Not All Real Estate Is Created Equal
- Concerns about commercial real estate overlook dramatic dispersion across subsectors.
- US public data center REITs are up 19.4% year-to-date, given accelerated fundamentals, with apartments and logistics also up strongly.1
- Conversely, US office is seeing all-time high national availability of 26%,2 reflected in office REITs down 16.2% year-to-date.
US Public REIT performance year-to-date
- FTSE NAREIT, as of June 30, 2023. Reflects total return of publicly traded REITs by NAREIT subsector from December 30, 2022, to June 30, 2023.
- CoStar, as of March 31, 2023. Based on Class A buildings greater than 100,000 sf, excluding owner-occupied buildings.
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