U.S. real estate investors are recalibrating strategies in light of a post-election policy reset, moderating but uncertain Fed signals, and shifting demographic and labor dynamics. Insurance and climate risk are creating unexpected headwinds, while migration trends continue to reshape where capital and tenants flow across regions.

• How will Fed policy in early 2026 shape investment activity?
• How are shifts in Fed policy influencing valuation models and deal underwriting?
• How might the appointment of a new Federal Reserve chair after May 2026 influence real estate markets, financing conditions, and investment strategy?
• Which regulatory and fiscal changes post-election carry the biggest weight for CRE?
• How are migration and labor trends influencing market demand?
• How do these trends intersect with supply chain reshoring into the U.S. and Mexico?
• Where are insurance and climate costs altering underwriting assumptions most?
• How are regional banks adjusting their CRE lending portfolios?
• Which U.S. markets are most vulnerable to valuation swings in 2026?

Dry powder remains at historic levels, but capital is flowing selectively. Rate stabilization has created pockets of renewed activity, yet liquidity remains uneven across property types. Investors are scrutinizing whether 2026 will finally mark a more broad-based reopening of the markets—or whether capital will continue to cluster narrowly.

• Has the current rate environment accelerated or slowed meaningful investment?
• Where is new equity demand strongest, and who is supplying it?
• Are REITs regaining momentum, or are private funds still leading?
• Which asset classes remain overvalued in light of global capital rebalancing?
• How are portfolio strategies shifting across sectors and regions?
• How is foreign LP appetite influencing U.S. portfolio strategies?
• How are cross-border investors recalibrating U.S. allocations amid global uncertainty?
• Is sovereign wealth capital from the Middle East and Asia increasing or retreating from U.S. CRE?
• What are the most important global drivers of U.S. deal flow in 2026?
• What conditions could unlock broader liquidity in the year ahead?

With inflationary pressures, potential economic slowdown, and rising construction and operating costs, real estate funds face complex challenges. Managing slowing rent growth, higher delinquency risks, and increasing capital expenditures requires strategic underwriting, creative deal structuring, and proactive portfolio management. Understanding these dynamics is essential for preserving returns and mitigating risk.

• How are funds managing rising build costs and operating expenses amid inflationary pressures?
• What strategies are being employed to address slowing rent growth and occupancy trends?
• How are delinquency risks and tenant credit concerns impacting underwriting and asset management?
• Which sales incentives are being used to sustain leasing and stabilize cash flow?
• How are debt structures and refinancing plans being adjusted in light of current market uncertainty?
• Are funds shifting investment focus to certain asset classes, markets, or property types to mitigate risk?
• What lessons from past downturns are informing current portfolio and risk management strategies?

Energy volatility, supply chain realignment, and shifting trade relationships are influencing U.S. demand patterns. Sovereign wealth reallocations and foreign capital retrenchment are affecting cross-border flows. At the same time, geopolitical tensions are adding uncertainty to inflation and investor sentiment. U.S. real estate sits at the intersection of global risk and opportunity.

• How is supply chain realignment—including reshoring and nearshoring—shaping U.S. industrial demand?
• Which geopolitical flashpoints carry the greatest implications for U.S. CRE in 2026?
• How could geopolitical risks—Ukraine, Middle East, Taiwan—affect inflation, rates, and CRE capital markets?
• Are foreign allocators retreating from or doubling down on U.S. exposure?
• Does U.S. real estate still serve as a global safe haven?
• How are managers accounting for geopolitical risk in underwriting and return assumptions?
• Where could geopolitical disruption create overlooked opportunities in the U.S. market?

Bank portfolios remain under pressure, but loan sale activity has been uneven. Pricing clarity is improving, though stress remains concentrated in office and select retail. Investors are weighing how much opportunity exists in acquiring loans versus equity, and how banks will navigate regulatory and balance sheet challenges in 2026.

• Where is stress most concentrated in CRE loan portfolios?
• How are banks structuring and marketing their loan sales?
• Which sectors beyond office show signs of growing stress?
• What diligence approaches are most effective for portfolio acquisitions?
• How are regulatory pressures shaping loan disposition strategies?
• Where are the most attractive opportunities in loan sales today?

