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Most commercial real estate investors plan to increase acquisitions in 2026, supported by ample capital and improving rate clarity. The main constraint remains pricing alignment, not liquidity, with investors focused on assets that offer durable cash flow and defensible underwriting.
➤ SIGNAL
A newly released investor intentions survey by CBRE indicates that 74–75% of respondents expect to increase their commercial real estate acquisition activity in 2026, while approximately 21% plan to keep activity flat. Fewer than 5% anticipate a reduction in buying.
The survey reflects sentiment across institutional investors, private equity firms, family offices, and global real asset managers. Respondents cited improved clarity around interest rates, stabilizing valuations, and substantial unallocated capital as drivers behind the expected increase in activity.
CBRE estimates that global commercial real estate investment volume could rise by approximately 16% year-over-year, supported by an estimated $1.5 trillion of dry powder currently held by alternative asset managers.
The survey does not suggest indiscriminate buying or a return to peak-cycle behavior. Instead, it highlights a growing willingness to transact once pricing aligns with underwriting assumptions.
Investors continue to emphasize:
Stabilized or near-stabilized assets
Clear income durability
Conservative exit assumptions
Markets with visible demand drivers rather than speculative growth
Multifamily and industrial assets remain the most consistently favored sectors, while office continues to face selective underwriting and reduced liquidity. Hospitality and alternative sectors show growing interest, but primarily in operationally resilient formats.
Importantly, while acquisition appetite is rising, seller expectations have not moved at the same pace. Less than half of survey respondents expect an increase in asset dispositions, which could limit transaction volume if bid-ask spreads persist.Signal 3: Construction Pipeline Collapse Sets Up 2027 Undersupply
Key Highlights
This data reinforces that the constraint in today’s CRE market is pricing, not capital. Buyers are present, funded, and actively underwriting, but discipline remains intact. Transactions will continue to concentrate around assets where cash flow, basis, and operational risk can be clearly justified.
For operators, developers, and sellers, the implication is straightforward: deals clear when underwriting is defensible, not when narratives are compelling. Markets with transparent fundamentals and realistic valuations will see liquidity first.
CRE360.ai — Daily Signals & Commercial Real Estate Intelligence
Part of the 2025 Year-End Intelligence Series.
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