plunge to 4.4% in calendar year 2023 from an estimated 8.8% in 2022, according to the results of the Pension Real Estate Association's third-quarter consensus forecast survey of the U.S. commercial real estate market, released Sept. 13.

More warehouses are on their way to Lehigh Valley, with no end in sight. What is fueling the boom?
The Morning Call - June 3, 2022
For those who want the flow of warehouses into the Lehigh Valley to stop, some bad news: Demand is far from waning and more are on the way. Pension Real Estate Association Director of Research Greg MacKinnon told S&P that “industrial continues to benefit from the boom in online retailing, and huge demand for modern logistics space, which was only accelerated by COVID-19.”

Climate-Change Risks Get the Attention of Real Estate Investors
New York Times - April 19, 2022
They are thinking more seriously about flooding, but a lack of established standards for assessing development projects is challenging their efforts. “People are struggling with how to really measure the risk from climate change,” said Greg MacKinnon, director of research at the Pension Real Estate Association, a trade group. “The science of looking at how climate change and extreme weather can affect properties is at its infancy.”

Pension Funds Eye Higher Real Estate Allocations
Wealth Management - April 11, 2022
With asset managers projecting annual total returns north of 7.0 percent through 2026, pension funds remain bullish on commercial real estate.

CRE Investors Driving ESG Into Greater Focus
Commercial Observer - April 4, 2022
As more commercial real estate investors than ever appear to be considering environmental, social and governance (ESG) standards, experts say the post-pandemic climate could prove a watershed for the industry as executives face more scrutiny over their properties. 

Investors jump in early in industrial sector
Pensions & Investments - March 28, 2022
The already hot industrial real estate sector is burning up with demand that's so fierce investors increasingly are competing to buy warehouses before they are built or leased.

War's effects could spread to global economic growth
Pensions & Investments - March 14, 2022
The key to performance across private markets portfolios — economic growth — is being threatened by the war in Ukraine, industry insiders say. "From a purely investment perspective, the question is if and how the situation in Ukraine may affect economic growth going forward. Unfortunately, I don't think the answer is clear," said Greg MacKinnon, Hartford, Conn.-based director of research at the Pension Real Estate Association, in an email.

Inflation Fears and Commercial Real Estate
Commercial Property Executive - December 15, 2021
A recent study by Greg MacKinnon, research director of the Pension Real Estate Association, found that commercial real estate performance has been good during periods of high inflation and that returns are much more closely correlated to growth than inflation.

Ivanhoe Cambridge takes home inaugural ESG award from PREA
Pensions & Investments - November 15, 2021

The Pension Real Estate Association is doubling down on environmental, social and governance issues, creating a new set of ESG awards, this time for asset owners.

Real estate associations launch diversity, inclusion benchmark
IP&E Real Assets - September 8, 2021

Seven commercial real estate (CRE) associations have teamed up to launch a global diversity, equity and inclusion (DEI) benchmark. ANREV, INREV, NAREIM, NCREIF, PREA, REALPAC and ULI have partnered to support and expand the Global Real Estate DEI Survey. 

Investors hungry for industrial properties
Pensions & Investments - April 5, 2021

Before the pandemic, industrial properties were a more of a snack than a main course among real estate's primary food groups, but investors' voracious appetite for the sector may result in it occupying a larger place in their portfolios. 

PREA announces first ESG fund awards
Pensions & Investments - March 26, 2021

The Pension Real Estate Association on Thursday announced the winners of its inaugural real estate investment management ESG awards, with the 2021 open-end fund award going to Hines Pan-European Core Fund and the closed-end fund ESG award to Institutional Multifamily Partners, the real estate trade organization announced.

Leading indicators of the potential long-term effects of COVID-19 on CRE
Institutional Real Estate Inc. - March 12, 2021

Martha Peyton, is the managing director of Real Assets Applied Research at Aegon Asset Management. In a Q&A with IREI, Peyton discusses how consumer behavior is informing CRE trends, how macroeconomic factors are coming in to play and the outlook for investment performance in 2021.

