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According to UBS' 2026 Global Family Office Report, Latin American family offices allocated 34% of assets to alternatives in 2025. Within that figure, 16% went to private equity, 7% through direct investments, 9% through funds, and 2% to private debt.
UBS' 2026 Global Family Office Report found that 61% of Latin American family offices surveyed expect to make changes to their strategic asset allocation in 2026.
According to UBS' 2026 Global Family Office Report, 23% of Latin American family office portfolios were allocated within Latin America itself, while 60% remained invested in North America.
According to Alessio Mazzanti, Managing Director, family offices can participate through minority or majority equity, direct investments, co-investments, private debt, preferred equity, or hybrid structures, depending on their investment strategy.
According to Alessio Mazzanti, family offices have been professionalizing their governance, investment committees, risk management, reporting, and due diligence processes. UBS' latest global survey shows that a significant majority of family offices already use formal mechanisms for measuring investment performance, while many operate through structured investment committees.
LPL Financial's board of directors fired Arnold in October 2024 for violating the company's respectful workplace policies. A board-approved investigation by an outside law firm found Arnold had made statements to employees that violated LPL's Code of Conduct. Arnold resigned from the board, and Rich Steinmeier, Managing Director and Chief Growth Officer, became CEO.
Stirling One is Stirlingshire Investments' artificial intelligence-native operating platform for wealth management. The platform provides onboarding, portfolio management, trading, rebalancing, tax optimization, compliance, reporting, CRM, communications and AI-powered tools. Stirlingshire plans to launch Stirling One at the Future Proof Festival next week.
Arnold has joined Stirlingshire Investments as executive chairman of the board and will work with the company's executive leadership team on strategic oversight. According to Stirlingshire, Arnold will use his experience to help with advisor recruitment, operations, strategic partnerships and scaling the firm.
Arnold joined LPL in 2007 after spending 12 years leading UVEST, a broker/dealer acquired by LPL. He was named CEO of LPL in 2016 when then-Chairman and CEO Mark Casady announced his retirement. Under Arnold's tenure, LPL's total return to shareholders was 537%.
Stirlingshire claims to have a different model from traditional wealth management firms. Advisors who join get free access to the Stirling One platform and keep 100% of their payout. The firm has both registered investment advisor and broker/dealer entities and uses Apex Fintech Solutions for custody.
According to Realberry's editorial, family offices typically choose among three main approaches when deploying capital into property: buy, build, or lend. Development is most often executed via direct partnerships with sponsors, structured as bespoke joint ventures and club deals that offer higher control and tailored risk-return profiles.
Realberry's editorial explains that REITs rarely pursue ground-up projects and private equity funds cap development exposure, leading many family offices to prefer bespoke joint ventures and club deals. These direct partnership structures offer higher control and tailored risk-return profiles compared to pooled vehicles.
According to Realberry, family offices tend to underwrite opportunities based on equity multiple and cash-on-cash yield rather than internal rate of return. Realberry attributes this preference to longer holding periods and a strong preference for current income among family office investors.
Realberry's editorial notes that governance, tax planning, and intergenerational objectives all shape family office decisions when choosing among acquiring stabilized assets, funding developments, or providing credit to real estate operators.
Yes. According to Realberry's editorial, lending is one of the three main approaches family offices use when deploying capital into property, alongside buying and building. The editorial also notes that family offices may provide credit directly to real estate operators as part of their strategy.
According to Knight Frank's Wealth Report 2025, which surveyed 150 family offices, 44% said they plan to increase their exposure to real estate over the next 18 months.
Hospitality has become the top real estate asset class for family office capital in Asia-Pacific, according to a Questex press release issued on September 11, 2026.
IHIF Asia will take place September 16–18, 2026, at Regent, Hong Kong. The event is expected to bring together more than 500 investors, owners, operators, developers, and hospitality brands to explore the region's next phase of growth.
A session titled 'Inside Family Office Capital: Decision Frameworks and Deal Strategy' will be presented by Richard Zen, Founder and Managing Partner of Trivium Asset Management, and moderated by Candice Wu, Co-Founder of Tigris Family Office.
IHIF Asia is hosting a dedicated networking session on September 17, 2026, the second day of the event, to unite attending family offices and family office-owned property leaders in a lounge setting, according to the Questex press release.
Starlight Investments raised £680 million for its second UK build-to-rent fund. Starlight said the capital, when supplemented with debt, would allow it to build approximately 6,000 build-to-rent homes in the UK. Starlight Head of UK Residential Jonnie Milich said this would place the firm in the top four UK BTR operators.
The UK Government's National Housing Bank is a cornerstone investor in Starlight UK BTR Fund II, contributing £100 million of equity.
Annual UK build-to-rent starts fell 79% to 3,455 homes in the 12 months to June 2026, according to data from RE:UK and Savills. Starlight described the decline as driven by a combination of rising costs and falling asset values.
A combined £500 million of equity and debt from Starlight UK BTR Fund II has been deployed on three developments. These include a 60-storey, 532-unit tower in Manchester's Castlefield conservation area, a 40-storey, 517-unit tower in Manchester's Greengate neighbourhood, and a 492-unit, three-block mid-rise in Basildon, Essex near the main train station.
Starlight Investments is a private company based in Toronto with 30 billion Canadian dollars (£26 billion) of assets under management, comprising 70,000 residential units and 7 million square feet of commercial space. Starlight's existing UK portfolio comprises 4,000 build-to-rent units with an end value of £1.1 billion.
The Securities Commission Malaysia granted the exemption because there was no change to the ultimate shareholders or the proportion of shareholding. The restructuring involved transferring individual family members' stakes into family vehicles under Success Lineage Sdn Bhd, not an acquisition of new shares. The regulator cited subparagraph 4.13(3)(a) of the Rules on Take-overs, Mergers and Compulsory Acquisitions.
Success Lineage Sdn Bhd, the Ku family office, holds an indirect interest of 689.69 million KSL Holdings shares, representing a 64.24% stake as of September 3, 2026, through its controlling interests in three intermediate vehicles: Premiere Sector Sdn Bhd, Noble Heritage Sdn Bhd and Gorgeous Horizon Sdn Bhd.
No. According to the bourse filing, the transfer related only to individual family members' shareholdings in Premiere Sector Sdn Bhd, Noble Heritage Sdn Bhd and Gorgeous Horizon Sdn Bhd, and did not involve any transfer of the ordinary shares in KSL Holdings held by those three vehicles.
KSL Holdings Bhd is a Johor-based property developer founded by Ku brothers Cheng Hai, Hwa Seng and Tien Sek. At the time of the filing, KSL shares closed at RM2.80, valuing the company at RM3.06 billion.
The family members who transferred their stakes to the family vehicles in 2025 were Ku Cheng Hai, Ku Hwa Seng, Ku Tien Sek, Ku Wa Chong, Khoo Keng Ghiap, Khoo Lee Feng, Ku Ek Mei and Ku Keng Yaw, according to the bourse filing.
LDR Capital, the real estate investment arm of the Lederer Group, purchased Southpoint Commercial from Union Investment Real Estate GmbH for approximately A$255 million. The deal was announced on September 3, 2026, and the price was reported above the asset's most recent expert valuation.
Yes. The A$255 million sale price for Southpoint Commercial was reportedly above the asset's most recent expert valuation, according to the deal announcement, underscoring strong investor demand for prime Australian office and retail property.
Southpoint Commercial is a fully leased mixed-use office and retail building located in Brisbane's South Bank precinct. It is part of a larger precinct that combines offices, retail, and transport connectivity, according to the deal announcement.
LDR Capital is the real estate investment arm of the Lederer Group, which is described as one of Australia's largest family offices. The acquisition of Southpoint Commercial reflects the Lederer Group's continued deployment of family office capital into core commercial real estate assets in major Australian cities.
The source text does not state Union Investment Real Estate GmbH's reasons for selling Southpoint Commercial. The deal closed at approximately A$255 million, reportedly above the asset's most recent expert valuation, on September 3, 2026.
Stuart Mercier, 44, spent 13 years at Brookfield Asset Management, building the firm's Asia real estate business from founding head into a 350-person platform that oversaw roughly $15 billion of investment activity. He retired last year as a managing partner at Brookfield and now runs Cairdrow Capital, a Singapore advisory firm he co-founded for family offices and institutions.
Shui On Land appointed Stuart Mercier as an independent non-executive director and a member of its audit and risk committee, effective 3 August, according to a filing with the Hong Kong stock exchange.
Yes. Brookfield made an investment in Shui On Land's Xintiandi unit in 2013, according to Mingtiandi. Mercier oversaw Brookfield's Asia real estate platform during his 13-year tenure at the firm.
Templewater appointed Laurent Fischler as managing director and head of real estate in Singapore. Aquilius Investment Partners hired Alexander Hoffmann as managing director, investments, in Singapore. HIG Capital hired Younghee Choi as head of Asia for its capital formation group, based in Hong Kong. Raffles Family Office named Ken Peng as its first chief investment officer, based in Hong Kong.
According to UBS, 60% of surveyed family offices plan to change their strategic asset allocation over the next twelve months. The UBS survey covered more than 300 family offices across more than 30 markets, with average family net worth of $2.7 billion.
FINTRX data on 96 offices added to its database in Q2 2026 shows 92.7% stated interest in direct investments and 89.6% in private equity. By contrast, only 6.3% reported interest in private credit and 10.4% in hedge funds, suggesting newly tracked offices strongly favor direct ownership over fund structures.
