Investment Outlook: Opportunistic Patience Prevails
As the data from the first half of 2023 continues to be posted, we offer our interpretation of the findings within the context of real estate investing.
The report focuses on three key themes:
- Our Chief Investment Officer David Steinbach shares four macro factors that are impacting the sector and shaping how we build, buy, and operate real estate— both now and over the longer term.
- Our Head of Global Research Josh Scoville provides an update on the more immediate signals he is watching to indicate when we should pivot from a patient, defensive stance to a more aggressive, opportunistic, and offensive one.
- Regional overviews that describe the current real estate markets in Asia, Europe, and the Americas.
We hope the analysis presented in this paper will be a valuable resource to others shaping their own decisions. In our opinion, neither inflation nor the capital markets—both central to liquidity in real estate—have yet turned the corner.
Thus, we remain patient and prudent, seeking capital investments with fundamentals that show opportunities for market-beating returns ahead. With a strong cash position and specific views on the type of real estate assets that will prevail in each sector, we move confidently into the remaining months of 2023 with strong convictions on where to find compelling real estate investment opportunities.