PENSION REAL ESTATE ASSOCIATION (PREA)

Give the Gift of Opportunity This Season This holiday season let’s spread the joy of giving. 100% of your donations directly to support students in financial need with a stipend, ensuring they can afford the travel and housing for their summer internships. Here is a message from a PREA Foundation Grantee, SEO Real Estate Program Participant:   “As a first-generation student raised in a household with two immigrant parents, I knew it would be a challenge to break into this industry. Through my own research, I found out about SEO Career and recognized it as an opportunity that I couldn’t miss. SEO has been a crucial component in my career journey – I am currently applying my knowledge to making strategic and insight-driven real estate investments for large institutional clients, many of which are pension and retirement funds.”    With your help, we can reach our $100,000 goal. Make a Difference Now by Donating: https://lnkd.in/eiAyc44k Let’s continue to inspire through education and broaden young professionals' access to life-changing career opportunities.

As we close out 2024, we’re excited to announce a new chapter of leadership within the Research Affinity Group, PREA’s primary forum for exploring the trends, challenges, and opportunities shaping the institutional real estate market. Thank you to Gleb Nechayev, of Berkshire Residential Investments for his outstanding contributions during his time as a co-leader. Gleb, your dedication and insights have been invaluable to the group and its members—thank you for your service! Looking ahead to 2025, we are delighted to welcome Elizabeth Ptacek of StepStone Real Estate as the incoming co-leader. Liz will join William Pattison of MetLife Investment Management to host the events and discussions that make this group so valuable. We’re excited for the fresh perspectives Liz will bring alongside William as they guide the conversations shaping the future of the institutional real estate market. Thank you again, Gleb, for your remarkable leadership, and welcome, Liz, to your new role! #PREA #RealEstateResearch #LeadershipUpdate #InstitutionalRealEstate #AffinityGroups #PREAresearch

REGISTRATION IS NOW OPEN 
FOR THE 2025 PREA SPRING CONFERENCE IN DALLAS, TX We are excited to announce our Conference Co-Chairs are Sue Ansel, Clarion Partners, Michael Levy, Crow Holdings and Julie Solomon, Ares Real Estate. Click here to register: https://lnkd.in/esYYgbEW Be on the lookout for program updates. We look forward to seeing you in Dallas this March!

Support Student Dreams in Real Estate In 2024, the Pension Real Estate Association (PREA) Foundation provided $100,000 in scholarships to unlock opportunities for summer internships with Institutional Investor firms. PREA Foundation wants to make this same impact in 2025. With your help, we can provide students in financial need with scholarships and continue to broaden young professionals’ access to life-changing career opportunities. Here is a message from PREA Foundation Grantee, Girls Who Invest Program Participant:  “Throughout the 10 weeks of my internship, PREA Foundation was an immense support in providing housing resources in a city and state that was new to me while providing me with the valuable opportunity to gain a foot in the door of the commercial real estate industry. I am excited to explore more careers within the industry and apply the skills and learnings from this experience.” Join Us in Giving: https://lnkd.in/eiAyc44k Let’s continue building a stronger, more inclusive future for commercial real estate.

Together, We Can Change Lives – Join the Pension Real Estate Association (PREA) Foundation End-of-Year Appeal We’re excited to announce the launch of the PREA Foundation’s end-of-year appeal! Your contributions provide financial aid to low-income students for travel and housing stipends, enabling them to pursue summer internships in commercial real estate. Every dollar matters and 100% of your donation goes directly to students. Together, our goal is to raise $100,000 by December 31st. Here is a message from a PREA Foundation Funded Program Participant, Sosna Biniam: “Thanks to the generosity of the PREA Foundation, I was able to cover the cost of transportation to my internship, which was a source of stress for me and my family. I am so grateful to have been placed with NYSTRS, which was an incredibly transformative internship experience.” Support Tomorrow’s Leaders Today by Donating: https://lnkd.in/eiAyc44k

PREA Announces New CEO The Pension Real Estate Association (PREA) is pleased to announce the appointment of Zoe Hughes as its incoming Chief Executive Officer. Zoe will succeed Gail Haynes, who announced earlier this year her intention to retire at the end of 2025. Hughes, who currently serves as the CEO of NAREIM (the National Association of Real Estate Investment Managers), brings significant leadership experience and comprehensive industry knowledge to PREA, an organization dedicated to advancing institutional investment in real estate through educational forums and programming. “After an extensive search, we are excited to welcome Zoe Hughes as the next CEO of PREA,” said Anar Chudgar, Chair of the PREA Board of Directors. “Her ability to drive strategic vision, engage stakeholders, and deliver impactful initiatives aligns perfectly with PREA’s mission of supporting institutional investors and advancing global real estate investment practices.” “PREA has long served as the leading voice for institutional real estate investors and is a critical part of an industry navigating profound change,” said Hughes. “To be involved in this vital work is an honor, and to have the opportunity to build on the incredible achievements of the past 30 years, realized through Gail’s leadership, is a true privilege. I look forward to collaborating with PREA’s members, stakeholders and staff to ensure the organization continues to drive meaningful impact for our industry.” PREA’s Board of Directors joins Hughes in expressing their gratitude for Gail’s dedication and leadership throughout her three decade tenure, during which PREA’s membership, programming, and global reach have expanded significantly. “It has been a privilege to serve this distinguished organization,” Haynes said. “PREA’s success owes much to its mission of investor education and to the extraordinary leadership of its Board and the engagement of its members. In Zoe, the Association has a respected leader who will pursue and advance that educational mission with determination and consummate skill.” As PREA looks to the future, Hughes’s appointment signals the Association’s continued commitment to delivering high-value programs and initiatives that address the evolving needs of the institutional real estate investment community. Its mission of investor education remains front and center. For more information, visit www.prea.org or contact Sue Marshall at communications@prea.org. 

