All Returns articles
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White papersMomentum Fractures Across Markets
After years of gradual recovery, Asia Pacific real estate entered 2026 in better shape than it had been in years. That progress is now at risk.
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White papersEssential Housing Research Perspective Q1 2026
The essential housing sector posted positive, albeit modest, performance in the first quarter of 2026.
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White papersCRE’s recovery masks a widening divide
The CRE recovery remains intact, but the headline obscures an increasingly uneven landscape. A 144 basis point spread between the top and bottom quartiles of NPI returns in 1Q26 underscores the extent of this divergence. With limited scope for further cap rate compression, NOI growth is likely to be the primary driver of returns this cycle. For the first time in 30 years, alpha will likely be earned, not given, through disciplined property and market selection paired with operational execution.
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White papersThe Red Thread: Alts’ tenacity, tested once more
Our semi-annual insights into alternatives, Edition June 2026
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Research ReportResilient U.S. transaction volumes: +15% YoY in May
Real Capital Analytics’ newest data shows U.S. commercial real estate transaction volumes increasing, with headline volumes rising +15% YoY to $42bn. Equally notable, April 2026 was revised meaningfully higher, narrowing that month’s YoY decline to -14%, from -33% previously. As a result, 2Q26-to-date volumes now stand at +0.8% YoY, and YTD volumes are tracking ~20% ahead of the same period last year.
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White papers2026 Mid-year update: Inside Real Estate Outlook
Amid geopolitical volatility and shifting macro crosscurrents, the CRE recovery is intact - but uneven, with wider dispersion than headlines reveal. This creates a market that is ripe for alpha discovery through careful property, market, and fund selection.
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Asset Manager NewsCentraal Beheer Algemeen Pensioenfonds joins Achmea Real Estate fund
Centraal Beheer Algemeen Pensioenfonds (Centraal Beheer APF) is joining the Achmea Dutch Health Care Property Fund, the healthcare real estate fund managed by Achmea Real Estate. The pension fund will initially invest € 57 million. This amount is expected to grow in line with the anticipated growth of Centraal Beheer APF in the coming years.
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Asset Manager NewsInvestments in Dutch student housing grow to nearly €1 billion
Interest from institutional investors in Dutch student housing has increased significantly in a short period of time. In 2025, nearly €1 billion was invested in this type of housing, of which more than €400 million came from pension funds and insurers.
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White papersReal Estate Investment Outlook: Poised for recovery, but facing headwinds
Despite still-subdued market activity, our real estate outlook points to continued evidence of a market recovery that we expect to gather momentum into 2026, with transaction volumes and edging higher, rents being supported by constrained supply, and valuation opportunities across sectors and geographies.
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White papersGlobal real estate outlook – Edition June 2026
Middle East conflict is creating uncertainty
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White papersFarmland: The Red Thread – Alternatives, mid-year edition 2026
As energy prices ripple through global agriculture, investors are questioning farmland’s resilience. Dan Murray, Head of Farmland, cuts through the noise, explaining why rising input costs may test farmers in the short term, but need not derail the long-term strength and value of well-structured farmland investments.
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White papersThe power of private real assets
Navigating today’s unpredictable markets means rethinking what belongs in a portfolio. Private real assets like farmland, timberland, infrastructure, and commercial real estate have quietly demonstrated staying power across decades and shifting economic cycles. Nuveen’s latest research draws on more than 30 years of data to show how these assets may improve portfolio resilience, hedge inflation, and reduce correlation to traditional investments. Explore the full paper to see what the data reveals.
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White papersHow constraints are shaping data infrastructure
In data infrastructure, connectivity—and the constraints around it—is increasingly determining which assets can be built, scaled and able to deliver durable returns
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White papersExploring the Opportunity in Alternative Real Estate
Alternative real estate sectors are gaining traction. In this Q&A, Anar Chudgar explores what’s driving demand and how to underwrite these opportunities.
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White papersHeadline ODCE returns mask a selection-driven cycle
Performance across core real estate funds, as reported by ODCE indices, improved in 1Q26, but the underlying story remains one of divergence rather than uniform recovery. Europe outperformed the U.S., though for different reasons: U.S. returns are still income-led, while Europe is increasingly benefiting from recovering capital appreciation.
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White papersUK real estate in 2026: an income‑led real asset opportunity
UK commercial property has undergone a period of repricing and adjustment but is once again demonstrating the qualities long-term investors value most: resilient income, relatively low volatility and tangible scope for value creation through active management.
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White papers2026 Europe - Student Housing, Sector Update
On the Continent, we have continued to observe strong performance of student housing assets. However, the latest academic year marked a material slowdown in operational performance for assets in the UK. Pricing in the sector has reflected changing fundamentals, as yields on the continent have remained stable or shown early signs of compression on a small number of markets, including Spain, Italy and Denmark.
