StepStone Group- Mon, 08/24/2026 - 19:05

RPM Ep. 62 | 2H26 Real Estate House Views

Current real estate pricing seems to be near the bottom of the cycle, creating a compelling entry point for investment. There is dislocation and pressure to sell certain assets. While macro uncertainty is high, we are cautiously optimistic about property fundamentals.

In our latest episode of RPM, Jeff Giller, Partner and Head of Real Estate, and Margaret McKnight, Partner and Head of Portfolio Solutions, rejoin co-host Maribel Yoo to discuss our 2H26 house views on the state of the real estate market.

Preferred strategies include:

Quality assets with in-place, durable income
Core+ and value-add strategies for income with upside
Recapitalization and distress buying opportunities for outsized return potential (still leaning core+ and value-add)
Debt strategies for income and defensive posturing

In this environment, it’s important to remember that real estate may provide significant benefits to investment portfolios. Historically, it has provided useful protection from inflationary shocks. We believe that its low correlation with the equity markets means it may deliver meaningful diversification.

Read the transcript here.

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Contacts

StepStone Group

StepStone Group (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

W. Casey Gildea
Managing Director casey.gildea@stepstonegroup.com
+1.212.351.6114

277 Park Ave, 45th Floor
New York, NY 10172

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