Pension funds have been following a clear path of increasing allocations to real estate over the past several years. Despite signs of a maturing market cycle, it appears that most institutions are likely to maintain that same course in 2017.
In past down cycles, institutions have become a bit skittish about real estate and pulled back on allocations. This time, there has been a bigger move towards real estate, says Greg MacKinnon, director of research with Pension Real Estate Association (PREA).
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