Deloitte estimated 8,030 single-family offices globally in 2024, up from 6,130 in 2019, and projected 10,720 by 2030. Deloitte also estimated family-office assets under management at $3.1 trillion in 2024, rising to $5.4 trillion by 2030.
According to the source, family-linked transactions are concentrating on the infrastructure beneath AI applications, including energy-efficient chips, compute capacity, robotics, energy and financial controls. UBS also reports that 65% of surveyed respondents rank AI among the leading themes for capital allocation.
Straits Trading's strategy, described by executive chairman Chew Gek Khim as 'Blackstone-like,' is to buy real estate, convert it into REITs, and then exit. The funds will operate on an eight-to-ten-year time frame and are being created through a joint venture with ARA Asset Management CEO John Lim, with up to $950 million in capital committed.
The joint venture is still deciding on property locations. Other than Singapore, the funds may seek investments in Europe, Malaysia, and Australia, according to Chew Gek Khim.
Straits Trading will pay $294.4 million in cash and shares for a 20.1% stake in ARA Asset Management, acquired from Li Ka-shing's Cheung Kong Investment Co. and ARA CEO John Lim. This transaction will make Straits Trading the biggest shareholder of ARA.
According to CBRE Research, commercial real estate transactions in the Asia-Pacific region rose 11% to US$21.6 billion in the most recent quarter, while cross-border property transactions climbed 5.5% to US$5.2 billion in the third quarter.
Straits Trading had cash proceeds of $508.8 million after accepting United Engineers Ltd.'s higher offer for its 44.58% stake in WBL Corp., giving Straits Trading more access to capital for its property funds. Straits Trading also has real estate assets worth $830 million, according to Chew Gek Khim.
Saudi Arabia's Public Investment Fund said it has launched a real estate company to develop a tourism and residential destination on the Al-Khafji coastline. According to Reuters, the project will cover about 20 square kilometres and include a 10-kilometre waterfront, more than 16,000 housing units, hotels, and commercial facilities.
Saudi Arabia's Public Investment Fund said the Al-Khafji development will be built in partnership with private-sector firms. The source does not name specific private-sector partners.
According to Reuters, the Public Investment Fund's Al-Khafji project will cover about 20 square kilometres and feature a 10-kilometre waterfront. The development will include more than 16,000 housing units alongside hotels and commercial facilities.
Reuters reports the Al-Khafji project will include more than 16,000 housing units, hotels, and commercial facilities, situated along a 10-kilometre waterfront within a roughly 20-square-kilometre site.
CoStar reports that the buyer is WillsFlower, an investment vehicle of an unnamed ultra-high-net-worth private investor. WillsFlower is understood to have purchased the 367,000-square-foot campus below its prior guide price. CapitaLand had originally acquired the asset in 2020 for £129.25 million.
CapitaLand acquired Arlington Business Park in 2020 for £129.25 million. The estate comprises 11 office buildings totalling 367,000 square feet in Theale near Reading.
WillsFlower is an investment vehicle of an unnamed ultra-high-net-worth private investor, not an institutional fund or listed REIT, according to the deal report. The acquisition marks a direct deployment of UHNW capital into a large-scale business park.
WillsFlower is understood to have purchased Arlington Business Park below its prior guide price, according to CoStar. The exact sale price was not disclosed in the source.
Pharr, a family-owned company based in McAdenville, North Carolina, bought 702 Oberlin. Pharr acquired the 58,625-square-foot, four-story boutique office building in Raleigh's Village District for $24.225 million from Beacon Partners, a Carolinas-based commercial real estate firm.
702 Oberlin, a 58,625-square-foot boutique office building in Raleigh, North Carolina's Village District, sold for $24.225 million. JLL Capital Markets completed the sale, with Pharr as the buyer and Beacon Partners as the seller.
Beacon Partners, a Carolinas-based commercial real estate firm, was the seller of 702 Oberlin. Beacon Partners sold the 58,625-square-foot, four-story boutique office building in Raleigh's Village District to Pharr for $24.225 million.
Pharr is described as a family-owned operating company based in McAdenville, North Carolina, rather than an institutional fund. The acquisition of 702 Oberlin represents Pharr deploying family capital into direct office ownership, allowing the family enterprise to expand its real estate holdings.
JLL Capital Markets handled the $24.225 million sale of 702 Oberlin, a 58,625-square-foot boutique office building in Raleigh, North Carolina's Village District. The transaction transferred ownership from Beacon Partners to Pharr, a family-owned company based in McAdenville, North Carolina.
UBS recruited three advisory teams managing a combined $2.6 billion in client assets from Merrill Lynch and Morgan Stanley. The individual teams brought approximately $500 million from Merrill Lynch in Bellevue, Washington; $1.4 billion from Morgan Stanley in Pueblo, Colorado; and $750 million from Morgan Stanley in Bethesda, Maryland.
According to Wolfe Research's most recent advisor moves data, UBS had a net loss of 196 advisors in North America in 2026 through August 13. Wolfe Research tracks advisor moves via SEC filings. UBS ranked sixth among firms with net advisor losses during that period.
Caitlin Alcon, Calvin Mason and Craig Cisney joined UBS's Mountain West Market from Morgan Stanley in Pueblo, Colorado, where they had overseen $1.4 billion in client assets. Mason brings almost 35 years of industry experience, Alcon has more than 25 years including time at Morgan Stanley, RBC and Piper Jaffray, and Cisney previously worked for 17 years as a broadcast meteorologist in Colorado.
Richard Horn, Jeffrey Deckelbaum and Gerald Horn joined UBS's South Atlantic Market in Bethesda, Maryland from Morgan Stanley. Richard Horn spent almost all of his 40-year financial services career at Morgan Stanley. Deckelbaum started his financial career at Morgan Stanley in 2006. Gerald Horn is a third-generation financial advisor who joined Morgan Stanley in 2018.
UBS's Americas wealth business posted net inflows of $1 billion in the second quarter, even after $10 billion in outflows related to the U.S. tax season, according to the article. UBS's wealth management division beat analyst estimates in the second quarter.
Washington State's Department of Financial Institutions proposed amendments to its investment advisor rules that would mandate state-registered investment advisors carry at least $1 million in errors-and-omissions insurance. The proposed amendments would also adopt the SEC's Marketing Rule, a continuing education requirement for state-registered advisors, and update the definition of 'qualified client' to mirror federal definitions.
Oregon and Oklahoma are currently the only two states requiring RIAs to carry at least $1 million in errors-and-omissions insurance, according to the article. If Washington's proposed rule is adopted, it would become the third state to impose such a mandate.
Joseph Wojcieschowski of Stoltman Law Offices and incoming president of the Public Investors Advocate Bar Association said the rule could help reduce unpaid arbitration awards, which he argued 'continue to plague the financial services industry and harm investors in every state.' PIABA has long tracked rates of unpaid awards, arguing investors too often do not receive money from favorable arbitration decisions.
According to the article, Schwab and Fidelity have instilled rules requiring RIAs using their custodial services to carry some insurance, including E&O coverage. However, a 2025 University of Michigan Business and Entrepreneurial Law Review article noted that such private insurance requirements 'have not yet proliferated and changed broader industry practices,' with the majority of custodial platforms lacking similar mandates.
NASAA questioned in 2021 whether E&O insurance could adequately protect clients, citing that it may be too expensive for smaller firms and often excludes high-risk alternative products and instances of fraud from coverage. The concerns were raised in the context of NASAA's model rules, which mirror some of the potential changes proposed in Washington State.
BNF Capital, the London-based family office of the Perrodo family, is the lead investor purchasing 27 Savile Row. BNF Capital is executing the acquisition in partnership with Morgan Real Estate, according to Bloomberg. The Perrodo family are billionaire heirs behind one of Europe's largest independent oil companies.
CPI Property Group SA, a Czech landlord, is selling 27 Savile Row as part of an effort to reduce debt, according to Bloomberg. The deal fits a broader pattern of wealthy families targeting prime London assets during a period of market dislocation, Bloomberg reports.
Final pricing details for the 27 Savile Row transaction have not been disclosed, according to Bloomberg. People familiar with the matter told Bloomberg that terms have been agreed, indicating the deal is in advanced stages, but no specific price has been reported.
BNF Capital is the London-based family office of the Perrodo family, who are billionaire heirs behind one of Europe's largest independent oil companies, according to Bloomberg. BNF Capital is identified as the lead investor in the acquisition of 27 Savile Row in partnership with Morgan Real Estate.
Bloomberg reports that the Perrodo family's near-acquisition of 27 Savile Row underscores ultra-high-net-worth family offices' continued appetite for trophy commercial real estate in global gateway cities, even as institutional buyers remain more cautious. The deal fits a broader pattern of wealthy families targeting prime London assets during a period of market dislocation.
Bank OZK provided a $75.5 million construction loan for the M7 Lofts development in Norwalk, Connecticut. The borrower is a joint venture between Saber-Hightower and Granoff Real Estate. An undisclosed family office also contributed $32 million in JV equity. Greystone Capital Advisors negotiated the transaction.
M7 Lofts is a 286-unit apartment project converting two eight-story office buildings at 101 and 201 Merritt 7 in Norwalk, Connecticut. The buildings are part of the six-building Merritt 7 Corporate Park, located 10 miles northeast of Downtown Stamford and less than a five-minute walk from the Merritt 7 Metro-North train station.
