5 takeaways from StepStone’s real estate convictions survey
(number 4 may surprise you)
StepStone Group just released a summary of their latest deep dive into investment managers' and sponsors' year-end reports and 2025 outlooks.
The sector-specific fundamental summaries alone are worth a listen, but the broader takeaways stood out even more:
1️⃣ Property values have likely bottomed.
2️⃣ Debt markets are improving.
3️⃣ Retail and senior housing offer strong yields and stability.
4️⃣ Value-add office is showing renewed promise.
5️⃣ Multifamily pricing remains tough but could present opportunities if loan maturities force sales.
The full deck is attached, and you can watch StepStone’s 30-minute discussion on their site. They emphasize that performance will be property-specific, but the renewed interest in value-add office is a notable shift.
Wouldn’t be surprised to see major players reentering that space in the coming months.
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