Lauren Hochfelder, Co-CEO of Morgan Stanley Real Estate Investing joined Bloomberg The Close to discuss key drivers for real estate in 2025, particularly aging demographics and supply chain.

“I think 2025 and 2026 will be a fabulous vintage for private real estate. It is our job to generate returns through cycles regardless, but the best performance comes in periods of recovery… [This recovery cycle] we think it is about cash flow growth, which means that you need to be in sectors and markets that are propelled by long-term megatrends, more durable drivers of demand.”