According to Commercial Observer, the two office buildings will be combined into one apartment complex with amenities that include a fitness center, coworking space and an outdoor pool deck.
Marty Berger, managing principal of Saber-Hightower, said in a statement that the buildings are well-located and can serve Fairfield County far better as housing than as office, and that the property's proximity to transit and existing infrastructure at Merritt 7 support creating a differentiated residential experience.
Greystone Capital Advisors negotiated the transaction. Drew Fletcher, president of Greystone Capital Advisors, led a team that also included Paul Fried, Bryan Grover and Jesse Kopecky, according to Commercial Observer.
Manga Hotels, a closely held hospitality platform backed by an ultra-high-net-worth family, acquired the Chelsea hotel in Manhattan for approximately $50 million, according to a roundup of top New York City deals.
Manga Hotels focuses on branded hospitality assets in major city locations, including urban, limited-service hotels. The platform deploys family capital into North American hotel assets and is described as functioning as a family office-style investor.
The Chelsea acquisition was noted as one of the largest hospitality trades over the period surveyed, underscoring the scale at which Manga Hotels' UHNW-backed private family capital is competing directly with institutional buyers in core urban Manhattan submarkets.
Manga Hotels is executing a strategy to accumulate hotel properties during a period of continued recovery in New York's lodging market, targeting urban, limited-service hotels and branded hospitality assets in major city locations, according to the deal roundup.
Industrial Realty Group paid $21 million, or $49.76 per square foot, for the former Sportsman's Guide headquarters and distribution facility in South St. Paul, Minnesota, according to Commercial Real Estate Direct.
The property was the former Sportsman's Guide headquarters and distribution facility in South St. Paul, Minnesota, according to Commercial Real Estate Direct.
Commercial Real Estate Direct reported the Industrial Realty Group acquisition on August 31, 2026. The source does not state a specific closing date.
The distribution facility is located in South St. Paul, Minnesota, according to Commercial Real Estate Direct.
Cirrus Real Estate Partners provided a $118.6 million, three-year, floating-rate, interest-only construction loan to Gatsby Florida for The Palm in Palm Beach Gardens, Florida. Berkadia's Charles Foschini, Scott Wadler, and Shannon Wilson brokered the debt. Construction is scheduled to begin in August 2026 and be complete in 2028.
The Palm has no tenants signed as of the loan announcement. Gatsby Florida is building the approximately 200,000-square-foot Class A complex on a speculative basis, betting on office demand migrating north from West Palm Beach as high-profile companies open outposts in Palm Beach County.
Charles Foschini of Berkadia said that as financial services firms, family offices, and other sophisticated businesses continue expanding into Palm Beach County, demand is extending beyond Downtown West Palm Beach into nearby submarkets. Foschini also noted that new institutional-quality office development remains extremely limited in the area.
Gatsby Florida, launched by Nader Shalom and Babak Ebrahimzadeh in 2019, bought the 15-story 800 Brickell tower for $125.5 million that same year and purchased the Di Vosta Towers in Palm Beach Gardens for $80 million in 2020. In June 2026, Cirrus Real Estate Partners provided a $100.4 million loan to refinance the 220,000-square-foot Di Vosta Towers property.
The SEC's proposed rule would amend the Investment Advisers Act of 1940 and the Investment Company Act of 1940, modernizing the performance fee framework and allowing retail exposure to private markets through registered funds, according to the SEC's rulemaking notice. Further details were not included in the notice.
Investment advisers are currently limited to charging performance fees to so-called qualified clients, according to Thoreau Bartmann, partner at K&L Gates and former attorney in the SEC's investment management division. The SEC's proposed rule would allow performance fees to be charged to a wider set of clients.
Once the White House Office of Management and Budget completes its review of the SEC measure, the current three-member commission is expected to release a proposal for public comment. The SEC will then incorporate that input into a final version of the rule, which must be voted on by the commission again, according to the article.
Investments offered privately provide fewer disclosures than those in public markets, which can make them harder to value and exposes investors to more risks, according to groups like Better Markets, as cited in the article.
SEC Chairman Paul Atkins has repeatedly bristled against such restrictions, saying fast-growing companies that attract capital in private markets remain unavailable to most investors. Atkins said at an SEC event in March that broadening access to private markets is about 'freedom and fairness.'
According to Addepar's Q2 2026 data covering more than 650 family offices and close to $1.4 trillion, the average portfolio was 54% in public markets and 46% in alternatives. Within public markets, equities led at 37%, followed by cash at 9.1% and fixed income at 8.2%. Within alternatives, private companies were the largest holding at 15%, ahead of real estate at 7.5% and hedge funds at 7%.
Addepar's Q2 2026 data showed cash at 9.1% of the average portfolio against 8.2% in fixed income. According to the source, inflation stayed stubborn, the Federal Reserve held rates, and the market began pricing a high probability of a rate increase before year-end. The gap between two-year and ten-year Treasury yields narrowed to roughly 21 basis points, some 15 below its ten-year average, making the extra wait for long-duration bonds unrewarded.
According to Addepar, real estate returned 3.4% over the trailing twelve months to 31 March 2026, the weakest result among the private fund categories tracked. Over the same period, 16% of real estate funds were marked down, which Addepar noted was well above the historical average. Real estate represented 7.5% of the average family office portfolio as of 30 June 2026.
Addepar's Q2 2026 data showed the alternatives share fell by nearly 3 points over the quarter, driven by markdowns in private capital, strong public equity performance and new money moving into shares. The source notes that some of this shift is arithmetic rather than intention, since public and private holdings are repriced at very different speeds, but describes the direction as clear: portfolios are becoming more liquid.
According to Addepar, real assets led private fund returns over the trailing twelve months with a median of 9.1%, driven by demand for data centres and power grid capacity. The source described data centres and power capacity as the physical infrastructure of the technology build-out. Private credit followed at 7.6%, with the source attributing its performance to elevated rates sustaining high yields.
According to a Morgan Stanley Private Wealth Management and Campden Wealth survey of 87 ultra-high-net-worth individuals under 40, 68% expect to continue working even after they inherit significant wealth. Additionally, 81% of the wealthy next generation — irrespective of age — believe it is extremely or very important to have a successful career.
The Morgan Stanley Private Wealth Management and Campden Wealth survey found that only 11% of millennials say they are willing to undertake substantial risk for the possibility of substantial gain, compared with 33% among inheritors aged 30-40, making millennials the most risk averse among next-generation wealthy respondents.
According to the Morgan Stanley Private Wealth Management and Campden Wealth survey, 64% of respondents believe their values are highly aligned with those of their parents, 95% say they recognize what is important to their families, and only 6% said they have belief systems that differ significantly from their parents.
The Morgan Stanley Private Wealth Management and Campden Wealth survey found that 82% of next-generation wealthy want more in-person engagement with their financial advisors, 74% want to do more business via phone, and only 15% want more social media interaction. Just 5% want more communication via internet video or Skype.
According to the Morgan Stanley Private Wealth Management and Campden Wealth survey, 58% of millennials view their wealth as a vehicle to help the community, compared with 38% of older inheritors, and 63% view themselves as stewards of their wealth for future generations, compared with 46% of older siblings.
According to Altrata's Residential Real Estate 2025 report, New York leads all global cities by UHNW residential footprint, with more than 33,200 individuals worth $30 million or more owning primary or secondary homes there. Los Angeles and Hong Kong follow in second and third place, each with a footprint approaching 20,000.
Altrata's Residential Real Estate 2025 report found London is by far the most popular location outside the U.S. for ultra-wealthy second-home owners, with 59% of its top-10 UHNW city footprint composed of secondary-home owners. London is followed by Beijing, Hong Kong, Singapore, and Geneva.
Altrata's Residential Real Estate 2025 report found Monaco has the highest density of ultra-wealthy residents and second-homers in the world, with one UHNW individual for every 22 residents.
Altrata's Residential Real Estate 2025 report identified Lisbon and Abu Dhabi as emerging hotspots for UHNW residential interest, while Aspen was described as ever popular among the wealthy elite.
According to Knight Frank's Wealth Report 2026, direct real estate accounts for 22.5% of the typical family office portfolio. Additionally, 44% of family offices surveyed intend to increase that allocation over the next 18 months.
According to Knight Frank's Wealth Report 2026, HNWIs and family offices poured USD 464 billion into global commercial real estate in 2025, outpacing institutional investors who deployed USD 347 billion. This marked the fifth consecutive year private investors outpaced institutional capital.
According to Knight Frank's Wealth Report 2026, family offices target an average unleveraged return of 13.8% on real estate. The report identifies capital growth (42%), preservation (23%), and income (19%) as the priority objectives driving those return targets.
Knight Frank's Wealth Report 2026 identifies living (residential-for-rent and senior housing), logistics, and luxury residential as the sectors drawing the most demand. Commercial allocations concentrate in gateway cities including Paris, London, Tokyo, Sydney, and Hong Kong, while Dubai, Tokyo, Miami, and Mumbai posted strong gains in prime residential prices.
Knight Frank estimates roughly 10,000 family office entities now operate globally, according to the Wealth Report 2026. Knight Frank describes many of these entities as sophisticated investment platforms that recruit in-house real estate specialists and co-invest alongside private equity.
According to the SEC, the 38 entities filed false Form ADVs between 2025 and 2026 listing Colorado addresses where they had no presence, providing phone numbers that were disconnected or belonged to unrelated businesses, and claiming audits by accounting firms that do not appear in any public registry. Some then used those filings to market services on websites and to potential clients.