Credit markets remain fragmented heading into 2026, with regional banks cautious, securitization windows unpredictable, and private credit stepping into the void. Investors and borrowers alike are searching for clarity on how capital availability, pricing, and risk appetite are shifting as refinancing needs collide with tighter lending standards.

• How are banks, life companies, and private credit providers recalibrating their roles in today’s market?
• Which deal types are clearing despite higher capital costs?
• Where is capital still available—for development, for bridge, for recapitalizations?
• How are global macro factors influencing U.S. debt liquidity?
• What distinguishes this cycle’s financing challenges from past downturns?
• Are lenders’ yield targets diverging from borrowers’ expectations?

As investors weigh the Fed’s rate path and election-year policy uncertainty, senior lenders face pressure to balance risk and competitiveness. With origination volumes uneven and spreads still wide, the outlook for senior debt remains unsettled. Who is writing checks, for what deals, and on what terms in 2026?

• What are the most realistic expectations for interest rate trends over the next 12 months?
• How do banks, insurance companies, CMBS, and debt funds compare in activity and risk appetite?
• What types of borrowers and projects are most financeable today?
• How is lender underwriting evolving around valuations and debt service coverage?
• Where are distressed opportunities most attractive to senior lenders?
• What shifts are emerging in borrower equity requirements?

With borrowers scrambling to fill financing gaps, capital providers in the mezzanine, preferred equity, and bridge loan space have become critical players. Meanwhile, momentum in clean energy financing and C-PACE is expanding options. The question is not just who is lending, but under what structures and long-term viability.

• How are mezzanine and pref equity providers structuring deals in this climate?
• Are borrowers turning to this part of the stack more often due to senior lender pullback?
• What’s the outlook for CMBS and CLO markets—will they stabilize or retrench?
• How are construction loans getting financed, if at all?
• Which asset types are most attractive for PACE financing today?
• What long-term advantages does C-PACE offer beyond sustainability compliance?

As more loans come due, borrowers face stark choices: restructure, refinance, or sell. With valuations uneven and liquidity thin, owners need creative approaches to preserve assets—or cut losses strategically. Options range from workouts to recapitalizations to sale-leasebacks, depending on leverage, performance, and long-term capital strategy.

• What are the full range of options for owners in default today?
• How are lenders approaching extensions, modifications, and refinancings?
• What role do advisory teams play in charting a path forward?
• How are owners balancing selling “winners” versus restructuring “losers”?
• When does a sale-leaseback make sense as a recapitalization tool?
• How does capital distress differ when the underlying performance is still strong?

Workout playbooks from past downturns provide useful guideposts, but today’s mix of high rates, geopolitical uncertainty, and insurance cost spikes require new approaches. Restructuring is rarely one-size-fits-all; timing, counterparties, and loan structure all matter. Understanding what’s different now is crucial for navigating the next 18 months.

• When does restructuring make sense—and when does it only delay the inevitable?
• How do lender and borrower profiles affect restructuring outcomes?
• What’s the process and timeline for initiating negotiations with lenders?
• Which parties and expertise are essential in a workout today?
• What lessons from past recessions remain relevant—and which no longer apply?
• How do rising insurance premiums and caps alter the math?

Private REITs, open-ended funds, and other permanent capital structures are regaining footing after redemption pressures. Allocators are still drawn to long-term exposure, but fee structures, liquidity provisions, and governance terms are under sharper review. Managers are recalibrating how these vehicles fit into broader fundraising strategies in a more selective market.

• How attractive are PCVs compared to closed-end funds in today’s market?
• What changes are being made to reduce redemption and liquidity risks?
• Who is still allocating capital to PCVs, and in what volume?
• How do PCVs complement managers’ broader capital strategies?
• What lessons have been learned from recent redemption cycles?
• How are PCVs influencing the overall fundraising environment?

Tax strategy and compliance are central to maximizing returns in 2026. With recent legislative changes, evolving SEC disclosure requirements, and new regulatory technologies, managers face a complex landscape. From structuring efficiencies to K-1 management, proactive planning can mean the difference between operational friction and improved fund performance.

• Which recent tax law changes are most impacting fund structuring today?
• How are managers using tax-efficient structures to enhance returns?
• What are the latest SEC disclosure and compliance expectations for GPs?
• How are 1031 exchanges being approached amid longer hold periods?
• What innovations are easing the burden of K-1s and compliance workflows?
• Where does AI fit into simplifying regulatory management?
• Which pending policy changes could reshape fund tax strategies in 2026?

