The PERE Podcast

MF1, a joint venture between Berkshire Residential Investments and Limekiln Real Estate, closed its third CLO this year and 21st overall securitization as of May 31, 2025. The transaction comes as CRE CLO issuance is rebounding. The first half of 2025 saw almost five times the issuance rate as the same period of 2024, according to data from the CRE Finance Council, a New York-based trade group.

In this episode, PERE Credit e...

On its face, PERE’s just-released first-half fundraising report brings welcome news to the private real estate sector, revealing that capital commitments to the asset class jumped 16 percent from H1 2024. After a multi-year slowdown, is fundraising ramping up again? Or is there more to the story?

In this episode, join host Greg Dool, PERE editor Evelyn Lee and PERE Asia-Pacific reporter Christie Ou as we dive into the results – inc...

Madison Realty Capital, one of the first real estate private credit funds, has been originating a series of loans that are changing city skylines.

The most recent of these were in New York. In mid-May, the company funded a $720 million loan to finance the conversion of the former Pfizer headquarters into a 1,600-unit apartment complex. And earlier this month, a joint venture between Madison Realty and a Kushner Companies joint vent...

Real estate is a people business, and this month, PERE is highlighting those that have made their mark on the asset class. On this episode, we take a deep dive into PERE’s second-ever Most Influential list, ranking the individuals who've made the biggest impact on private real estate over the 10-year period since we last compiled such a list in 2015.

Numerous forces have reshaped the industry during the intervening decade – a globa...

Is “defense” the next major theme in private real estate? Are sector-based investment strategies outdated in the current market cycle? How can allocators and their asset managers act with conviction in an era of deglobalization, trade tension, inflation, recession risks and interest rate volatility?

In this episode, PEI real estate editor-in-chief Jonathan Brasse speaks with François Trausch, chief executive and CIO of PIMCO Prime ...

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 Jo...

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 esta...

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 de...

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...

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 activit...

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 ...

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 an...

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...

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 Estat...

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 ...

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 strate...

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...

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’Sou...

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...