The SEC Enforcement Division's Cyber and Emerging Technologies Unit, led by chief Laura D'Allaird, brought the action. The complaints charge the defendants with violating Sections 204(a) and 207 of the Investment Advisers Act of 1940, according to the SEC.
The SEC worked with the FBI's Operation Level Up, which the source describes as aimed at identifying victims of rising cases of investment scams.
Court filings name firms including Summit Breeze Haven Exchange Ltd., Ironclad Trading Institute LLC, and Wingspan Advisors LLC, according to the source.
The SEC's Office of Investor Education and Assistance issued an investor alert warning that scammers are using SEC-exempt reporting adviser filings to create a false impression of legitimacy, according to the source.
According to Af Malhotra, Founder and CEO of ReN, the platform analyzes filings, disclosures and earnings call transcripts to surface inconsistencies, anomalies and changing risk signals that traditional analysis misses. Malhotra said the goal is to move investment teams from backward-looking performance data toward forward-looking risk intelligence.
Af Malhotra said domain-specialized language models may be better suited for high-stakes financial decisions. The source does not provide additional detail on the specific technical distinctions ReN draws between domain-specialized and general-purpose models.
Af Malhotra said analysts still spend enormous amounts of time gathering filings, reading disclosures, comparing earnings calls and reconciling information across disconnected systems. ReN's platform aims to automate identification of inconsistencies and anomalies across those sources that traditional, backward-looking portfolio analysis can miss.
Af Malhotra held leadership roles at global companies including Amstrad, Fujitsu and most recently Gartner, according to his biography. He holds graduate and post-graduate degrees from Goldsmiths College University of London, Kingston Business School and Harvard Business School Executive Education, and is a guest lecturer at London Business School and Queen Mary's University of London.
Af Malhotra discussed on The WealthStack Podcast how automation and agentic AI could reshape the future of investment research and advisor workflows. The source identifies this as a topic of discussion but does not provide specific forecasts or timelines beyond framing it as a forward-looking area of development for ReN.
J.P. Morgan Private Bank's 2026 Global Family Office Report found that geopolitics is the top risk ranked first globally, cited by 20% of respondents. U.S. family offices ranked interest rates first at 64%, followed by inflation and economic growth both at 61%. Internationally, 74% of family offices ranked geopolitics in their top five risks.
J.P. Morgan Private Bank's 2026 Global Family Office Report reflects perspectives from 333 family offices across 30 countries, surveyed between May 2025 and July 2025. The collective net worth represented by all respondents was $518 billion, and the reported average net worth of participants was $1.6 billion.
According to J.P. Morgan Private Bank's 2026 Global Family Office Report, 59% of surveyed single family offices are located in the United States, 16% in Latin America, 14% in Europe, Middle East and Africa, and 11% in Asia Pacific.
J.P. Morgan Private Bank's 2026 Global Family Office Report shows that within private investments, private equity accounts for 9.8%, control-oriented private investments for 6.1%, real estate for 7.4%, growth equity and venture capital for 3.3%, private credit for 2.4%, secondaries for 1.1%, and infrastructure, transportation and other real assets for 0.7%.
HWS Real Estate and Asset Management, the family office of the German Schommartz family, acquired the IntercityHotel Kiel, a three-star, 124-room property in the port city of Kiel in northern Germany, according to the HVS Europe Hotel Transactions Bulletin for the week ending 21 August 2026.
The HVS Europe Hotel Transactions Bulletin states that the acquisition fits within the Schommartz family office's broader strategy of building a diversified hotel portfolio across key German cities. The bulletin also notes that taking control of an established branded property positions the family office to benefit from stable cash flows and potential upside from operational improvements and market growth.
According to the HVS Europe Hotel Transactions Bulletin for the week ending 21 August 2026, the Schommartz family office acquisition of the IntercityHotel Kiel highlights sustained ultra-high-net-worth and family office appetite for direct hotel investments in Europe, even as institutional investors focus more on core urban and resort assets.
The HVS Europe Hotel Transactions Bulletin describes the IntercityHotel Kiel as a midscale urban hotel serving both corporate and leisure demand in the port city of Kiel.
Brennan Investment Group sold the Rowe Furniture Distribution Center in Elliston, Virginia for $32 million on August 21, 2026. The buyer was Manakin Holdings, a private Virginia family office. Cushman & Wakefield | Thalhimer's Capital Markets Group represented Brennan Investment Group in the transaction.
The Rowe Furniture Distribution Center totals 378,720 square feet and is a Class A facility located just off Interstate 81 in Elliston, Virginia. The fully air-conditioned warehouse features 29'-35' clear heights, ESFR sprinklers, a cross dock configuration with 36 total loading doors, and abundant auto and trailer parking.
Rowe Furniture has occupied the Elliston, Virginia property for more than 20 years, according to the transaction announcement. The facility serves as Rowe Furniture's sole U.S. distribution center and corporate headquarters.
Bo McKown, Senior Vice President, and Eric Robison of Cushman & Wakefield | Thalhimer's Capital Markets Group represented the seller, Brennan Investment Group. Davis Stoneburner of Thalhimer's Industrial Services Group in Roanoke provided leasing advisory services for the transaction.
Since 2012, Cushman & Wakefield | Thalhimer's Capital Markets Group has completed 473 transactions totaling over $6.7 billion and over 70 million square feet, according to the firm. In 2025, Thalhimer overall completed more than 1,880 transactions with a transactional volume of more than $2.04 billion.
The RFK campus plan calls for two multilevel garages, G1 and G2, totaling 6,000 new parking spaces. These will be in addition to the roughly 2,000 existing surface parking spaces already on site, according to submission materials from the RFK Stadium Project Management Office and the Washington Commanders.
The National Capital Planning Commission granted preliminary approval of the Commanders' stadium in April, and the Commission of Fine Arts preliminarily approved the stadium in July. Final review by the NCPC is expected in early 2027. The NCPC and CFA are now separately reviewing concept plans for the two planned parking garages.
The RFK campus redevelopment covers 180 acres and is slated to include a 70,000-seat Washington Commanders stadium, between 5,000 and 6,500 homes, and two multilevel parking garages totaling 6,000 spaces. Public space around the garages is envisioned to support arts and craft festivals, farmers markets, and outdoor concerts, according to submission materials.
A community group near the proposed G2 garage has opposed any multilevel garage near its Kingman Park neighborhood and is instead calling for a new metro station, according to the source. Members of both the NCPC and the CFA have previously expressed concerns about the garages, including whether they would obstruct views, according to the Washington Business Journal.
The Commission of Fine Arts is reviewing the garage concept plans at its Thursday meeting, with commentary and any action to be documented the following week, according to an agency spokesperson. The National Capital Planning Commission is scheduled to review the parking garage concept plans on October 1.
Vancouver commercial real estate investment volume fell 23% year-over-year to $3.5 billion in H1 2026, according to Altus Group. Capital allocation shifted toward defensive, income-oriented assets. Most major sectors recorded lower transaction volumes, with the sole exception being retail, which rose a marginal 1% to $866 million.
According to Altus Group, Vancouver office was the hardest-hit sector with a 46% year-over-year decline in transaction volume in H1 2026, followed by multi-family at down 41% and industrial at down 19%. Retail was the only sector to grow, rising 1% to $866 million.
Vancouver industrial availability stood at 5.9% in H1 2026, with four straight quarters of positive absorption, according to Altus Group. Industrial investment volume fell 19% to nearly $669 million over the same period, but Altus Group described fundamentals as staying tight despite the decline in dollar volume.
According to Altus Group, Vancouver office volume of approximately $394 million in H1 2026 was constrained more by limited high-quality supply than by weakening demand. Office availability reached 12.4%, up 10 basis points year-over-year, and has remained in the 12% to 13% range for a third consecutive year.
According to Altus Group's CRE This Week dated September 9, 2026, notable Greater Vancouver Area transactions included a retail property at 1215 56th Street, Delta sold for $18,200,000 at $650 per sq. ft., an apartment at 1025 Chilco Street, Vancouver for $10,650,000 at $355,000 per unit, and an industrial unit in Surrey for $6,350,000 at $449 per sq. ft.
The National Association of Realtors report found no single clear effect on local housing markets, with NAR Chief Economist Lawrence Yun stating the story varies significantly depending on the local market. NAR said it does not have evidence that data center clusters themselves were the drivers of higher home values, though counties with 10 or more data centers had a median home value of nearly $432,000 versus $174,500 in counties with none.
CBRE found that industrial properties within two miles of a data center command about a 7% rent premium, according to James Breeze, CBRE's head of industrial research.
NAR found residential electricity rates rose 21.4% from 2020 to 2024 in counties with 10 or more data centers, compared with 15.7% in counties without data centers. Realtors surveyed by NAR also voiced client concerns over energy costs and water use from data centers.
NAR said data centers are highly concentrated in a small number of markets, with over 90% of counties having no mapped data centers. NAR's report identified some of the largest clusters as being in Northern Virginia, Silicon Valley, central Ohio, the Phoenix area and central Washington.
NAR principal economist Nadia Evangelou said the research does not support concluding that a data center will automatically raise or lower nearby home values. NAR's survey found 25% of Realtor respondents reported a positive residential impact and 22% reported a negative impact, with roughly one third saying they were not sure. Evangelou said even half a mile of distance can make a difference.
