The PERE Podcast

The fraught macroeconomic climate and its impact on property markets has been a regular topic of The PERE Podcast as investors allocate capital in a deglobalizing world. This week the spotlight is on geopolitics, as escalation in the Middle East and rising defense budgets in Europe portend significant consequences for global property markets.

On this week’s episode, host Greg Dool sits down with PEI’s real estate editor-in-chief Jonathan Brasse, PERE Deals reporter Sarah Marx and Real Estate Capital Europe deputy editor Lucy Scott for a look at how private real estate investors and managers are adap...

In this episode, we break down the key takeaways from the PERE Network Europe Forum 2025. Some 200 market participants representing private real estate’s top institutional investors, asset managers, lenders and advisers came together at the two-day event in London last week to trade insights and strategies amid rapidly changing global property markets, and we have all the details.

Listen as host Lucy Scott sits with PEI’s real estate editor-in-chief Jonathan Brasse and Real Estate Capital Europe editor Daniel Cunningham to explore the conference’s biggest themes, including Europe’s position as a beneficiary of shifting capital flows, w...

This episode is sponsored by Bouwinvest Real Estate Investors

The Dutch residential market has remained resilient despite economic turbulence and rising interest rates and is now emerging as a prime destination for international investors.

In this episode, Paul van Stiphout of Bouwinvest Real Estate Investors and Jorrit Arissen of Van Lanschot Kempen Investment Management unpack the forces driving the market’s strength – from a deep-rooted rental culture and robust occupancy levels to increasing demand for senior and student housing.

With the Netherlands facing a housing shortfall, Van Stiphout and Arissen discuss how foreign capi...

Did you miss a rare opportunity to hear Brookfield Asset Management chief executive Bruce Flatt speak on stage at the PERE Network Europe Forum 2025 this week? Fear not.

The team behind The PERE Podcast is stepping aside from our usual format to showcase the entire unabridged conversation between Flatt and PEI’s real estate editor-in-chief, Jonathan Brasse.

In this wide-ranging interview, Flatt explains how to make money in today’s real estate environment, the primary function of unlisted property in institutional portfolios, liability matching with insurance money, and harnessing retail and private wealth investors’ growing appetit...

The latest PERE 100 and 200 rankings of private real estate’s top fundraisers, out this week, reflects a changed reality for managers in an increasingly competitive capital-formation environment.

For one thing, lengthier fundraising timelines – and ever-larger fundraising targets – contributed to an unprecedented level of year-to-year volatility throughout the list and even within the top 10. And a sustained wave of M&A activity involving managers up and down the ranking is set to continue shaking things up in the years ahead.

On this episode of The PERE Podcast, we break down the main takeaways from this year’s ranking and sha...

This week, PERE revealed that Chicago-based alternatives specialist Harrison Street held a first close for its 10th flagship US real estate fund, Harrison Street Real Estate Partners X, with $1 billion in commitments – after just one month on the road.

The fundraise comes as economic and geopolitical uncertainty threaten a potential real estate recovery. The speed of the first close, which brings Harrison Street a third of the way to its $3 billion hard-cap for HSREP X, is also notable when considering the average time most real estate funds spend in the market has stretched to 23 months, according to PE...

This episode is sponsored by LaSalle Debt Investors and Kayne Anderson

In the wake of rising rates and falling transaction volumes, US real estate debt markets are undergoing a significant transformation. Traditional lenders – especially regional banks – have stepped back, opening space for private credit providers to play a larger role.

As a looming wave of loan maturities approaches, participants are preparing for both stress and opportunity. They're deploying capital selectively, often in the form of rescue financing, while building platforms that can flex across cycles. What emerges isn’t a market in freefall or overdrive, but a...

How should investors think about private real estate portfolio construction amid today’s highly uncertain macroeconomic volatility? Brian Klinksiek, head of research and strategy at LaSalle Investment Management, has a compelling answer.

The Chicago-headquartered manager's latest research note – The Trade War, Relatively Speaking: Tariffs and Real Estate Fair Value – is the second of two papers looking at the subject of tariffs. It is a guide of key ideas for real estate investors – ideas that will hold true at a time when the future “steady state” of trade policy remains unknowable.

In this episode, Klinksiek explains LaSalle's "the...

Brookfield Asset Management is nearing a final close on its largest real estate fundraise yet. The New York-based manager’s opportunistic Strategic Real Estate Partners V fund has raised $16 billion from institutional investors, and a further $2 billion is expected to come from private wealth investors and regional sidecars in the coming months, PERE understands.