Strong appetite for Asia-Pacific real estate
The Asset - January 13, 2021

Institutional investors plan to stick to their investment plans for non-listed real estate in Asia-Pacific in 2021, a new survey finds. Despite the market turbulence last year, 77% of investors said the coronavirus pandemic has not changed their investment plans in the region. 

Investors pile into real estate with hope of better returns    
Pensions & Investments - January 11, 2021

After a three- to six-month coronavirus-induced pause, investor interest in real estate is ramping up as a source of yield in a low-interest-rate world, which is expected to continue into 2021.

Investors push alternative managers closer on ESG    
Pensions & Investments - January 11, 2021
Alternative investment managers are stepping up their environmental, social, and corporate governance efforts including diversity and inclusion, pushed along by investors' increasing demands for accountability.

PREA’s All-Property Returns Forecast Brightens    
National Real Estate Investor - December 14, 2020
Previously, pension funds had forecast the NCREIF All-Property Index to end 2020 in negative territory.

Advancing Women in Real Estate  
Multi-Housing News - December 4, 2020

How Bell Partners President Lili Dunn is changing the female role within the industry.

Where the Value Declines Will Be the Worst - October 28, 2020

Owners are valuing properties on pre-COVID performance, while opportunistic buyers are looking at the new reality.

This commercial property type is booming during COVID-19
yahoo!finance - October 27, 2020

Warehouses, fulfillment centers and other industrial properties are the one bright spot in the commercial real estate industry, which has otherwise been pummeled by the coronavirus pandemic.

PREA Consensus Survey Predicts a Dismal Year in NCREIF Returns    
National Real Estate Investor - September 9, 2020

The third quarter of 2020 consensus survey forecast from the Pension Real Estate Association shows pension fund investors expect the overall NCREIF Property Index of total returns (NPI) to decline by 2.7 percent in 2020. However, PREA survey responders forecast the NPI will rebound to grow by 2.5 percent next year and rise by 7.3 percent in 2022.

Trade Group Shining Spotlight on Diversity    
Real Estate Alert - August 26, 2020

Nareim, the trade group for commercial real estate investors, is preparing to survey firms about the gender and racial makeup of their staffs in order to measure and promote diversity in the sector.

CRE Is Starting to Solve Its Diversity Problem - August 14, 2020

The most recent conversation around racial equality has helped wake the CRE industry up to the issue and solve it.

Retail is quickly losing its luster among investors
Pensions & Investments - July 13, 2020

Woes created by virus causing further harm to already bruised sector

Coronavirus fallout: Is commercial real estate headed for a crash?
The San Diego Union-Tribune - June 20, 2020

Miller estimates that rent collections are down 12 percent in the office sector from tenants no longer paying their leases, based on survey data from Pension Real Estate Association and other sources.

Institutional Real Estate Investors Worry About Unstable Property Appraisals: PREA  
Bisnow - May 20, 2020

Pension fund investors fear the impact post-coronavirus commercial real estate appraisals will have on CRE investments, according to a new Pension Real Estate Association survey.

US open-ended property funds 'gating' distributions and redemptions, say investors
IP&E Real Estate - May 19, 2020
A survey published by the Pension Real Estate Association (PREA) on Monday revealed that 67% of US investors expect current appraisal valuations of real estate assets to “contain material uncertainties”, and a further 23.9% anticipate they will be “less accurate estimate of true value currently than under normal circumstances”.

Trade organizations focus on paths to improve diversity
Pensions & Investments - May 15, 2020
The Pension Real Estate Association's foundation in March announced a $4 million grant to Sponsors for Educational Opportunity, a non-profit aiming to offer educational and career opportunities to underserved communities, to support the development and growth of a real estate program, said Deborah Harmon, CEO and co-founder of real estate money manager Artemis Real Estate Partners.

And the malls come tumbling down
RetailDive - May 7, 2020

By the time the COVID-19 pandemic led to the temporary closure of nearly all retail, traffic at America's malls for years had already been steadily diminishing, sending vacancies up and rents down at many.

