Streaming Income - A Podcast from Barings

2026 Outlook: Global Real Estate (Live from Barings 360)

Dec 1, 2025

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Join industry experts Nasir Alamgir, Alex Gilbert, Nick Pink, and Mike Flynn as they explore the future of global real estate heading into 2026. They discuss the growing importance of micro-market analysis and how it leads to a stock-pickers market. Hear insights on the U.S. strategy focused on sectors like industrial and office, and discover Japan's unique real estate dynamics. With demographic trends bolstering healthcare demand and emerging opportunities in alternatives like self-storage, this conversation is a treasure trove for real estate enthusiasts.

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INSIGHT

Banks Created A Multi‑Year Maturity Challenge

Bank balance-sheet constraints created a large, multi-year CMBS maturity wall that private capital must fill.
Real estate is now a stock‑picker market requiring micro‑market, block‑by‑block analysis.

ADVICE

Act Now Where Supply Supports Rent Growth

Don't wait for a perfect cyclical turn; act where fundamentals and supply support rental growth.
Focus on assets with structural supply constraints to capture above‑trend rent growth.

ADVICE

Do Local Work For Industrial Plays

Focus on local fundamentals when evaluating industrial assets, not just sector headlines.
Buy well‑leased industrial assets with 10–30% mark‑to‑market upside to get positive leverage.

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Where are global real estate markets headed in 2026? Watch our 2026 Global Real Estate Outlook panel to find out.

With expert guests, including:

Nasir Alamgir – Head of US & European Real Estate Debt
Alex Gilbert – Co-CEO of Artemis, a Barings Company
Nick Pink – Head of European Real Estate Equity
Mike Flynn – Head of Japan Real Estate

Moderated by Co-Head of Global Investments, David Mihalick

Episode Segments:

(01:00) – Introductions

(03:30) – The fundamental backdrop for RE debt

(08:55) – The European landscape

(11:40) – Opportunities in US equity

(15:20) – How APAC real estate stacks up today

(20:42) – Why 2026 may be a “stock pickers” market

(24:47) – Zooming in on the office sector

(29:16) – Demographics as a structural driver

(32:35) – Areas of opportunity in APAC

(35:24) – Opportunities across sectors & risk profiles

(40:49) – Affordability & the cost of development

(43:30) – Bold predictions for 2026

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IMPORTANT INFORMATION

Any forecasts in this podcast are based upon Barings’ opinion of the market at the date of preparation and are subject to change without notice, dependent upon many factors. Any prediction, projection or forecast is not necessarily indicative of the future or likely performance. Investment involves risk. The value of any investments and any income generated may go down as well as up and is not guaranteed. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Any examples set forth in this podcast are provided for illustrative purposes only and are not indicative of any future investment results or investments. The composition, size of, and risks associated with an investment may differ substantially from any examples set forth in this podcast. No representation is made that an investment will be profitable or will not incur losses.

Barings is the brand name for the worldwide asset management and associated businesses of Barings LLC and its global affiliates. Barings Securities LLC, Barings (U.K.) Limited, Barings Global Advisers Limited, Barings Australia Pty Ltd, Barings Japan Limited, Barings Real Estate Advisers Europe Finance LLP, BREAE AIFM LLP, Baring Asset Management Limited, Baring International Investment Limited, Baring Fund Managers Limited, Baring International Fund Managers (Ireland) Limited, Baring Asset Management (Asia) Limited, Baring SICE (Taiwan) Limited, Baring Asset Management Switzerland Sarl, and Baring Asset Management Korea Limited each are affiliated financial service companies owned by Barings LLC (each, individually, an “Affiliate”).

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Unless otherwise mentioned, the views contained in this podcast are those of Barings and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. Parts of this podcast may be based on information received from sources we believe to be reliable. Although every effort is taken to ensure that the information contained in this podcast is accurate, Barings makes no representation or warranty, express or implied, regarding the accuracy, completeness or adequacy of the information

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