Fund administration has become more sophisticated, driven by investor demand for real-time transparency and the need for efficiency. Outsourcing, technology integration, and standardized reporting are reshaping expectations. GPs must balance cost, control, and credibility, while administrators are increasingly strategic partners in managing information, compliance, and investor confidence.

• Which administrative functions add the most value when outsourced today?
• How are GPs leveraging technology to streamline reporting and operations?
• What reporting capabilities are now baseline expectations for LPs?
• Where does responsibility for transparency sit across fund operations?
• How can administrators and GPs collaborate to improve budgeting and reforecasting?
• What are best practices for balancing efficiency with depth of reporting?
• How are evolving investor demands pushing the next wave of fund admin innovation?

Industrial markets remain resilient, though growth is no longer uniform. Cooling e-commerce demand, moderate rent growth, and selective regional supply require disciplined capital deployment. Reshoring and advanced manufacturing continue to drive pockets of opportunity, making careful market analysis and strategy alignment essential for funds pursuing industrial allocations.

• Which industrial markets are most attractive to private capital in 2026?
• Has reshoring generated meaningful, sustained demand?
• How are lenders and equity investors adjusting underwriting assumptions?
• Are certain sub-markets overbuilt, and how is this influencing valuations?
• How do policy changes post-election impact logistics and infrastructure investment?
• Are core versus opportunistic industrial strategies seeing differing capital flows?
• How does global supply chain realignment affect U.S. industrial and logistics investing?

Data center demand is surging, driven by AI, cloud adoption, and digital infrastructure expansion. Rising power costs and land constraints create challenges, while valuations remain attractive relative to other industrial assets. Funds must evaluate operational expertise, urban edge opportunities, and long-term demand stability to capitalize on this high-growth, technology-dependent sector.

• How are rising power costs influencing site selection?
• Are edge data centers gaining traction in urban hubs?
• How do valuations compare to traditional industrial properties?
• Where are REITs and private funds diverging in strategy?
• How is institutional capital approaching data center investments in 2026?
• What operational expertise is necessary for value creation?

Multifamily is normalizing after several years of growth. New supply peaks in certain metros, while affordability pressures persist. Investors are fine-tuning value-add strategies, amenities, and mixed-income developments, recalibrating underwriting assumptions for cap rates, rents, and regulatory incentives, including post-election housing policy, to identify durable returns across urban, suburban, and secondary markets.

• Which metros are oversupplied or undersupplied in 2026?
• How are cap rates and rent assumptions evolving?
• Are value-add plays still delivering strong returns?
• How do mixed-use or mixed-income strategies perform across markets?
• How are regulatory changes shaping development incentives?
• What amenities drive tenant retention and market competitiveness?

Alternative rental housing—including single-family, build-to-rent, student, senior, active adult, and short-term rentals—continues maturing as an institutional asset class. Supply-demand dynamics vary by market and property type. Investors are weighing growth prospects, operational complexity, and capital sources to optimize allocation and risk-adjusted returns across a broad spectrum of rental products.

• Which alternative rental sectors show durable demand and growth?
• How do operating models differ across SFR, student, senior, and short-term rentals?
• Where are oversupply risks emerging, and which markets are underpenetrated?
• How are capital providers approaching alternative rental housing in 2026?
• What macro and demographic factors most influence performance?
• How do investment strategies vary for hold-manage versus flip-resale approaches?

The office sector faces uneven recovery as hybrid work patterns persist and capital costs remain high. Some metros show early signs of stabilization, while others grapple with underutilized or ‘zombie’ properties. Understanding where repositioning, conversions, or opportunistic acquisitions create value is critical for investors navigating this transitional environment.

• Which U.S. metros are seeing tangible improvement in occupancy and absorption?
• How are investors pricing risk across Class A, B, and C properties?
• Are office-to-residential or mixed-use conversions financially viable in 2026?
• How long will the flight-to-quality trend continue?
• What role are lenders and private capital playing in supporting repositioning efforts?
• How are corporate tenants adjusting office footprints amid persistent remote work?