Returns At Risk For Pension Funds Invested In CRE
Bisnow - May 6, 2020

Payments from pension funds keep thousands of Americans afloat financially, but their returns have been shrinking for roughly the last decade. The fate of these funds and their commercial real estate investments are even more worrisome in the wake of the coronavirus crisis.

Planning For Survival: Holding On to the Cash You Have
Bloomberg - May 4, 2020
What to do when not a lot of money is coming in and expenses are chugging along.

Institutional Investors Eye CRE Valuations, As Market Whipsaws Continue  
Bisnow - May 3, 2020
As public equities-laden pension funds reel from massive hits leveled by stock market volatility this year, commercial real estate will likely continue growing in importance for institutional investors in the long term, experts say.

What will retail’s normal look like after COVID-19?   
ICSC - April 30, 2020
About 50 percent of the 1,000 U.S. malls anchored by department stores in America are vulnerable to permanent closure by the end of 2021, according to Green Street Advisors. If struggling department store anchors go out of business amid COVID-19, other troubled tenants at those shopping centers likely will activate lease clauses to shutter their stores, as well, the report said.

UNC experts: Coronavirus is speeding up changes in the economy that were already there   
The News & Observer - April 28, 2020
According to a panel of University of North Carolina business and real estate professors, retail will survive the coronavirus, but it will become different along with consumer behavior.

Virus Plunged Consumer Confidence Into Death Spiral    
Courthouse News Service - April 28, 2020

Overshadowing the few signs of encouragement, an index that monitors consumer attitudes showed unprecedented anxiety Tuesday.

PREA Survey: 67 Percent of Respondents Lost Deals Due to Coronavirus    
Commercial Observer - April 5, 2020

The Pension Real Estate Association (PREA) conducted a survey of its members last week to examine how the institutional real estate investment industry is responding to the COVID-19 pandemic.

COVID-19 Is (Probably) Pushing Down The Value Of Commercial Property   
Bisnow - April 1, 2020

The COVID-19 pandemic, which has killed more than 40,000 people around the world, is impacting the commercial real estate market in ways both large and small. Though it is hard to get a firm picture amid the uncertainty, property valuations are likely taking a hit.

Seven CRE Professionals Offer Their Takes on Work and Life While Sheltering in Place 
National Real Estate Investor - March 30, 2020

We spoke to industry insiders in locations with shelter-in-place orders. Here’s how they are staying sane and productive.

Private Equity RE Funds Feel Pressure from Investors to Create ESG Policies  
National Real Estate Investor - March 24, 2020

Institutional investors have been slowly increasing their mandates for environmental, social and governance requirements, forcing real estate funds to adapt.

Covid-19: Immediate and long-term effects on real estate could be substantial
IPE Real Estate - March 17, 2020

Institutional real estate investors are busy digesting the full implications of the Covid-19 pandemic and how the fallout could have long-lasting effects on the asset class.

The Show Must Go On: CRE in a Coronavirus Slowdown 
RCA Insights - March 9, 2020
I spent a good part of last week at the Pension Real Estate Association (PREA) spring conference in Los Angeles. Talking with participants at the meeting and listening to the observations of Mohamed El-Erian, it is clear to me that a period of economic weakness, perhaps even a recession, is ahead. Still, even with an economic downturn triggered by COVID-19, commercial real estate investments might weather this panic without major damage.

PREA Foundation and SEO Partner to Advance Diversity and Inclusion in Real Estate 
PREA - March 3, 2020
PREA Foundation, the philanthropic arm of the Pension Real Estate Association, has partnered with Sponsors for Educational Opportunity (SEO) to create a first-of-its-kind real estate training program for qualified Black, Hispanic, and Native American undergraduates. PREA Foundation has provided initial funding of $4 million to support the development and growth of the PREA/SEO Real Estate Track to train and place interns and entry- level candidates at top real estate firms. The partnership aims to increase diverse employment in the commercial real estate industry by developing a pipeline of talented students of color.

