Investors are still waiting for a recovery in commercial real estate. We outline the state of play in early 2024 and identify potential signposts for an upturn in the asset class.  

A rapid rise in interest rates globally rocked the commercial-property market in 2023. We chart the impact on pricing and transaction activity, and discuss what could aid a revival in dealmaking.

The increased use of subscription lines of credit by general partners in some private-capital funds has lifted returns by squeezing the timeframe over which returns are calculated. We examine buyout, private-credit and real-estate funds to see where the greatest inflation lay.  

COP28 concluded with an agreement for countries to transition away from fossil fuels, marking a historic pivot away from the primary sources of energy that have powered society for nearly 200 years. How can countries — and investors — address these goals? 

After the market dislocation of 2023, investors will be hoping for a calmer 2024 in commercial real estate. We identify five key influences to help investors navigate the challenges and opportunities ahead.  

Office vacancy has reached a record high for properties in central business districts. Forms of compensation to attract people back to offices could include improved mass transit and reduced travel time.  

Cities that ride booms and busts in commodity prices have in the past achieved strong outperformance in commercial-property returns during booms. Has the recent surge in commodity prices had a similar impact on returns? 

Amid the growing usage of sub lines across private capital funds, we explore how intensively funds draw on their sub lines — a critical determinant of how sub lines will affect internal rates of return.