This is the biggest real estate fundraise since Blackstone Real Estate Partners X was closed in 2023, for which US manager Blackstone collected $30.4 billion in capital commitments. Brookfield's success comes as difficult times persist for fund managers. The latest PERE fundraising report revealed total ca...

After a six-month search, Norges Bank Investment Management has found its next global real estate chief: Alex Knapp, who joins after 17 years at Houston-based manager Hines, where he was chief investment officer for Europe.

Starting next month, Knapp will take the helm of NBIM’s massive $70 billion global listed and unlisted real estate portfolio, managed on behalf of Norway’s $1.7 trillion sovereign wealth fund. But his duties in leading the manager’s property business will look a bit different from those of his predecessors – including the fact that Knapp will remain based in London, rather than Oslo.

Th...

On the heels of PERE's exclusive report last week on New York-based manager StepStone Group raising the private real estate sector's largest-ever secondaries fund, we spotlight the massive capital haul and the emergence of real estate secondaries more broadly as a major fundraising theme in a time of market dislocation.

Indeed, StepStone is not the only private real estate manager eyeing big opportunities in the once-nascent strategy. Its $4.5 billion fundraise for StepStone Real Estate Partners V bested a previous record set less than a year ago by Goldman Sachs Asset Management's Vintage Real Estate Partners III. Meanwhile, Br...

As real estate investors scramble to size up the effects of tariffs on global markets, some of the earliest impacts are already emerging in the commercial mortgage-backed securities market.

US manager Pretium Partners is reportedly pumping the brakes on a $778.5 million single-family residential securitization it had planned to price on April 24, while a report this week from ratings agency Scope Ratings suggests that tariffs could threaten a significant recovery in European CMBS issuance since the start of the year.

On a new episode of The PERE Podcast, Lucy Scott is joined by Daniel Cunningham and S...

A long-awaited recovery in private real estate fundraising finally arrived in the first three months of 2025, with PERE’s latest report showing a year-on-year increase in capital allocations to the asset class for the first time since 2022.

Now, as an oncoming trade war and inflationary pressure cloud the industry’s outlook, the question becomes: Will the recovery last?

In this episode, PERE editors Jonathan Brasse, Charlotte D’Souza, Greg Dool and Evelyn Lee explore the biggest takeaways from PERE’s fundraising report – including the close of Blackstone’s largest-ever European vehicle – and break down the biggest factor...

Property investors gained some relief on Wednesday when US president Donald Trump announced a 90-day pause on his administration’s sweeping “Liberation Day” tariff hikes, but the outlook for global real estate markets remains anything but certain.

As the prospect of a US-China trade war looms, private real estate managers and investors have been forced to reassess short-term business while adapting their longer-term strategies to a changing risk environment. But in times of volatility, there are also opportunities.

On this episode, Greg Dool sits down with Jonathan Brasse, Evelyn Lee and Samantha Rowan to break down h...

Retail’s real estate resurgence is in the spotlight again as a pair of massive private-equity-backed deals target neighborhood shopping centers across the US. On the heels of Blackstone’s $4 billion take-private deal involving 93 grocery-anchored strip malls, fellow investment giants Goldman Sachs Asset Management and Ares Management are getting in on the action as well.

As PERE reported last week, Goldman and Ares provided equity backing for Atlanta-based RCG Ventures’ $1.8 billion acquisition of a 100-asset shopping center portfolio from listed real estate investment trust Global Net Lease.

Taken together, the two deals represent the transfer of nea...

Against a backdrop of existential challenges to the decarbonization agenda in both the US and Europe, the 10th episode of The PERE Podcast examines whether the real estate industry is, as a consequence, shying away from its sustainability commitments.

Listen as Lucy Scott, deputy editor of Real Estate Capital Europe; Randy Plavajka, deputy editor of PERE Credit; and Guelda Voien, editor of PERE Deals, break down how market forces are working to overcome an era of ESG backlash.

In conjunction with PERE Credit's in-depth look this week at the latest issuance data for C-PACE – a form o...

Achieving fundraising targets and substantially growing capital commitments from one vehicle to the next have become rare feats for private real estate managers, especially those lacking lengthy track records to fall back on. So when an emerging manager not only outraises its initial target by over 40 percent, but also quadruples the size of its predecessor vehicle, it is well worth a closer look.

The latest episode of The PERE Podcast does just that, shining a light on PERE's exclusive report about Connecticut-based manager Jadian Capital lining up over $2 billion for its second opportunistic real estate fund – as PERE...