Real estate industry associations agree to global standard to measure fees and costs    
Institutional Real Estate, Inc. - January 30, 2020 

The principal global real estate associations, ANREV, NCREIF, PREA and INREV, have reached unanimous agreement to the new Total Global Expense Ratio, which sets out a standardized approach for measuring the total fees and costs of real estate investment vehicles, enabling investors and managers to compare vehicles across different regions. (Subscription required.)

77.5% of investors expect to increase their allocation to Asia Pacific real estate in 2020    
Institutional Real Estate, Inc. - January 17, 2020 
Institutional investors have signalled a greater appetite for risk in the year ahead, according to the global Investment Intentions Survey 2020, published by ANREV, INREV and PREA. (Subscription required.)

Europe and Asia Pacific ranked as top investment destinations in 2020    
The Edge Property - January 17, 2020 
The lion's share, or 45%, of total real estate investment capital deployed this year is expected to find its way to Europe, according to a published survey. The Asia Pacific region is likely to attract 31.9% of capital this year, significantly increasing from 19.6% in 2019.

CalPERS increases the core weighting of its $33.4bn real estate portfolio     
IPE Real Estate - November 15, 2019 
The California Public Employees' Retirement System (CalPERS) has increased the core weighting of its $33.4bn (€29.8bn) real estate portfolio from 78% to 85% over the past 12 months.

A hot time for those seeking the cold    
Pensions & Investments - November 11, 2019 
Cold storage warehouses become the new darling for real estate investors wanting next cool niche.

Foreign investors hunt for yield in New York skyline  
Financial Times - September 30, 2019 

Investors, managers go where the technology is  
Pensions & Investments - September 30, 2019 
Cell towers and data centers become hot properties for those shying away from core.

PREA Survey Continues to Show Expectations of Moderating Growth, but Sentiment Ticked Up from the Second Quarter
National Real Estate Investor - September 18, 2019 
A third quarter consensus forecast survey from PREA predicts that growth on the NCREIF all-property index will move to the 4 percent range by 2021.

Pension Funds Expect Near-Term Lift in CRE Performance
National Real Estate Investor - July 3, 2019 
Results from the second quarter Pension Real Estate Association (PREA) Consensus Forecast show a subtle rise in sentiment regarding total return expectations over the near term.

Craning to see the horizon: Is the bull run in U.S. real estate over
Canadian Investment Review - April 5, 2019 
Real estate remains a popular asset class for institutional investors seeking to diversify their sources of real returns. As the economic cycle reaches its late stages, where can investors find the best real estate opportunities? Has core real estate in the U.S. run its course?

Half of institutional investors plan to boost real estate holdings: survey
Canadian Investment Review - January 29, 2019 
Half of global institutional investors are anticipating an increase in their allocations to real estate over the next two years, according to the Pension Real Estate Association’s 2019 investor intentions survey.

Institutional Investors Plan to Come Back to Targeting Core CRE, New Intentions Survey Shows
National Real Estate Investor - January 25, 2019 
A 2019 Investor Intentions Survey compiled by PREA, INREV and ANREV found institutional investors are coming back to core strategies.

LA Fire & Police considers in-house management of real estate investments  
IPE Real Assets - January 22, 2019  
Los Angeles Fire & Police Pensions (LAFPP) is considering setting up a direct real estate investment strategy that would be managed in-house. LAFPP noted that research by the Pension Real Estate Association shows that around 40% of pension funds globally make the direct investments.

Gap between actual and target allocations to real estate narrows dramatically, says INREV, ANREV and PREA  
Property Funds World - January 11, 2019  
Current average allocations to real estate increased to 10.0 per cent from 8.9 per cent in 2018, against an increase in target allocations from 10.2 per cent to 10.4 per cent, significantly narrowing the gap between the two for the first time, according to the global Investment Intentions Survey 2019, published by INREV, ANREV and PREA.