According to NAR's 2026 Data Center Impact report, Loudoun County, Virginia, leads the nation with 213 facilities. Santa Clara County, California, ranks second with 75. Maricopa County, Arizona, and Prince William County, Virginia, each have 63 facilities. NAR researchers identified 1,474 data centers across 251 U.S. counties in total.
NAR's survey found half of respondents reported a positive impact on nearby commercial property values, with 22% saying values increased by more than 10%. Industrial properties experienced the most demand near data centers, cited by 58% of respondents, followed by land at 38%. Real estate firms make up roughly 6.4% of all businesses in counties with the highest concentration of data centers, compared with 4.9% in counties with no data centers.
NAR's data analysis found that residential electricity rates increased faster from 2020 to 2024 in counties with 10 or more data centers, rising 21.4%, compared with 15.7% in counties without data centers. However, NAR's report noted the increase did not consistently rise with the number of facilities. Energy costs were cited as the top client concern by 61% of Realtor respondents.
According to NAR's 2026 Data Center Impact report, counties with 10 or more data centers have median household incomes of about $89,000, compared with $64,000 in counties without data centers. Employment in those high-concentration counties grew about 16% from 2014 to 2024, versus 2% growth in counties without data centers. Adults in high-concentration counties hold bachelor's degrees at a rate of 41%, compared with 22% elsewhere.
Palo Alto Unified School District's Eric Holm said districts have repeatedly learned to favor demolition over renovation for buildings older than 50 years. Sacramento City Unified's Matt Juchniewicz noted that modernization does not pencil out on a per-square-foot basis when enrollment is already at 36,000 against a capacity of 57,000 and is expected to fall further.
Some Bay Area districts are converting surplus real estate to workforce housing. Jefferson Unified School District created 122 teacher housing units in Serramonte in 2022. Pacifica School District has 70 units underway after razing Oddstad Elementary School. Calistoga Joint Unified School District is creating 130 units of subsidized teacher housing in Napa County.
Nathan Herrero, principal and vice president at SVA Architects, said outdated low-slung masonry buildings are prime candidates for razing. Buildings with defining characteristics, such as a project his team encountered built with laminated timber surrounded by old-growth trees, may be worth preserving. Herrero said if a building is marginal and requires complete change of use, replacement is preferable.
Redwood City School District worked with DLR Group to design family centers at eight schools, providing food, clothing, educational workshops, and immigration guidance, funded by Measure S passed in 2022. Salinas City Elementary School District is creating community centers at nine of its schools, according to Amna Javed, director of bond projects for the district.
Lev Weisbach, Rivercrest Partners senior vice president and managing partner for the San Francisco Bay Area, said teachers are commuting long distances or leaving, creating recruitment and retention costs for districts. Weisbach said converting surplus land into teacher housing represents a 'win-win' that turns a negative into a positive for districts.
IOS investment reached $14B to $16B in 2025, an increase of 15% from the prior year, according to Matthews data. Deal activity in 2026 is projected to outpace 2025, and Max Heiden, co-founder and partner of Catalyst Investment Partners, forecasts twice as many portfolio sales this year as there were in 2025, with new records set in deal size.
Data center developers use IOS lots for construction staging and to store heavy equipment and building materials, according to the source. Data center developers make up about 20% of new demand for IOS, according to Max Heiden of Catalyst Investment Partners. Tech giants including Google and Microsoft have invested in IOS sites to advance their data center plans.
IOS vacancy stands at 3.6% nationally, versus 6.5% for industrial overall, according to CBRE's Q2 IOS report. Nationwide IOS rents hit $11.07 per SF per month in the second quarter, a 1.6% year-over-year rise, according to the same report.
The trucking industry faces a labor shortage, high diesel prices, and an industry-level recession, with some carriers canceling parking leases as the market adjusts to smaller workforces, which may soften IOS demand. Cary Goldman, founder and manager of Timber Hill Group, said his firm is seeing very modest contractions in its lots but characterized this as showing the resilience of the business.
Clarion Partners funded a 2.3M SF IOS portfolio in March 2025, Stockbridge Partners invested in a Texas portfolio in October, and Apex IOS, backed by Clarion, acquired property in Jacksonville early this year, according to the source. Blake Rodgers, principal at Steel Peak, said core-plus money has begun to enter the IOS space.
Martin Property Group has agreed a deal with PwC to take over approximately 100 NCP car park sites. Martin Property Group would assume the leases and run the operations of those sites rather than purchasing the underlying properties outright, according to Sky News.
NCP went into administration in March owing unsecured creditors, including landlords, more than £200 million. Revenue had consistently declined as fewer people drove into city centres, but NCP was tied into long leases with fixed payments and could not reduce its largest cost when income dropped.
Martin Property Group has a private equity arm that owns a small car parking business called MPG Parking. The proposed takeover of approximately 100 NCP sites would represent a major push into the car parking sector for the group.
Lysara, described as one of NCP's largest single landlords and an infrastructure investor and developer, terminated its leases with NCP and transitioned the operation of 30 car parks to Q-Park and Apex.
Martin Property Group's portfolio includes shopping centres such as Eastgate Square in Chester and Garden Square in Letchworth. The group also holds a residential development portfolio comprising 1,500 units and has acquired dozens of regional shopping centre and residential development assets in recent years.
According to Yardi, pre-leasing across the Yardi 200 — a curated set of the most important student housing markets representing 90% of institutional space — reached 89.1% in July, up from 88.1% in July 2025. However, 117 of the 200 markets were at or above their year-earlier levels, indicating significant variation across markets.
Mike Gordon, global chief investment officer for real estate at Harrison Street, said enrollment, applications, selectivity, research funding and student outcomes are increasingly concentrated at leading institutions, specifically naming Michigan, UVA, UNC and a number of large public Power Four universities, which he said are operating at or above 95% occupancy.
Harrison Street Asset Management sold a 12-property student housing portfolio for $910 million earlier this year, which was described as one of the largest dispositions in the student housing sector in recent years.
Mike Gordon of Harrison Street said differences between university markets have grown quickly due to funding cuts, enrollment trends and specific student demand, making it harder to generalize across markets. Gordon said Harrison Street's conviction in student housing overall is high, but its conviction in every student housing market is not.
Mike Gordon, global chief investment officer for real estate at Harrison Street, specifically cited Virginia Tech, Auburn University and Penn State as markets where housing supply has lagged enrollment growth.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $832,750 or less stood at 6.79%, up from 6.78% the prior week, according to the Mortgage Bankers Association. The average contract interest rate for 5/1 ARMs was significantly lower at 5.94%, a spread that is driving more borrowers toward adjustable-rate products.
Yes. The ARM share of mortgage applications reached 8% last week, its highest level in five weeks, according to MBA chief economist Mike Fratantoni. The average contract interest rate for 5/1 ARMs fell to 5.94%, well below the 6.79% average for 30-year fixed-rate mortgages, making ARMs more attractive despite their future rate-adjustment risk.
No. Applications to refinance a home loan dropped 1% for the week and were 19% lower than the same week one year ago, according to the Mortgage Bankers Association. With rates at current levels, most borrowers have very little incentive to refinance unless they need to pull equity out of their homes.
Total mortgage application volume rose just 0.8% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Purchase applications eked out a 2% weekly gain but remained 0.2% lower than the same week one year ago, when rates were 15 basis points lower.
Assembly Bill 817 would require new cold storage facilities over 20,000 SF to create and maintain a contingency fund of up to $20 million as a condition of receiving approvals to build. Senate Bill 716 would levy higher penalties for violations at large commercial buildings, including cold storage facilities, when major violations occur. Both bills are headed to Governor Gavin Newsom for approval.
Both bills were prompted by the Boyle Heights warehouse fire, which burned for a week in mid-June. The removal and cleanup of the burned and rotting contents of the warehouse was completed on Aug. 29. Nearby residents complained of rats and flies descending on the neighborhood, drawn by the smell of decay.
Provender Partners CEO Neil A. Johnson said the bills would likely make it harder to build a new refrigerated warehouse in California than it already is. Green Street Head of U.S. Industrial Research Vince Tibone said he does not think the legislation will have much impact because there is already little development happening in California, but it will add costs and roadblocks to supply over time.
High construction costs mean developers in California rarely break ground unless a project is preleased or structured as a build-to-suit. Year to date, there is approximately 600,000 SF of cold storage space under construction in the Inland Empire. The average existing cold storage facility in the Inland Empire was built in 1974, according to Newmark data.
According to the source, AB 817 would apply only to cold storage facilities in the Boyle Heights community plan area until July 2028, when it would take effect statewide.
Hackman Capital Partners sold a 57,000-square-foot flex industrial building at 401 Coral Circle in El Segundo to Majestic Asset Management for approximately $27 million, or $480 per square foot. Hackman had purchased the property in 2018 for roughly $15.3 million, according to The Real Deal.
Rivian is subleasing the full 57,000-square-foot building at 401 Coral Circle in El Segundo from Boeing. The lease expires in 2034, according to The Real Deal.
Los Angeles industrial market leasing activity totaled 15.7 million square feet in the second quarter, a 40.4% year-over-year increase, according to CBRE. El Segundo and other South Bay cities are receiving a boost from aerospace and defense tech tenants seeking to locate and grow there.
Hackman Capital Partners' studio portfolio is under financial pressure, with properties being taken over by lenders or pushed toward sales as debt on studios such as Manhattan Beach's MBS Studios and Fairfax's Television City goes into default or threatens to, according to the source.
