The economic outlook for real estate contains major areas of uncertainty driven by ongoing increases in interest rates and lack of debt and equity capital available, resulting in low liquidity, concerns about refinancing of existing loans and a ‘wait and see’ mode across the industry, according to the new Emerging Trends in Real Estate Global Outlook 2023 report from the Urban Land Institute (ULI) and PwC.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