What's ahead for commercial real estate investors, and why markets like Charlotte are still attractive 
Charlotte Business Journal - November 9, 2018  
Greg MacKinnon, director of research at Pension Real Estate Association, said that commercial real estate generally continues to remain an attractive investment opportunity for institutional capital. 

Next target for improved data analysis: real estate    
Pensions & Investments - October 15, 2018 
"Technology empowers our analytics," said Ashbel C. Williams Jr., executive director and chief investment officer, Florida State Board of Administration, Tallahassee, which oversees money management of the $160.4 billion pension fund. Mr. Williams was speaking Oct. 5 on a panel at the Pension Real Association's 28th Annual Institutional Investor Conference in Boston.  

Real estate managers seek edge with better data, tech experts    
Pensions & Investments - October 15, 2018  
The new hot jobs in real estate are data scientists and technology experts as managers try to adapt to a new way of doing business. 

Growth in Total Returns on CRE Investment Will Decelerate Over the Next Two Years, PREA Survey Respondents Predict    
National Real Estate Investor - September 25, 2018  
PREA's third quarter consensus forecast survey shows investors expect total return growth on all commercial property types to slow between 2018 and 2010.

A 2018 Mid-Year Investment Update on the Student Housing Sector    
National Real Estate Investor - September 24, 2018  
As foreign and institutional investors seek portfolio diversification capital is likely to continue flowing into student housing properties.

Are we due a real estate downturn?  
IPE Real Estate - September 19, 2018  
Real estate markets today pose a conundrum. By historical standards, a correction is overdue, and predictions that 'this time will different' are usually the result of naïve, wishful thinking. But investors would struggle to find reasons to be pessimistic about the next 18 months when looking at the market.

Pension Funds Hunt for Higher Yields in CRE  
National Real Estate Investor - June 20, 2018  
Pension funds still have a healthy appetite for commercial real estate, with firms raising allocations even as industry returns decline.

Brace for impact in real estate, PREA conference attendees told   
Pensions & Investments - March 9, 2018  
Winter is coming to the economy — or at least a substantial snowstorm — that will impact real estate in a few years, said Kenneth Rosen, chairman, Fisher Center for Real Estate and Urban Economics at UC Berkeley to an audience at the Pension Real Estate Association's Spring Conference in Beverly Hills, Calif.

Are real estate investors increasing risk to maintain target returns??   
IPE Real Estate - January 17, 2018  
New survey findings have raised the question of whether global institutional real estate investors are taking on undue levels of risk to maintain return targets.

Investors set to increase allocations to real estate in 2018, says survey    
Property Funds World - January 17, 2018  
Data from the global Investment Intentions Survey 2018, published today by INREV, ANREV and PREA, suggests continued positive sentiment toward real estate in general, and non-listed real estate in particular. The survey reinforces a continuing favourable upward trend.

Real estate 2018 outlook: A year of moderation   
IPE Real Estate - December 22, 2017  
Will 2018 be the year the world turned flat? For real estate investors, it looks a foregone conclusion.

Pension Funds Lower Their CRE Returns Outlook for 2018-2019    
National Real Estate Investor - December 13, 2017  
The fourth quarter 2017 PREA Consensus Forecast shows that respondents anticipate getting a total return of 5.6 for all property types on the NCREIF Property Index in 2018.

Pension Fund Investors Expect an Era of Lower Returns on Real Estate Plays  
National Real Estate Investor - April 6, 2017  
In 2017, institutional investors are demonstrating increased interest in data centers, student housing, seniors housing and self-storage, according to Greg MacKinnon, director of research at the Pension Real Estate Association (PREA), reflecting a strategy shift from years past.

Institutional Investors Coming Around to Student Housing, Sector Seen as Recession-Resistant Alternative to Apts.  
CoStar - March 30, 2017  
Once an overlooked niche, the student housing sector is attracting increased attention from major investors, who see the sector as offering less rental growth volatility and a recession-resistant hedge to conventional apartments.

