WELCOME TO ISSUE #19
Amidst rising geopolitical tensions, economic uncertainty, and adjacent pressures, one question stands out for investors: is the US still the right place for commercial real estate investment?
When it comes to real estate, institutional investors have something many individual investors can struggle to afford: patience.
And with their extensive systems of governance, compliance, ethics, and fiduciary responsibility, their view of the horizon is often leagues above what ordinary investors find at ground level.
As such, institutional investors are well positioned to follow the cycles set by real estate itself, which can often be influenced by current trends in the near term, but are otherwise subject to trends that extend far beyond the workaday economy.
In this context, data are referents, merely; consumer reports, migratory movements, technological advancements, and economic trends provide critical data, but so too does conviction, which is not easily quantified and thus not easily swayed by politicking or emotion. (Or as Benjamin Franklin once quipped: an investment in knowledge pays the best interest.”)
And in today’s global climate of weakening democracies; expanding combat zones in Europe, the Middle East, and parts of southeast Asia; a retreat from global neoliberal economics; and historical technological disruption (vis a vis the “AI revolution” and its marked impact on both broader labor trends and individual intellectual capacities), the role of America—and its longstanding position as a safe, stable destination for foreign direct investment in the commercial real estate space—is increasingly fractious, such that many investors are now questioning the continued prospect of America as a place to prove their real estate convictions.
The latest AFIRE survey report, which opens this issue, underscores this question, as respondents provide somewhat contradictory views on the future economic prospects for the US.
This contradiction is ultimately what inspired to frame the rest of the issue in kind: is the US still the right place for commercial real estate investment?
Likely yes, but the years ahead will require greater conviction than before. And so our contributors in this issue come armed with much needed context for refining investor knowledge, from effective AI governance to domestic migration to a closer look at non-US markets—including Canada and Mexico—which will likewise become an increasingly critical markets of question and interest for our association as we continue or ongoing evolution, within and beyond our membership, which now represents more than $4 trillion AUM around the world.
Capital is global, so where is the world going next?
– Benjamin van Loon, Editor-in-Chief
CONTENTS
Note from the Editor: Issue #19
Mid-Year Pulse: Global Investors on the Economy, Energy, and Housing
Benjamin van Loon | AFIRE
Bend, Not Break: Investing in Real Estate Amid Economic Uncertainty
John Murray + François Trausch + Russell Gannaway + Kirill Zavodov | PIMCO
Test Of Time: How US Real Estate Withstands an Uncertain Investment Market
Riaz Cassum | JLL
Oh Canada: Why International Investors Might Want a Second Look at Canadian Real Estate Markets
Amy Erixon + Long Tang + Daniel Goldberg + Marie-France Benoit | Avison Young
Beyond Oil: Why Gulf Family Offices Are Doubling Down on US Logistics, Data, and Housing
Abbas Hashmi | Saudi Family Holdings
South of the Border: Higher Yields and Growth in Mexican Industrial
Shaun Libou | Raymond James
Migration Myth: NIMBYism and Why Coastal Movers Aren’t Affecting Sunbelt Housing Supply
Donal Warde | Consultant + Ron Bekkerman | Constellation Data Labs
Machine Center: The AI-Driven Transformation of Data Center Investment
Sam Chandan | Chen Institute for Global Real Estate, NYU Stern School of Business
AI in Commercial Real Estate: A Practical Guide for Industry Leaders
Armel Traore Dit Nignan + Shaarvani Kavula | Principal Real Estate
Artificial Control: Are You Ready for AI Management and Oversight?
Marie-Noelle Brisson + Michael Savoie | CyberReady, LLC
Capitalizing on Dynamics: Demographic Mega-Trends Impacting CRE
Stewart Rubin | New York Life Real Estate Investors
Mid-Cap Assets: An Under-Examined Segment in CRE
Asaf Rosenheim | Profimex
The Lifestyle Renter: A Growing Opportunity for Strategic Investment in High-Quality Apartment Communities
Hannah Waldman | The Dermot Company
The Climate Is Speaking: CRE Underwriting for a Future That’s Listening
Ines Diez + Thomas Stanchak | Stoneweg
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From sourcing acquisitions and raising capital to accounting, debt management, performance benchmarking, and investor reporting, Yardi helps streamline complex processes into one integrated platform. Investors gain secure, self-service access to reports, documents, and investment positions, while investment firms benefit from improved collaboration, faster distributions, and scalable operations.
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