Harlem's lab vacancy situation is the most acute in NYC. Janus Property Co.'s Taystee Lab Building at 450 W. 126th St. has been empty since it opened in 2022 and faces foreclosure. The nearby Labs On 121, a 193K SF building delivered in 2024 by Real Estate Equities Corp and Nightingale Properties, is also still empty and is now expected to be leased as office space, according to Bisnow.
Industry sources cited several factors: higher commute times from other boroughs and New Jersey; weaker transit and retail amenities compared to Kips Bay, according to Cushman & Wakefield's Sandy Romero; dependence on research institutions such as Columbia and CUNY that have been hurt by federal NIH grant cuts; and citywide challenges including high rents at $99.17 per SF and broader market uncertainty, according to JLL's John Cahill.
Scott Metzner, founder and principal of Janus Property Co., said Wells Fargo sought repayment on a matured loan and Janus was unable to pay it back. The Taystee Lab Building is now facing a foreclosure suit. Metzner said Janus needs a capital infusion to retain the Harlem properties it developed, including the Taystee, Mink, and Malt buildings.
Yes. Alexandria Real Estate Equities' 728K SF of NYC properties are 95.5% occupied, with tenants including Bristol Myers Squibb, Eli Lilly, and Pfizer's Center for Therapeutic Innovation, according to Alexandria's Q2 earnings report. In Long Island City, GFP Real Estate and King Street Capital's Innolabs is fully leased after signing deals with NYU Langone totaling more than 150K SF, plus a 16K SF deal with robotics company Rover.
The NIH issued $35.3B in grants in fiscal year 2025, down from $44.9B the prior year, with disruptions to more than 1 in 5 NIH grants nationally, according to Grant Witness. In New York, $2.1B of $4B in federally allocated NIH funds has not yet been distributed. CUNY ASRC Executive Director Mark Hauber said the cuts have prevented startup companies from receiving grants and continuing to develop, reducing the pipeline of potential tenants.
St. George, Utah is the top-ranked metropolitan market in the NAR index. Nadia Evangelou, principal economist and director of real estate research at NAR, said St. George has the most significant office employment growth in the nation, very strong population growth and in-migration, and above-average industrial demand, reflecting broader momentum rather than a single-sector spike.
South Carolina ranks highest among all U.S. states in future potential demand for commercial real estate, according to the National Association of Realtors index. The NAR index cited Spartanburg, South Carolina as one of the notable smaller markets within the state.
The NAR index compares current market conditions to 2022, the peak of the pandemic migration boom. Raleigh, North Carolina is the only major U.S. market that is stronger today than it was in 2022. Formerly strong markets such as Austin, Texas, Miami, and Naples, Florida have all declined markedly since 2022, according to the index.
NAR principal economist Nadia Evangelou cited Fayetteville, Arkansas, Huntsville, Alabama, and Spartanburg, South Carolina as notable smaller markets. Evangelou said Fayetteville is seeing broad-based growth and Huntsville has one of the strongest multifamily scores in the nation. Evangelou said small and midsized markets could provide some of the best opportunities for investors.
The NAR index uses government data from the Bureau of Labor Statistics and the Census Bureau for population and migration. For office, it measures growth in professional and business services employment. Industrial tracks manufacturing, transportation and warehousing employment growth. Retail measures retail trade and leisure and hospitality employment growth. Multifamily incorporates population growth and net domestic and international migration.
Blue Owl Capital is considering creating a publicly traded data center REIT seeded with about $6.5 billion of its own assets, according to Bloomberg. The vehicle would raise additional capital through an IPO and later share sales to fund acquisitions and portfolio growth. Deliberations remain ongoing and details could change. Blue Owl declined to comment on the report.
People familiar with the matter compared Blue Owl's proposed vehicle with Blackstone Digital Infrastructure Trust, but noted Blue Owl's version would differ by using seeded assets as an anchor from the start. Blackstone's vehicle was structured as a blind pool, meaning investors bought shares before knowing which assets it would own.
Blue Owl closed its latest digital infrastructure fund in May with $7 billion of commitments. The firm has more than $319 billion of assets under management across credit, real assets, and strategic capital. Blue Owl's data center holdings include Stack Infrastructure, with operations in the Americas, Europe, and Asia.
Bloomberg Intelligence analysts Steven Tseng and Rebecca Wang projected that annual global data center capital expenditures could exceed $1.2 trillion by 2028, up from $421 billion last year. AI infrastructure spending is drawing more private-equity-backed data center companies toward public markets, according to the source.
According to CBRE's mid-year outlook, US commercial real estate investment is tracking toward roughly $605 billion for 2026. Industrial and logistics is drawing the most consistent demand, with data centers pulling some of the largest individual transactions. Office investment is recovering but flowing narrowly toward prime buildings in gateway cities. Multifamily demand varies widely by market.
Cushman & Wakefield reports national industrial vacancy has fallen to 6.9%, indicating the sector has passed its weakest point as demand outpaces new supply. First-half industrial absorption reached 113.6 million square feet, the strongest first half since 2023, according to Cushman & Wakefield, with demand concentrated in facilities built since 2020 and those larger than 500,000 square feet.
CBRE reports national multifamily rents rose just 0.2%, while San Francisco saw nearly 10%, reflecting sharp divergence by market. Cushman & Wakefield's multifamily team is more constructive, pointing to strengthening occupancy and demand. Some Nareit panelists are openly cautious, calling 2026 a challenging year for the sector despite deeply discounted valuations.
GI Partners, a San Francisco investment firm, paid around $750 million for a 189,000-square-foot data center in Elk Grove Village, Illinois, according to The Real Deal. The seller, a subsidiary of Australian firm HMC Capital, had bought the property for around $712 million after it was converted from warehouse use. The Real Deal describes it as potentially the most expensive US commercial real estate deal of the year.
The CRE CLO distress rate reached 28 percent in August 2026, up from 19 percent in July, according to CRED iQ data. CRED iQ senior product manager Liam Mulcahy attributed the surge to 2021 and 2022 vintage bridge loans built on rent growth projections that never materialized, with floating-rate plans now running out of runway before balloon maturities.
FSRIA 2021-FL3 is the largest contributor, with $353 million of multifamily collateral in special servicing across seven loans and $131 million moved into distress since spring 2026. ARCLO 2022-FL1 added $210 million of newly distressed collateral in August alone. Five deals account for 38 percent of all CRE CLO special-servicing balance, according to CRED iQ.
The SASB distress rate has held near 22 percent since June 2026 and has not materially worsened, according to CRED iQ. Four single-borrower office and lab deals account for 64 percent of the $1.7 billion SASB distressed balance, with California, New York and Washington D.C. hosting two-thirds of that balance.
No. Distress rates for conduit, Freddie Mac and single-family rental loans have barely moved in eight months and each remain under 5 percent, according to CRED iQ data. CRE CLO and SASB are the only categories that have crossed into double digits, a divergence specific to 2021 and 2022 vintage collateral.
Office and mixed-use loans maturing over the next nine months are pricing 170 to 180 basis points above their in-place notes, according to CRED iQ, which characterizes that as the widest refinancing gap of any property type.
According to Colliers, office sector sales reached $7.6 billion in July 2026, a 31% year-over-year increase. CBD sales volumes rose 46%, driven by individual asset sales that more than doubled. Suburban sales were up 26%, boosted by portfolio activity including medical office portfolios. Office was the only commercial property type to post a price increase, with prices up 4% year over year.
Colliers reported hospitality July volume rose 61% year over year to $2.5 billion. Gains were led by full-service hotels, which saw stronger portfolio and individual asset sales. Limited-service volume also rose with a focus on portfolio sales. However, the hotel CPPI fell 8.6% year over year and trailing 12-month cap rates rose to 8.3%.
According to Colliers, multifamily July sales totaled $12.4 billion, down 16% year over year. Individual asset sales declined 25%. Portfolio and entity activity rose 21%, but Colliers noted that gain was attributable to one large California portfolio transaction; without it, mid- and high-rise portfolio sales would have been down year over year. The apartment CPPI also fell 4.1% since last July.
Colliers reported industrial sector July volume was flat year over year at $9 billion. Portfolio and entity activity rose 9% while single-asset sales fell 4%. Warehouse volume fell 1% but flex sales increased 5%. The industrial sector's trailing 12-month cap rates rose to 6.6% from last year's 6.3%, according to Colliers.
Colliers reported retail July sales volume of $4.7 billion, down 13% from a year earlier. Portfolio and entity sales fell sharply, while single-asset activity was down 1%. Shopping centers continued to be a standout category within retail. The retail CPPI declined 0.9%, according to Colliers.
Lone Star Funds completed the acquisition with TMG Partners and Grove as joint-venture partners. TMG Partners and Grove will operate the portfolio. The source does not disclose additional details about ownership stakes or management responsibilities beyond those roles.
The portfolio consists of Class A, predominantly single-story research-and-development real estate assets in Silicon Valley. The source describes the space as laboratory and R&D style, sitting at the intersection of life sciences and technology-related real estate demand.
Lone Star Funds described the acquisition as the largest institutional aggregation of Class A, predominantly single-story R&D real estate assets in Silicon Valley. The characterization comes from the buyers; the source does not cite an independent third-party verification of that claim.