Pension Funds Consider Alternative Assets  
National Real Estate Investor - January 18, 2017  
Institutional investors, including pension funds, are stepping outside the box, beyond the core asset types of office, industrial, retail and apartments, to consider a growing menu of alternative real estate options.

Over €50 billion anticipated for real estate investment in 2017 
Property Magazine International - January 18, 2017 
A minimum of €52.6 billion of capital is expected to be invested in global real estate during 2017. This represents a total average target allocation of 11.5% for investors ­ a gain of 1.5% from current allocations. These results from the global Investment Intentions Survey 2017, published today by INREV, ANREV and PREA, underline a continuing strong appetite for real estate among institutional investors, despite continuing global economic and geopolitical uncertainty. 

The Trump Era’s Impact On Real-Estate Values  
Barron's - November 18, 2016  
Historically, real estate values have increased when interest rates are rising. Another way to put this is that real estate is negatively correlated to bond values. Between 1978 and 2014, real estate had a -0.27 correlation with investment grade bonds, according to a Pension Real Estate Association (PREA) study.

How Will Trump's Presidency Impact the Commercial Real Estate Industry?  
National Real Estate Investor - November 10, 2016  
The commercial real estate industry has long been a major force in local and national politics, but that relationship has reached a new height on Tuesday, when a commercial real estate developer with little track record in public service won the election to be the 45th President of the United States.

More Pension Fund Money Flowing to Commercial Real Estate
National Real Estate Investor - October 19, 2016  
Pension funds have been following a clear path of increasing allocations to real estate over the past several years. Despite signs of a maturing market cycle, it appears that most institutions are likely to maintain that same course in 2017.

What Real Estate Investors Are Bracing For Through Year-End
National Real Estate Investor - August 2, 2016  
Global capital markets volatility, a continued low interest rate environment and increased financial regulation are just some of the pressures real estate investors are facing at this point in the cycle, prompting strategy tweaks with a renewed focus on capital preservation.

Real Estate Keeps Rolling in 'Long Eighth Inning'
FundFire Alts - a Financial Times Service - July 27, 2016  
(Subscription to FundFire is required to view this article.)

Pension Funds Lower Expectations for CRE
National Real Estate Investor - July 6, 2016
Pension funds are continuing to rein in expectations for commercial real estate investment performance. In the second-quarter 2016 Consensus Survey Forecast, total returns declined to 8.4 percent across all property types, followed by an expected further slide to 6.8 percent in 2017 and 5.7 percent in 2018, according to the Pension Real Estate Association (PREA).

MSCI: Investors calling 'timeout' on US real estate
IPE Real Estate - May 19, 2016
US real estate has “cooled” to its slowest quarter in five years, according to MSCI. MSCI recorded a total return of 2.03% in the first quarter of 2016 in its PREA/IPD US Quarterly Property Fund Index-All Funds.

Will CRE Prices Grow This Year? Six Market Experts Weigh In 
National Real Estate Investor - March 4, 2016
Is "flat price growth in 2006" a consensus forecast among commercial real estate economists and researchers? Not quite. We surveyed six industry experts and while their forecasts ranged considerably, only a few were in line with the recent forecast offered by Morgan Stanley. Here are their rough projections for 2016.

Surge in capital heading for real estate in 2016, says survey 
Property Funds World – January 13, 2016
Investors will commit a minimum of EUR48 billion to real estate in 2016 globally – an increase of almost 13 per cent compared with last year’s EUR42.5 billion – according to the Investment Intentions Survey 2016, published by INREV, ANREV and PREA..

Real estate investment expected to rise 13% in 2016 with largest focus on Europe 
Pensions & Investments – January 13, 2016
Investors are expected to commit at least €48 billion ($52.4 billion) to real estate this year, an increase of almost 13% compared with 2015 expectations.

