Global CRE needs a reset for real recovery to take hold

With interest rates staying high and closed-end funds already sitting on a large volume of investors’ capital, global real estate fundraising looks set to stay in the doldrums. We think the sector still needs a pricing reset that will get buyers and sellers onto the same page, distressed assets sold and unrealised capital in older closed-ended funds returned to investors. That will help recycle capital into new, profitable opportunities and support the nascent recovery in activity.