In an exclusive interview on The PERE Podcast, the $60bn market cap REIT’s CEO explains why private fundraising will now fuel the listed property specialist's growth plans.
With its latest fund, the firm has pivoted from a focus on ground-up development to buying and upgrading operating assets as return propositions have shifted.
The vehicles are the largest in their respective fund series, with US XI also representing the firm’s largest-ever capital haul for a closed-end real estate fund.
The vehicle is more than five times the size of its predecessor, and will be invested in triple-net lease industrial and logistics assets across Western Europe.
The Kansas City-based industrial specialist sees a ‘generational buying opportunity’ from forced sellers for its seventh vehicle.
As liquidity gradually returns to private real estate, much of the proceeds are not flowing back to where they came from, PERE heard at MIPIM.
The investor is one of three Australian superannuation funds that committed $330m to the vehicle’s latest round of fundraising.
The initiative marks the New York-based firm’s push into raising and deploying private wealth capital in core-plus real estate.
Capital targeted by private real estate funds in January 2026 has reduced compared with one year prior, but the count of funds keeps rising.
Morgan Stanley’s real estate investment management business has raised almost 75% of the capital targeted for the latest iteration of its long-standing global opportunity fund series.