Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}
woman working on laptop woman on laptop


Following the Flows

Where Capital Is Headed in 2024

Understanding market dynamics is crucial for investors aiming to maximize returns.

Our latest piece from Global Head of Investor Insights, Abby Corbett, unpacks 2024 transaction types, predicted buyers and sellers, and how the direction of capital flows will impact future investment decisions.   

Explore the questions below or dive deeper into the full report to get a better understanding on how to capitalize on opportunities that may arise during a transitioning real estate market.  

What Types of Activity Are Likely to Drive the Market Throughout 2024? 

Types of activity will take the form of: 

  • Direct asset purchases/sales: In the near-term, this period of illiquidity is affording private capital the opportunity to step into a significantly less competitive market today to directly acquire assets.  
  • Recapitalizations: This period is also offering a significant opportunity for equity to come in and recapitalize assets where existing ownership doesn’t want to part with the asset entirely.  
  • Lender-facilitated note sales: Private equity capital can also come in and purchase the distressed loans/note sales. 
  • Diversification of debt sources: Finally, private debt funds can also step into an illiquid market today and effectively take advantage of the distress throughout the marketplace as opposed to distress of a given asset. 


Where Do You Think We Will See Active Capital Flows on the Sell Side? Who Will Be Sellers?   

  • Owners facing necessity-based conditions who are finally coming to terms with the higher-cost of capital environment.  
  • Sellers facing debt maturities—particularly those that bought at the peak with shorter-term, bridge-loan financing. 
  • ODCE funds and non-traded REITs facing elevated redemption and withdrawal requests.  
  • Even private funds that aren’t experiencing elevated redemptions; they might still decide to meet the market if they are experiencing declining portfolio cash flows and property valuations.   
  • Closed-end funds and separate accounts with assets that have achieved business plans, looking to liquidate and get their promotes. 


Get the latest in Cushman & Wakefield research and commentary in your inbox including Debt Market Talking Points, Multifamily Monthly, Industrial Investment Intuition and more.

Where Do You Think We Will See Active Capital Flows on the Buy Side? Who Will Be Buyers? 

  • Private capital (unlevered) buyers who are seeking to capitalize on this “window” of dislocation. 
  • Investors that are still interested in balancing (and rebalancing) their portfolios into higher-growth or different sectors or markets to ensure diversification.  
  • Investors that recognize downturns, periods of illiquidity and dislocation create attractive vintage years for investment. 
  • Opportunistic and value-add investors who have enough conviction and do not want to wait until there is a clear inflection. 
  • REITs that will continue to exercise their advantageous access (unsecured capital) to grow their portfolios and businesses strategically. 
  • Entity-level merger and acquisition activity.  
  • Private capital buyers active in smaller deals.  
  • Holders of note sales, not just asset sales, because they are likely to drive improvements in price discovery and aid the distress process overall. 


Related Insights

Article • Investment / Capital Markets

Market Matters: Exploring Real Estate Investment Conditions & Trends

Explore current conditions, short-term developments and long-term economic trends so you can better understand their impact on the real estate investing environment.
woman working on laptop
Research • Investment / Capital Markets

Following the Flows

Where Capital Is Headed in 2024
Abby Corbett • 5/15/2024
Multifamily building
Research • Investment / Capital Markets

​​Top Trends Across Cushman & Wakefield’s Multifamily Portfolio​

As one of the largest third-party property managers nationally, with over 182,000 multifamily units managed, Cushman & Wakefield Asset Services data shows unique insights not available through third-party data sources. Utilizing this data, we look back on key trends for the beginning of 2024, with a special look at the units we manage in the build-to-rent space.
Sam Tenenbaum • 4/25/2024

Ready to talk?

Our professionals are ready to provide further details on this and many other topics.

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on  Cookies

More Options
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All