MSCI Real Assets Newsletter
Is the worst of the pain over? David Green-Morgan asks in a recent article. The end of the low interest rate environment was always going to hurt for commercial real estate, but there seem to be more headwinds than tailwinds as geopolitical events and uncertainty continue to weigh heavily on investor sentiment.
Don’t miss our new quarterly In Focus Podcast with Jim Costello and others for more. Jim notes that we are seeing much less geographic concentration in post-pandemic capitalism than we have in 40 years. Institutional investors are looking beyond Manhattan and Central London.
MSCI Real Capital Analytics expands coverage with new module
The new Registered Properties dataset gives?access to a wider investable universe of commercial real estate, including niche property types, untraded and off-market assets. The added coverage powers clients to uncover new opportunities, gain a deeper understanding of the market, and make better data-driven decisions.
Get Out Ahead of Rising Rates and Volatility: In Focus Roundtable
A wide expectation gap between buyers and sellers persists. Investors are moving away from office as the central building block of their portfolios. Some investors are looking for opportunity in debt-driven financial distress as loans come due. Jim Costello and colleagues discuss the 4Q outlook in MSCI’s In Focus Roundtable.
Small Banks Falter in U.S. Commercial-Property Lending
Smaller banks posted a record fall in their share of CRE mortgage originations in Q2'23 as the high-profile failure of several banks cast a cloud on lending activity. We show the retreat in both market share and in mortgage originations.
Office Property: The Rise of the Smaller Floorplate
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Since the pandemic, the share of office deals with smaller floorplates increased markedly while the office sector underperformed all other sectors in terms of valuations, vacancy and deal volume. We examine the patterns of investment.
Scenarios in Focus: Higher Rates for Longer
In our soft-landing scenario, U.S. and global property indexes remain positive in 2024 despite expectations of elevated rates across regions until the middle of next year. See details of all four scenarios here:
RCA Commercial Property Price Indexes (RCA CPPI)
The U.S. apartment market fell 12.8% in September, continuing to lead declines in U.S. commercial property prices across sectors. See the latest RCA CPPI results for 10 U.S. national indexes including the office, industrial, retail and apartment sectors.
Style Factors for Private Real Estate — Beyond Property Type and Location
Six factors show promise for explaining real estate performance. MSCI’s framework aims to help investors manage their portfolios more systematically as featured in the Journal of Portfolio Management.