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Capital rotation, real assets, and a new era for CRE deals
Description
Capital is rotating, the line between real estate and infrastructure is blurring, and the deals getting done today look different from those of even three years ago. In this episode of CRE Exchange, Omar Eltorai sits down with Tim Bodner, who leads PwC's US and global real estate deals practice, to discuss the firm's 2026 midyear CRE outlook. They cover the real assets convergence thesis, why operational prowess is replacing cap rate compression as the primary value driver, where REIT consolidation goes from here, and how private capital is redefining the dealmaking landscape.
Key moments
- 02:10 Midyear outlook key shifts
- 03:35 Real assets convergence
- 07:18 Operating prowess and AI
- 09:07 VCs owning hard assets
- 10:56 Where AI gets used today
- 13:50 Industry bifurcation and new entrants
- 18:09 REIT discounts and consolidation
- 24:26 Private capital and capital solutions
- 28:27 Themes for the back half of 2026
- 29:51 Policy uncertainty and data centers
- 31:06 Lightning round and wrap
Resources mentioned
Tim Bodner - https://www.linkedin.com/in/timbodner/
Navigating the capital rotation and AI-driven convergence reshaping real estate and real assets dealmaking - https://www.pwc.com/us/en/industries/financial-services/library/asset-wealth-management-real-estate-deals-outlook.html