Tokyo, Sydney, Shanghai? Which city is the top destination for global real estate investors? 
South China Morning Post - January 12, 2016 
Global real estate investors will splash out at least US$57.9 billion this year and increase their portfolio weightings on the sector, finds a new survey.The annual survey, in its ninth year, was carried out by the Asian Association for Investors in Non-listed Real Estate Vehicles (Anrev), The European Association for Investors in Non-Listed Real Estate Vehicles (Inrev) and Pension Real Estate Association (Prea).

Real Estate Pros Gear up for Value-Added, Core-Plus Push
FundFire Alts - a Financial Times Service - December 16, 2015  
(Subscription to FundFire is required to view this article.)

Pension Funds Brace for Lower Returns  
National Real Estate Investor - November 18, 2015 
Pension funds have enjoyed a nice run of double digit returns on their real estate investments in recent years. But looking ahead to 2016, pension funds are dialing back on expectations and tweaking investment strategies to account for slower growth ahead. According to the Pension Real Estate Association (PREA) Q3 Consensus Forecast Survey, the total return for all property types is expected to drop from 11.5 percent in 2015 to 8.5 percent in 2016 and 7.2 percent in 2017.

Opportunistic Real Estate Surges in Bumper Year  
FundFire Alts - a Financial Times Service - October 21, 2015 
(Subscription to FundFire is required to view this article.)

PREA conference: Europe has bottomed out, says Blackstone's Gray  
Investment & Pensions Europe - October 5, 2015 
European real estate has bottomed out, while the Brazilian market is similar to India several years ago, Blackstone's global head of real estate told the Pension Real Estate Association (PREA) last week.

Brazil has opportunities for those up to the challenge, PREA conference speakers say  
Pensions & Investments - October 2, 2015 
Real estate and logistics investments in Brazil are on Blackstone Group and GIC Real Estate's shortlist of interesting opportunities, according to speakers at the Pension Real Estate Association's 25th Annual Institutional Investor Real Estate Conference in San Francisco on Thursday Oct. 1. (Registration required.)

Blackstone's Gray Says REIT Buyouts Loom as Markets Too Bearish 
Bloomberg - October 1, 2015
Stock investors are too bearish on U.S. real estate, and the market's decline likely will lead to more takeovers of publicly traded landlords in the industry, said Jon Gray, global head of real estate at Blackstone Group LP, the largest private equity investor in property worldwide. "There's a disconnect, and that creates opportunity for us," and other investors, Gray said Thursday at a conference sponsored by the Pension Real Estate Association in San Francisco.

Pension funds diversify global real estate portfolios
RENX - September 16, 2015
Canadian and American pension funds are geographically diversifying their real estate portfolios, according to panelists at a breakfast event hosted by the Real Property Association of Canada and the United States-based Pension Real Estate Association in Toronto last week.

Real Estate Buzzes with Manager Acquisitions
FundFire Alts - a Financial Times Service - September 16, 2015 
(Subscription to FundFire is required to view this article.)

Too much money creates its own problems
The Real Deal - August 2015
While raising capital has almost never been easier for private funds and REITs, it is increasingly difficult to find profitable investment opportunities in major markets like New York City.

Are Private Equity Real Estate Funds Losing Their Edge?
National Real Estate Investor - July 22, 2015
Real estate private equity funds have been enjoying tremendous success in recent years. Part of that success is clearly coming from stellar returns related to alternative investments. Yet intense competition and a maturing market may prompt both fund managers and investors alike to adjust expectations going forward.

Real Estate Firms Rule Top Alts Manager Rankings
FundFire Alts - a Financial Times Service - July 15, 2015 
(Subscription to FundFire is required to view this article.)

PREA forecast: 2015 returns revised upward
Pensions & Investments - June 11, 2015
Real estate experts have increased their return expectations for 2015. According to the Pension Real Estate Association's second-quarter Consensus Forecast, respondents' average expected return in 2015 is 10.6%, up from 9.8% when the survey was last conducted three months ago. (Registration required.)

Let the good times unroll
PERE - May 2, 2015
US real estate has enjoyed robust returns for the past five years, but that may be starting to change, writes Greg MacKinnon, director of research at the Pension Real Estate Association.

