Despite the noise around a commercial real estate “slowdown,” smart capital is anything but idle. Across debt, equity, and development strategies, the story isn’t about retreat, it’s about reallocation, recalibration, and resurgence.

Here’s a look at what institutional investors, family offices, and forward-thinking sponsors are doing and how those shifts are setting the tone for the 28th Real Estate Private Equity Summit: West this September in Los Angeles.

1. Institutional Capital Is Reallocating, Not Retreating

Forget the exits. Institutional LPs are repositioning, not retreating. Private credit, infrastructure, and niche real estate are taking center stage.

• The pivot: LPs are favoring smaller, sector-specific funds and leveraging co-investments and SMAs to stay close to deals.
  
  
• Liquidity matters: Demand for shorter-duration and income-generating strategies is on the rise.
  
  
• Retail access is growing: KKR and Capital Group’s new blended funds point to growing interest in giving retail investors a slice of private real estate.
  
  

Summit Spotlight: Mike Gatto of LACERA will unpack how large public pension boards are managing risk and capital deployment in today’s evolving climate.

2. CRE’s $1 Trillion Maturity Wall Is Driving Strategic Reset

With nearly $1 trillion in commercial real estate debt maturing this year, refinancing hurdles are creating both tension and opportunity.

• Distress is off-market: Expect more note sales and behind-the-scenes deals.
  
  
• Complex capital stacks: Understanding intercreditor relationships has never been more crucial.
  
  
• Creative solutions reign: Mezz loans, preferred equity, and “extend and pretend” are common tactics to bridge refinancing gaps.
  
  

Summit Spotlight: Industry leaders from Prudential and PGIM Real Estate will join a deep-dive debt panel to explore the new playbook for refinancing and risk-adjusted returns.

3. Technology Moves From Add-On to Core Strategy

Tech isn’t just a cost center anymore—it's a differentiator. Real estate firms embracing AI, automation, and advanced data analytics are separating from the pack.

• AI in action: From underwriting and tenant risk modeling to cost forecasting.
  
  
• LP expectations: Investors are seeking genuine tech infrastructure, not buzzwords.
  
  
• Responsible AI: Scrutiny around data bias and algorithm transparency is increasing.
  
  

Summit Spotlight: In the Executive Strategy Sessions, operators will share how they're using tech to win deals and outperform.

4. Adaptive Reuse Gains Steam, But It’s Not One-Size-Fits-All

As demand for office space shrinks, conversion projects are gaining momentum—but only in markets where fundamentals and zoning align.

• Where it works: Urban areas with strong multifamily demand and flexible regulations.
  
  
• Financing hurdles: Many projects still hinge on incentives or public-private partnerships.
  
  
• ESG influence: Institutional backers are driving greener design requirements.
  
  

Summit Spotlight: The CRE Shake-Up session will dive into high-profile conversions like SoMA in NYC, and how firms are making the math and mission work.

What Else Is Driving the Market Shift?

• Persistent Valuation Gaps: With cap rate spreads compressed and interest rates still elevated, dealmaking is cautious. Sessions on distress and capital strategy will offer tools for underwriting in this uncertain environment.
  
  
• California’s Policy Tailwinds: Legislative changes like SB 9 and SB 10 are unlocking new development opportunities, particularly in high-density and transit-friendly areas.
  
  
• Multifamily Sector Recovery: Cap rates are recalibrating, transactions are ticking up, and investor appetite is cautiously growing—topics explored in our Tactical Debate session.
  
  
• Foreign Capital Resurgence: With global investors returning in force, expect deep dives on cross-border deal structuring and what foreign LPs are looking for in U.S. real estate.
  
  

Want to Be Part of the Conversation That Moves Markets?

Join 300+ private equity leaders, institutional investors, lenders, and developers at the 28th Real Estate Private Equity Summit: West on September 25 in Los Angeles.

✔ Engage with key LPs and GPs shaping the capital flow
✔ Learn how to thrive in the face of refinancing hurdles
✔ Get real-world insights on AI, adaptive reuse, and cross-border capital

Don’t wait—space is limited.