Commercial Real Estate and REITs: A focus on the facts

High-profile disappointments in the office sector and the failure of regional banks have driven investor concerns to the U.S. commercial real estate market and REITs. In this context, we believe REITs are misunderstood and offer a significant opportunity for investors.  In this piece, we address distress in the office sector, the impact of the banking crisis on REIT credit, and disparate valuations between private and listed real estate.  In the quarters ahead, while office rents may fall and private cap rates may rise, we see listed real estate as poised to perform for investors.