Perceptions of the Investment Climate

WHY SOME INVESTORS ARE RAMPING UP ACTIVITY WHILE OTHERS HAVE YET TO DEPLOY CAPITAL​

Is Now The Time For CRE Investors To Reengage​

• Many investors are still waiting for clarity as others begin to reengage the market​

• Competition is heating back up for certain property types and product niches, headlined by industrial and retail​

Cautious Investors Waiting For Certainty​

• Investors still on the sidelines await positive leverage and economic clarity​

• Less risk adverse investors are focusing on property CRE  space demand drivers that will likely build momentum​

CRE Performance and Demand Often Exceed Perception​

• Property fundamentals are stronger than many perceive​

• Despite minor softening in apartment and industrial demand, the long-term outlook remains positive, with absorption beginning to build momentum​

*Employment and retail sales through February; Real disposable income through January​
Adjusted for inflation using January 2023 Core PCE​
Sources: Marcus & Millichap Research Services, BLS, Federal Reserve​

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