We’re thrilled to announce a leadership update within the PREA community! Please join us in congratulating Diane Smola of Principal Real Estate Investors on her new role as co-leader of the Defined Contribution Plans Affinity Group. Diane will be serving alongside co-chair Tripp Braillard of Clarion Partners. As Managing Director, Diane brings over 25 years of defined contribution experience and is responsible for developing and advancing real estate investment solutions in this market. With her expertise and leadership, we’re confident the DC Affinity Group is in great hands! We’d also like to extend our heartfelt thanks to outgoing leader Ali Siby, from Hines. Ali’s dedication and insights have been instrumental in organizing successful group meetings and fostering meaningful discussions for PREA members. Thank you, Ali, for your invaluable contributions! As we head into 2025, why not make joining a PREA Affinity Group part of your New Year’s resolutions? Explore how these groups can enhance your professional journey here: https://lnkd.in/dgmv5Myt #RealEstate #LeadershipUpdate #DefinedContribution #PREA #AffinityGroups #Investment #CRE

Are you an investor concerned about the impact of oversupply in multifamily properties on total returns? In PREA's latest Quarterly Article, research from Lionstone indicates that while supply plays an important role, long-term rent growth is more closely correlated with household income growth than inventory growth over an investment cycle. Here are some of the key findings: - Forecasting household income growth at metro and neighborhood levels can be a strategic way to position a portfolio for income gains. - Cities with the highest supply often experience the most significant rent growth. - High-barrier markets like New York and San Francisco, with lower supply and rent growth, may not perform as well in the future. As an investor, you should focus on: (1) neighborhood-level income trends, (2) adopting a long-term, granular view, and (3) focusing on household income growth to drive rent growth. Thank you to Hans Nordby of Lionstone Investments for contributing your insights on this important topic. Want to dive even deeper? Check out the full Quarterly Report below. https://lnkd.in/dx5WdrQK #PREA #RealEstateResearch #RealEstate #Research #IndustryLeaders #NewResearch #CRE

Federal funds rate recently cut after a 17-year high. What does this mean for commercial real estate? In PREA's latest Quarterly Article, authors Susan Mello and Mitchell Resnick from Walker & Dunlop discuss how nonbank lenders have stepped in to fill the void left by banks. This means more flexible options for projects that are uncertain or higher-risk. Here is how this helps investors: - As banks tighten lending standards, a financing gap has emerged, allowing private capital to fund projects that might not meet underwriting standards. - More than $2.6 trillion in CRE loans are set to mature in the next 5 years, leading to increased refinancing needs in multifamily. - CRE debt offers compelling risk-adjusted yields, giving investors a more secure position within the capital stack. As the market adapts to this change, it is the perfect time for investors to explore these opportunities and position themselves for growth. Get the full story below. https://lnkd.in/dYGX3kP7 #PREA #RealEstateResearch #RealEstate #Research #IndustryLeaders #NewResearch #CRE

Exciting leadership updates at PREA as we enter the holiday season! We are thrilled to announce that Ani Vartanian, Founder and Managing Partner of Rubicon Point Partners, will be joining Peggy DaSilva from PIMCO Prime Real Estate as the new Co-chair for the Capital Markets Red Affinity Group. Ani brings a wealth of experience and a dynamic personality to the role. As the owner of an emerging manager private equity real estate business, her impressive resume includes positions at the US Department of Treasury, Rockwood, and Goldman Sachs. Ani also holds a bachelor's degree from Stanford and an MBA from Harvard Business School. We look forward to Ani brining her incredible energy and wisdom to the Affinity Group. We also want to extend our heartfelt thanks to Chris Miers from Prime Finance for his years of dedication and success as the Co-chair of the Capital Markets Red Affinity Group. Are you part of an Affinity Group at PREA? If not, it's the perfect time to consider adding it to your 2025 goals! Learn how to join here: https://lnkd.in/dgmv5Myt #RealEstate #LeadershipUpdate #Development #PREA #AffinityGroups #Investment #CRE