The past 18 months have been a wild ride for global real estate markets. The sharp rise in global interest rates over the past year is driving a “great reset” of real estate values. Global repricing is playing out across the board, exacerbated by looming recession risks, making benchmark-driven investing difficult. Global real estate returns will likely remain under pressure over the next 12 months, leaving many investors on the sidelines until the turmoil subsides. With the correction in private markets continuing, REITs offer an attractive entry point and the potential to take listed names private.