SUMMARY

In today’s economic environment, distinguishing the signal from the noise has rarely been more important. Markets remain volatile, shaped by geopolitical tensions and shifting monetary and trade policy. While these factors have introduced near-term uncertainty, we believe much of the disruption is temporary. As clarity returns and we move beyond this period of policy-driven volatility, the underlying fundamentals point to compelling opportunities for commercial real estate investment, particularly in the U.S. Structural tailwinds, including demographic growth, supply constraints, and the reconfiguration of global supply chains, are laying the groundwork for strong performance in the years ahead.