Realty investors flock afresh to apt., retail pools
Hartford Business Journal - March 30, 2015
Chastened by the most recent real estate collapse but hungry for better returns, investors across Connecticut and the U.S. are pumping money into new investment pools that are buying up commercial properties mostly outside this state.

Real estate investors forecasting 10% returns in 2015
Pensions & Investments - March 13, 2015
The average forecast return in 2015 for the NCREIF Property index is 9.8%, according to The Pension Real Estate Association's latest consensus forecast survey, released Thursday. That figure is up 70 basis points from last quarter's survey when the average return forecast for 2015 was 9.1%. (Subscription or registration required.)

Investors Develop Expanded Appetite for Value-Add Product
National Real Estate Investor - March 11, 2015
Investors do not always agree on how they define "value-add" investment. But one thing they can agree on these days is that they want more of it.

Investment Intentions - United States: Hunting in the backyard
Investment & Pensions Europe - March 10, 2015
PREA's survey shows that domestic investors have been priced out of the major markets in the US, but they are still looking to deploy capital. Greg MacKinnon reports.

PREA: NYC real estate still top pick for institutions
IP Real Estate - January 22, 2015
New York remains the most sought after real estate market in the US, according to the Pension Real Estate Association (PREA). The Investment Intentions Survey, carried out with INREV and ANREV, found that the East Coast city was the most preferred market for 86.3% of institutional investors in 2015.

PREA Members Forecast Improvement for CRE Industry in 2015
National Real Estate Investor - December 15, 2014
The good times for commercial real estate are likely to keep going a little longer, according to experts surveyed for the latest Consensus Forecast survey from the Pension Real Estate Association (PREA).

Real estate return expectations rise for 2015
Pensions & Investments - December 10, 2014
Real estate investors are forecasting a 9.1% total return for the NCREIF Property index in 2015, up from 8.6% from a quarter ago, according to the Q4 Pension Real Estate Association Consensus Forecast survey.

PREA Survey Shows Commercial Real Estate Growth Expected to Slow
Commercial Property Executive - September 15, 2014
The Pension Real Estate Association’s newly released results of its latest Consensus Forecast Survey of the U.S. commercial real estate market showed a positive outlook for 2014, although things are expected to slow down in the ensuing years.

CBRE Boosts Co-investing as Funds of Funds Fade
FundFire Alts - a Financial Times Service - September 17, 2014 
(Subscription to FundFire is required to view this article.)

Private real estate return expectations rise more than 1 percentage point from prior quarter
Pensions & Investments - September 9, 2014
The average forecast return for the NCREIF Property index in 2014 rose more than one percentage point from a quarter ago, according to The Pension Real Estate Association's latest consensus survey, released Tuesday.

PREA: 2014 private real estate return expectations rise during the quarter
Pensions & Investments - June 9, 2014
The Pension Real Estate Association on Monday released the latest results of its Consensus Forecast survey. The average expected total return for the NCREIF Property index in 2014 is 9.5%.

The real world: U.S. real estate performance
Pensions & Investments - May 12, 2014
How U.S. real estate has performed during the five years through March 31, 2014, according to the NCREIF Property index.

CBRE, Clarion Peg Industrial as Real Estate Growth Driver
FundFire Alts - a Financial Times Service - April 2, 2014 
(Subscription to FundFire is required to view this article.) Is Said to Plan Sale of San Francisco Land
Bloomberg - March 11, 2014 Inc., the biggest maker of customer-management software, is preparing to put up for sale 14 acres (5.7 hectares) of land in San Francisco’s Mission Bay area.

US Real Estate Funds Draw Hungry Foreign Investors
FundFire Alts - a Financial Times Service - February 19, 2014 
(Subscription to FundFire is required to view this article.)

Projected real estate returns take optimistic turn
Pensions & Investments - March 11, 2014
Commercial real estate experts increased their return expectations for the asset class in 2014, according to the latest Pension Real Estate Association Consensus Forecast.


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