According to the source, the portfolio targets laboratory and research-and-development style space at the intersection of life sciences and technology-related real estate demand, and the transaction adds to the life sciences and innovation-property market in Northern California.
Keppel DC REIT and sponsor Keppel agreed to pay 190 billion yen, or about $1.19 billion, for a 90% effective interest in two data centres in Tokyo, according to Reuters.
Keppel DC REIT is funding its contribution to the acquisition partly through a private placement aimed at raising at least S$600 million, with those proceeds directed toward the transaction.
Keppel DC REIT will hold an 88.62% effective interest in each of the two Tokyo data centre assets. Sponsor Keppel will retain 1.38% and the existing operator will keep 10%.
According to the report, the Keppel DC REIT transaction highlights continued investor demand for data-centre assets even as capital-raising remains necessary to close large transactions.
JVP Development is committing $37M of its own money to the speculative office project in Frisco, Texas, according to Bisnow's Dallas-Fort Worth reporting dated August 1, 2026. The developer is moving forward without a tenant secured.
JLL Capital Markets arranged the $62.5 million loan on behalf of the borrower, a partnership between Wheelock Street Capital and Camber Development. Blue Light Capital provided the financing. The JLL team was led by Senior Managing Directors Brett Paulsrud and Steve Klein, Director Ryan Parker, Vice President Hugh Doherty, and Analyst Libby Horton.
The 148,458-square-foot first building at 44 Middlesex Turnpike delivered at the end of 2024 and is currently 32% leased to Fourth Power, an energy sustainability and grid resilience company. Fourth Power is commercializing a long duration thermal energy storage system that spun out of MIT, where its founder is a Professor.
The facility features 36-foot to 40-foot clear heights in high-bay areas, 8,600 amps of power per building totaling 17,200 amps across the campus, flexible mezzanine space with 20-foot clear heights, 40-foot by 40-foot column spacing, and six loading docks per building. The reinforced roof structure accommodates rooftop mechanical systems.
The campus includes a 12.3-acre pad-ready development site adjacent to the existing building, entitled for an additional 147,000 square feet. Upon completion of that second phase, the campus at 44 Middlesex Turnpike would total 295,000 square feet of advanced manufacturing space.
According to the JLL announcement, Greater Boston has experienced significant growth in advanced manufacturing tenant demand over the last 12 months, driven by venture capital investment in physical AI and robotics, aerospace and defense, energy storage and climate technology, semiconductor development, 3D printing, medical devices, and biomanufacturing. Massachusetts ranks second nationally in advanced manufacturing investments since 2020 and first in per capita investment.
Peter Muoio of SitusAMC said investors view commercial real estate as stable in turbulent times relative to other asset types, amid circumstances including tariffs, the war in Iran, and heightened uncertainty. Muoio noted that cash has also been strong for similar reasons, while stock and bond markets can exhibit wide fluctuations.
Peter Muoio of SitusAMC said the preference to buy and the preference to sell met in the second quarter of 2026 for the first time in several years. Muoio said this suggests a potential meeting of the minds between buyers and sellers and that if market perceptions are becoming more aligned, it can indicate a growing potential for more transactions to take place.
Peter Muoio of SitusAMC said that since the Federal Reserve raised interest rates in June 2022, CRE transaction flow has averaged approximately $42 billion per month. Muoio said the average in the year prior to that period was $192 billion per month, representing a significantly lower deal flow environment that has persisted for four years.
SitusAMC's ValTrends 2Q 2026 data showed retail investor preference at 21 percent for the quarter versus 9 percent a year earlier. Office preference stood at 11 percent in second quarter 2026, still significantly higher than the persistent zero-to-2 percent range of recent years. Peter Muoio said investors are looking more broadly across CRE asset classes than they recently have.
Peter Muoio of SitusAMC said the industry needs less uncertainty and lower interest rates, which he described as intertwined. Muoio noted the 10-year Treasury was at 4.7 percent in recent weeks and said that if uncertainty and interest rates begin to ease, it would allow the volume of transactions, refinancings, and investments to begin to open back up.
Invesco Real Estate acquired Crossroads Logistics Park. The sellers were Brennan Investment Group and Grandview Partners. JLL Capital Markets represented the sellers in the transaction, with the JLL team led by Senior Director Dave Andrews, Senior Managing Director Pete Pittroff, SIOR, and Director Michael Scarnato.
Crossroads Logistics Park reached 100% stabilization during the marketing process after leasing its final suite. The tenant roster is described as diversified and credit-worthy, and the average remaining lease term exceeds five years, according to JLL.
Crossroads Logistics Park is located near the intersection of Interstate 85 and Interstate 26, less than 10 miles from Greenville-Spartanburg International Airport, less than 90 miles from Charlotte Douglas International Airport, and has immediate access to the South Carolina Inland Port and the nearby BMW Manufacturing campus, according to JLL.
Brennan Investment Group, a Chicago-based private real estate investment firm, has acquired or developed $6.5 billion in industrial real estate in 30 states since 2010. The company's current portfolio spans 30 states and encompasses approximately 58 million square feet.
Invesco Real Estate had $86.3 billion in real estate assets under management as of December 31, 2025, with 596 employees and 21 regional offices across the U.S., Europe, and Asia Pacific, according to Invesco Real Estate.
Data centers were the primary driver, accounting for nearly half of July's $74.4 billion in total commercial real estate sales at $33.8 billion, according to Bisnow citing MSCI's Capital Trends report. The largest single transaction was the BlackRock Global Infrastructure Partners and Abu Dhabi's MGX acquisition of Aligned Data Centers in a $40 billion deal.
According to MSCI's monthly Capital Trends report as cited by Bisnow, urban office sales rose 48% year over year in July and suburban office sales rose 28% year over year, indicating a broad acceleration across both office submarkets.
BlackRock Global Infrastructure Partners and Abu Dhabi's MGX acquired Aligned Data Centers in a $40 billion transaction, according to Bisnow. The deal was cited as the lead transaction behind data centers accounting for $33.8 billion of July's total commercial real estate volume.
Hotel sales rose 61% year over year in July, according to MSCI's monthly Capital Trends report as cited by Bisnow, making hospitality one of the sectors showing broadening activity alongside data centers and office properties.
Independence Realty Trust will acquire Centerspace in an all-stock transaction. Each Centerspace share will be swapped for 3,800 IRT shares, leaving Centerspace shareholders with roughly 22% of the merged company's combined equity. The deal creates roughly 67.6 million new IRT shares and gives the combined company an $8.1 billion enterprise value. The transaction is expected to close in the fourth quarter, pending shareholder approval.
Before the deal, IRT had a 79% concentration in the Sun Belt. After adding Centerspace's entirely Midwest and Mountain West portfolio, IRT's Sun Belt exposure will fall to 58%, with 27% in the Midwest and the remainder in the Mountain West, according to a filing with the Securities and Exchange Commission.
IRT management identified $24 million of annual synergies from the Centerspace transaction. Of that total, $19 million is at the corporate level, with the remaining synergies coming from property-level savings. IRT management also said the deal is neutral on debt and expects it to be immediately accretive.
IRT leadership will take over management of the combined portfolio. IRT CEO Scott Schaeffer will continue to lead the board, and Jim Sebra will remain as IRT's chief financial officer. The board of directors will expand by two seats to be filled by Centerspace representatives. IRT did not disclose whether any Centerspace executives would join the management team.
Longpoint Partners paid $195 million for a 10-building Miami-Dade industrial portfolio totaling 729,901 square feet. The portfolio was 90% occupied by 74 tenants at closing, with 231 loading positions, clear heights up to 25 feet, both rear- and front-loading configurations, and a 40% floor area ratio, according to CRE Daily.
Longpoint Partners' two disclosed South Florida acquisitions together exceed 2.1 million square feet. The firm acquired a 1.4 million square foot portfolio across 12 Miami and Fort Lauderdale locations for $262 million in 2023, and has now added another 729,901 square feet through the $195 million Miami-Dade portfolio purchase, according to CRE Daily.
Longpoint co-founder Dwight Angelini said the firm's strategy focuses on functional small-bay industrial assets in well-located markets, with diversified tenant bases and locations where new supply is hard to create. Longpoint said the strategy centers on operating existing infill buildings rather than a near-term development program, according to CRE Daily.
Longpoint said the assets benefit from Miami's population growth, access to major transportation infrastructure, and proximity to consumer markets. Longpoint also pointed to limited new supply for well-located infill product and said it believes limited new supply can support durable value for institutional investors, according to CRE Daily.
Longpoint Partners' 2023 purchase of a 1.4 million square foot South Florida industrial portfolio for $262 million, spanning 12 Miami and Fort Lauderdale locations, was the largest single industrial deal recorded in Florida that year, according to CRE Daily.
CBRE Investment Management acquired Tenet Equity's net-lease platform for $1.6 billion. The portfolio includes 208 assets across 39 states totaling 12 million square feet of commercial real estate, fully leased to middle-market industrial tenants with an average lease term of roughly 17 years, according to CBRE.
CBRE Investment Management is the global investment arm of CBRE with $155 billion in assets under management, according to the announcement.
Tenet Equity, described as a sale-leaseback specialist and capital provider, will remain as an operating partner. CBRE Investment Management will partner with Tenet Equity on managing the assets and growing the net-lease platform, according to CBRE.
CBRE Investment Management appointed senior portfolio manager Akash Shivashankara to lead the management and growth of the net-lease platform. Truist Securities advised CBRE Investment Management on the transaction, according to the announcement.
