In this episode of The Distribution, host Brandon Sedloff welcomes back Sabina Reeves, Chief Economist and Head of Insights at CBRE Investment Management, for a global tour of the forces reshaping capital flows, investment strategy, and real estate allocation in 2025.
Sabina breaks down how macroeconomic shocks, geopolitical realignment, and inflationary pressures are driving a new phase of regional divergence. She explains how allocators are recalibrating their assumptions across the U.S., Europe, and Asia-Pacific, and why fundamentals alone are no longer enough to make allocation decisions. The conversation spans real estate, infrastructure, and private markets—with an emphasis on nuance, context, and long-term thinking.
Key topics include:
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Why Europe is showing signs of economic reflation, led by Germany and Spain
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Japan’s investment appeal as it exits decades of deflation
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How the U.S. is grappling with stagflation risk and pricing in a new risk premium
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The bifurcation between modern and legacy logistics and its implications for asset values
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Real-time insights into sectors like retail, residential, office, and data centers
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How AI is accelerating “corporate ozempic” and reshaping operational headcount and capital deployment
Sabina also shares her perspective on how institutional investors are (and aren’t) adapting to technological transformation, the evolving role of data in decision-making, and what it will take for the real estate industry to match the sophistication of the tenants it serves.
This conversation is a must-listen for anyone allocating capital, building real assets strategies, or trying to understand what’s next in an increasingly complex global market.
Links:
CBRE Investment Management - https://www.cbreim.com/
Sabina on LinkedIn - https://www.linkedin.com/in/sabina-reeves-frics-frsa-0a2b13a/
Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/
Juniper Square - https://www.junipersquare.com/
Topics:
(00:00:00) - Intro
(00:02:25) - The state of markets in 2025
(00:03:49) - Risk premiums
(00:05:02) - North American, European, and Asian market performances
(00:07:42) - Economic recoveries in Europe
(00:10:20) - Spain as a growingly investable market
(00:12:10) - Who are the winners and losers in global supply chains being upended due to the American tariffs?
(00:14:11) - Are there any developing sectors you’re seeing?
(00:16:11) - Thoughts on the Chinese market
(00:18:48) - The Japanese market
(00:22:02) - Australia
(00:23:19) - India
(00:24:23) - Canada & the United States
(00:31:51) - Retail is back in favor
(00:37:22) - Leisure and Hospitality performance
(00:38:59) - Industrial performance
(00:41:28) - Office
(00:43:39) - Residential
(00:46:52) - AI advancements
(00:50:26) - Corporate Ozempic
(00:53:05) - Data advantages