The annual MIPIM conference in Cannes is an important barometer of sentiment for the global real estate market. This year, seven of PERE’s journalists held a combined 100 meetings with leading managers in the real estate industry, spanning both the equity and debt markets.

This access to a wide concentration of viewpoints provided the team with insight into how industry stakeholders are really thinking about capital raising and debt availability, as well as their strategies for survival in a climate of continued political and economic volatility.

So, what did this year’s MIPIM tell us abou...

American private equity has been storming into the UK-listed property sector this month with a series of takeover bids.

On Monday, KKR and New York-based Stonepeak intensified their pursuit of London-listed healthcare real estate investment trust Assura, with the two managers advancing a £1.6 billion ($2.1 billion; €1.9 billion) cash offer.

Meanwhile, Blackstone and Sixth Street sweetened their offer for London-based Warehouse REIT with a £470 million bid that was again rebuffed by the industrial investor. And on Tuesday, US-listed nursing home investor CareTrust REIT struck an $817 million agreement to acquire UK-listed Care REIT.

What do these three de...

On the heels of Real Estate Capital’s deep-dive analysis of the emergence of back leverage in European property markets, a new episode of The PERE Podcast looks at how this form of finance will reshape the way real estate debt funds provide loans on the continent.

A common feature of the US market for some years, the increasing use of back leverage by banks and alternative lenders in Europe is not merely a trend, “but a structural shift in how commercial real estate debt is conceived and executed,” according Jessica Qureshi, an associate at Knight Frank Capita...

Apollo Global Management’s agreement to acquire Utah-based Bridge Investment Group, announced earlier this week, is set to create a $110 billion combined real estate platform, growing Apollo’s AUM in the sector by 40 percent. This is a step change for the manager, helping it to scale its equity business – which focusses on residential and logistics – to its existing and sizeable credit business. The firm now has a suite of real estate capital solutions – but in today’s real estate equity and credit markets, why is this important?

In this episode, Greg Dool, PERE’s America’s editor; Sam Rowan, edito...

Investment manager Barings’ agreement to acquire value-add specialist Artemis Real Estate Partners creates a combined $60 billion real estate behemoth that is well-suited to reap the benefits of a US market recovery. It also represents a major endorsement of Artemis, one of the sector’s largest women-founded firms, led by industry trailblazer and co-CEO Deborah Harmon.

On this episode, PEI Group real estate editor-in-chief Jonathan Brasse and PERE EMEA editor Charlotte D’Souza break down the deal, how Barings and Artemis fit together and what it all means for private real estate’s road ahead.

New York offices are having a moment. As the ink dries on a pair of billion-dollar refinancing deals at 3 Bryant Park and the MetLife Building, the city's office sector may soon receive its most momentous vote of confidence yet, with bellwether investor Blackstone reportedly in talks to acquire a major stake in the 50-story tower at 1345 Sixth Avenue.

All of this leads to a central question: Is this once-eulogized market finally getting its groove back? Listen in as PEI Group real estate editor-in-chief Jonathan Brasse chats with PERE Credit editor Samantha Rowan and PERE Deals editor Guelda...

A number of new or emerging managers are attempting to grab market share as the next private real estate capital market cycle takes form.

In this episode, PERE editor Evelyn Lee and Jonathan Brasse, editor-in-chief of the real estate for PEI Group, discuss firms on the fast track to industry prominence, and what their challenges tell us about the sorts of organizations jostling for position in the years ahead.

The discussion is a meditation on PERE’s latest cover story, titled Next Contenders 2025: Asset managers ramping up in real estate.

The episode als...

New York-based private equity giant KKR has reorganized its real estate and infrastructure businesses under a unified real assets platform with a combined $137 billion of assets under management.

In this inaugural episode of The PERE Podcast, editor-in-chief of real estate for PEI Group Jonathan Brasse, PERE editor Evelyn Lee and PEI Group’s infrastructure editor-in-chief Bruno Alves dig into the details of the new business and reflect on the context of the DeepSeek AI revelations and their impacts on digital real assets.

To subscribe to the podcast, search for The PERE Podcast on your podcast plat...

The PERE podcast is a weekly discussion between members of our senior editorial team providing you with analysis-led commentary about the biggest events in private real estate capital markets around the world. Our discussion spans formation, strategy and deployment and draws from the ongoing coverage of PERE, PERE Credit and PERE Deals.

Listen at www.perenews.com/podcast or subscribe wherever you like to listen.