Adam Gallistel, co-CEO and chief investment officer of CBRE Investment Management, said the net-lease sector is a hedge against persistent inflation due to its long lease terms and lack of capital expenditures.
Hines acquired three retail park assets totaling approximately 438,000 square feet, according to CRE Herald. All three assets are fully leased and located across Greater London. No purchase price was disclosed in the source.
The three retail parks acquired by Hines are located across Greater London, according to CRE Herald. The source does not identify the specific towns or submarkets within Greater London where the assets are situated.
Yes. According to CRE Herald, all three retail park assets acquired by Hines are fully leased at the time of acquisition.
Yes. According to CRE Herald, the three-asset acquisition expands Hines's existing retail park holdings in the UK, specifically in the Greater London region. The source does not detail the size or composition of the prior portfolio.
According to Avison Young, commercial real estate transaction volume reached $233.6 billion in the first half of 2026, as reported by Commercial Real Estate Direct on September 4, 2026.
Avison Young reported that first-half 2026 CRE transaction volume of $233.6 billion was up 14.7% from the $203.7 billion recorded in the first half of the prior year.
The $233.6 billion first-half 2026 CRE transaction volume figure came from Avison Young, as cited by Commercial Real Estate Direct in a September 4, 2026 staff report.
Ares Management paid a combined $108.7 million for two fully leased warehouses in Miami-Dade County, according to property records. The seller was BGRE, formerly called Brookfield Properties, which developed both buildings and completed them between 2022 and 2023.
Target is the sole tenant of the Hialeah distribution center, having signed a 10-year lease in 2022 with two five-year extension options, according to county records. E-commerce parcel delivery company LaserShip has leased the entire warehouse near Sweetwater.
The larger property is a 230,147-square-foot, 15-acre distribution center at 3811 West 108th Street in Hialeah, situated between Florida Turnpike and Interstate 75. The second is a 142,472-square-foot, 8-acre warehouse at 13190 Northwest 17th Street, west of the Florida Turnpike near Sweetwater, approximately 13 miles south of the first.
Since opening a Miami Beach office in 2024, Ares Management has made several South Florida industrial acquisitions. In addition to the $108.7 million two-warehouse purchase, Ares bought a 230,976-square-foot warehouse in Weston for $56 million and a 456,219-square-foot industrial portfolio in Broward County for $121 million last year.
A spokesperson for Ares Management declined to comment, and a representative for BGRE did not immediately respond to requests for comment, according to the article by Julia Echikson published September 4, 2026.
ExchangeRight Real Estate paid $94.8 million, or $126.48 per square foot, for the 749,550-square-foot industrial property at 9800 217th St. West in Lakeville, Minnesota, according to Commercial Real Estate Direct.
The industrial property acquired by ExchangeRight Real Estate in Lakeville, Minnesota totals 749,550 square feet, according to Commercial Real Estate Direct.
The acquisition of the Amazon-leased industrial property in Lakeville, Minnesota is associated with ExchangeRight Net-Leased Portfolio 61 DST, according to Commercial Real Estate Direct.
Arch Street Capital Advisors is tagged in connection with the ExchangeRight Real Estate acquisition of the Amazon-leased industrial property in Lakeville, Minnesota, according to Commercial Real Estate Direct. The source does not specify the advisory role.
The 749,550-square-foot Amazon-leased industrial property in Lakeville, Minnesota traded at $126.48 per square foot, for a total sale price of $94.8 million, according to Commercial Real Estate Direct.
Traditions Management, a Dallas-based developer and operator of senior living communities, purchased Doral Marketplace for $83 million, according to property records. Traditions Management assumed a loan with $50 million in outstanding debt, which has been assigned to Bank of Texas. The sale excluded a 1.8-acre parcel leased to Chick-fil-A.
The buyer, Traditions Management, assumed a loan with $50 million in outstanding debt as part of the $83 million transaction. That loan has been assigned to Bank of Texas, according to property records.
Whole Foods anchors Doral Marketplace with a 43,000-square-foot location. Other tenants include J. Crew Factory, Ulta Beauty, Shake Shack, First Watch, GoodVets, The Spot Barbershop, Encore Nails, VIO MedSpa, and Apizza Brooklyn Resto + Vino. A Chick-fil-A occupies a separately leased 1.8-acre parcel excluded from the sale.
During the second quarter of 2026, Miami-Dade County retail average asking rents reached $42.50 per square foot, up 2.6 percent quarter-over-quarter, while the vacancy rate fell to 3 percent. More than 1.3 million square feet of retail space remains under construction in the county.
Atlanta-based SJC Ventures completed Doral Marketplace last quarter, prior to the $83 million sale, according to the source. The property is described as newly completed at the time of the transaction.
Senator Ron Wyden's white paper proposes a new federal 'Data Center Public Investment excise tax' at a rate in the low single-digits on data center development. Wyden also calls for repealing existing tax breaks that 40 states currently provide to data center developers, many of which come in the form of sales tax exemptions on servers and equipment.
Wyden said approximately $700 billion in data centers are currently under development nationwide. Wyden also said data center construction has quadrupled nationwide over four years, and McKinsey estimates the AI industry will pour $7 trillion into infrastructure by 2030.
The libertarian Cato Institute argued the proposed tax could drive data center tax rates over 100% and that taxing revenue rather than business activities could penalize the least profitable data centers. Cato's analysis said such a tax could end new data center development and risk stripping the U.S. of its status as the global leader in AI and cloud-based technologies.
Ohio has paused tax incentives for data center facilities after realizing the state is losing billions in foregone taxes, according to the source text.
The IRS disallowed the two conservation easement deductions based on potential mining activity, according to court filings reported by Law360. The Alabama developer argued the IRS failed to adequately explain why potential mining activity was sufficient grounds to reject the combined $78 million in deductions.
Court documents associated with the dispute include two petitions identified as Petition (Hollow Oak) and Petition (Singh Moore), according to Law360. The two easements together represent a combined $78 million in disallowed deductions.
The Alabama developer told the court the IRS was wrong to disallow the two conservation easement deductions without adequately explaining why potential mining activity justified the disallowance, according to Law360's September 3, 2026 report.
The two conservation easement deductions at issue have a combined value of $78 million, according to Law360. The IRS disallowed both deductions, and the Alabama real estate developer is seeking to have them restored through a legal challenge.
Each 1031 exchange carries the original cost basis forward into the replacement property, deferring gain rather than erasing it. If the owner holds the final property until death, Internal Revenue Code Section 1014 gives heirs a stepped-up basis equal to fair market value on the date of death, permanently eliminating all deferred gain from every prior exchange for income tax purposes, according to the source.
The replacement property must be formally identified within 45 calendar days of closing the sale of the relinquished property, and the purchase of the replacement must close within 180 calendar days of that same original sale closing. Both clocks run concurrently, include weekends and holidays, and missing either deadline collapses the exchange and makes the full accumulated gain taxable, according to the source.
An ordinary cash sale triggers all accumulated deferred gains in a single tax year. On the source's example of a $2 million property with a basis tied to a 1994 purchase, selling rather than exchanging exposes up to $1.85 million in gain to a 20% federal capital gains rate, a 3.8% net investment income tax, and a 25% unrecaptured depreciation recapture tax, according to the source.
Yes. Unrecaptured Section 1250 gain, which represents depreciation recapture and is taxed at a federal rate of up to 25% on an ordinary sale, is deferred through each 1031 exchange along with the capital gain. The stepped-up basis under Section 1014 wipes both the deferred capital gain and the depreciation recapture away at death, according to the source.
Since the Tax Cuts and Jobs Act took effect on January 1, 2018, only real property qualifies for 1031 exchanges. Both the relinquished and replacement properties must be held for investment or business use. A primary residence does not qualify, nor does a property bought primarily to resell. Exchanges of equipment, artwork, or vehicles are no longer permitted, according to the source.
Crunchbase data shows global proptech startups raised about $8.7 billion through August 2026, compared to $12.3 billion raised in all of 2025 and $24 billion in 2019, which was the second-highest year on record after the 2021 venture funding spike. With four months remaining in 2026, funding is on pace to roughly match or slightly exceed 2025 levels.
According to Crunchbase data, venture investors in 2026 are backing startups working in AI-driven construction, property operations, underwriting, and transaction infrastructure with demonstrable ROI. More generic real estate software and later-stage companies without exceptional growth face significant funding challenges.
Four of the five largest proptech deals in 2026 took place outside the United States, according to Crunchbase data. The three largest rounds went to Stockholm-based Stegra ($1.6 billion), Madrid-based Hydnum Steel ($695 million), and Amsterdam-based Mews ($300 million), with Montreal-based Nesto ($216 million) also making the top five.
Autodesk announced a $3.6 billion cash purchase of MaintainX in May 2026. Other major deals included Compass completing its $1.6 billion all-stock acquisition of Anywhere in January, The Real Brokerage completing its $880 million acquisition of RE/MAX Holdings in August, Procore announcing an $845 million cash purchase of DroneDeploy in July, and CoStar Group completing an $800 million cash purchase of Zonda in August.
The only known significant proptech IPO in 2026 was conducted in January by Columbia, Missouri-based EquipmentShare, a construction-equipment rental company with a jobsite technology platform. EquipmentShare raised about $747 million in primary proceeds by pricing 30.5 million shares at $24.50, with the total offering including shares sold by existing holders reaching approximately $859 million.
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