Industrial is increasingly segmented. Cold storage, last-mile hubs, small-bay flex, and manufacturing spaces each come with distinct demand drivers, tenant expectations, and development requirements. Evaluating operational efficiencies, technology integration, and capital needs across sub-sectors helps investors target the highest-return opportunities while avoiding overbuilt or misaligned projects.

• Which sub-sectors have the strongest fundamentals heading into 2026?
• How do single-tenant versus multi-tenant strategies compare?
• Which industrial conversions are delivering viable returns?
• How is technology shaping tenant expectations and property design?
• Where do economies of scale impact development feasibility?
• How are LPs allocating to niche industrial opportunities?

Retail is far from uniform: grocery-anchored, necessity-based, and mixed-use properties perform strongly, while malls and lifestyle centers face ongoing challenges. Investors are rethinking valuation, technology adoption, and demographic targeting, seeking opportunities that combine resilience with upside in an environment shaped by consumer behavior shifts and higher financing costs.

• Which retail formats are capturing investor interest in 2026?
• How are valuation methodologies adapting to sector shifts?
• Are distressed retail assets presenting viable opportunities?
• How is technology—AI, automation, and logistics—impacting retail operations and investment?
• Which urban and suburban markets show the strongest demand?
• Are net lease structures still attractive to investors?

Hospitality continues to normalize, yet performance varies by sub-sector. Extended-stay, select-service, and leisure-focused assets outperform urban full-service hotels. Investors are leveraging repositioning, conversion strategies, and selective financing to identify value. Understanding evolving guest expectations and market dynamics is essential for capturing returns while mitigating risk in a fragmented landscape.

• Which hospitality sub-sectors are outperforming in early 2026?
• How are financing terms shifting for acquisitions versus development?
• Are hotel conversions into alternative uses delivering expected returns?
• How are investor strategies evolving around operational efficiencies and repositioning?
• Which secondary markets offer untapped opportunity?
• How are LPs shaping investment mandates in hospitality?

Historically niche assets—from life sciences to self-storage to outdoor lodging—are attracting institutional attention. Strong GP/OP partnerships and portfolio diversification are key to entering these markets. Investors must weigh risk, capital structure, and liquidity while evaluating whether these sectors offer enduring opportunities or speculative plays in a changing 2026 environment.

• Which emerging sectors have moved from niche to mainstream?
• How critical are GP/OP relationships in unlocking new opportunities?
• How does portfolio diversification influence allocation to alternative sectors?
• Which risks are underestimated when investing in these asset classes?
• What capital structures are best suited for early-stage versus mature niche assets?
• How do LP expectations shape strategy and risk appetite?

Ongoing and new tariffs continue to reshape supply chains, construction costs, and industrial demand. Real estate investors must evaluate how trade policies influence development budgets, material sourcing, and tenant operations. Understanding the ripple effects of tariffs is critical for capital allocation, underwriting, and long-term portfolio resilience in 2026.

• How are tariffs affecting construction costs and development timelines across property types?
• Which asset classes are most exposed to supply chain disruptions driven by trade policy?
• Are industrial and logistics properties benefiting or suffering from trade-related reshoring trends?
• How are investors adjusting underwriting assumptions to account for tariff-driven cost volatility?
• What strategies are managers using to mitigate tariff risks in long-term leases or acquisitions?
• How are global trade uncertainties influencing capital allocation and investment timing decisions?
• Are certain regional markets more insulated from trade impacts, and why?

Shifts in U.S. public policy—from housing shortages and labor dynamics to foreign ownership limits—are reshaping investment opportunities and operational strategies. Understanding how regulations, union activity, and geopolitical considerations impact valuations, development, and long-term returns is essential for fund managers seeking to anticipate risk and capitalize on policy-driven market trends.

• How are housing shortages influencing multifamily and single-family investment strategies?
• What role are unions playing in logistics, industrial, and construction sectors, and how does this affect project economics?
• How are limits on foreign ownership, particularly Chinese investment in farmland and infrastructure, impacting deal flow and valuations?
• Which state and local policies are creating new opportunities or headwinds for investors?
• How can funds structure investments to mitigate regulatory and political risk?
• Are there emerging incentives, subsidies, or tax programs that can enhance returns?
• How are investors integrating public policy analysis into underwriting and portfolio strategy?