Why consider global real estate?

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Disclosures

This marketing communication is intended only for Professional Clients in Continental Europe (as defined in the important information), Dubai, Guernsey, Jersey, Ireland, Isle of Man and the UK; for Sophisticated or Professional Investors in Australia; for Institutional Investors in the United States; for Institutional Investors and/or Accredited Investors in Singapore; for Qualified Clients/Sophisticated Investors in Israel; for Professional Investors in Hong Kong; for Qualified Institutional Investors in Japan; for certain specific Qualified Institutions and/or Sophisticated Investors only in Taiwan; for Wholesale Investors (as defined in the Financial Markets Conduct Act) in New Zealand, for Qualified Professional Investors in the Republic of Korea; for certain specific sovereign wealth funds and/or Qualified Domestic Institutional Investors approved by local regulators only in the People’s Republic of China; for Qualified Institutional Investors and/or certain specific Institutional Investors in Thailand; for certain specific institutional investors in Brunei and Indonesia, for Qualified Buyers in the Philippines for informational purposes only; for certain specific institutional investors in Malaysia upon request. In Canada this document is for use by investors who are (i) Accredited Investors and (ii) Permitted Clients, as defined under National Instrument 45 106 and National Instrument 31 103, respectively. It is not intended for and should not be distributed to, or relied upon, by the public or retail investors. Please do not redistribute.

Investment risks

The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested. Property and land can be illiquid and difficult to sell, so the fund may not be able to sell such investments when desired and at the intended price.  The value of property is generally a matter of an independent valuer’s opinion and may not be realised.

Speaker: Tracey Luke, Managing Director Invesco Real State

01: Why Global Real Estate?

Speaker:

Well, real estate isn't just about buildings. It's a pillar of a well constructed multi-asset class portfolio.

On screen graphic image at 0:24:

A circular diagram titled “Multi-asset portfolio”. Around the circle are six categories: Public fixed income, Cash, Real assets, Private credit, Private equity, and Public equities.

Text featured below the graphic image: (1) Invesco Real Estate using data from MSCI as of June 30, 2025. (2) MSCI, Bloomberg and FTSE EPRA/NAREIT Index as of September 30, 2025. Correlations were calculated using the longest available common time period from 1Q 2008 through 3Q 2025

Speaker:

It offers a combination of income, stability and long-term growth potential, while also remaining lowly correlated with equities and bonds, enhancing diversification in your portfolio. Global real estate has historically shown characteristics that could support portfolio resilience during periods of uncertainty as well.

Global real estate also makes up the largest private markets asset class, with an estimated value of around $35 trillion.

Speaker:

This is significantly larger than private equity and private credit combined. It's also one of the oldest asset classes, and it's constantly evolving to meet changing societal and economic needs.

Global markets open doors to sectors, geographies and strategies that just simply aren't available domestically.

1:03 On screen graphic image: A world map highlighting the USA, Australia, several western and central European countries, China, Japan, and South Korea

Speaker:

This can potentially expand income and appreciation in your portfolio as well. Today's valuations suggest an attractive entry point, with 2026 having the potential to be a strong vintage year. As capital markets trend towards stability, we expect transaction volumes to pick up, bringing price recovery along with them.

02: Why Global Matters and Why Now?

Speaker:

Real estate adapts to demographic and economic shifts.

1:36 On screen graphic: a circle with different real estate drivers and sectors

Speaker:

People always need places to consume, live, work, connect. But where we do so changes as trends shift. Looking globally means access to high growth sectors such as European urban logistics, Asian senior living and US healthcare real estate opportunities that typically are very locally specific.

Real estate is constantly evolving with societal, economic and political changes which don't happen uniformly across the world. This is why a global perspective matters.

03: What are the Key Drivers of Global Real Estate Trends

Speaker:

Well, first I point to demographics. Aging populations are driving demand for senior living globally, most notably in Asia Pacific. While urbanization is fueling housing needs in emerging markets.

Second, technology. The rise of cloud computing and AI creates demand for data centers globally. However, the relative pricing across markets means that attractive private real estate opportunities may be limited to very specific locations.

Another example is health care. Growth in medical office and research facilities in the US, where a large proportion of health care is provided in privately held buildings, offers opportunities for many investors beyond their domestic borders.

Lastly, political and policy dynamics are very key to today's real estate trends. Geopolitical tensions, trade policies, and regulatory environments influence where capital flows and which sectors thrive. Regions with stable governance and pro-business policies offer attractive, stronger investment opportunities, as evidenced by JLL’s Global Transparency Index report.

3:15 On screen image showing JLL’s Global Transparency report

Speaker:
The ability to align portfolios with evolving trends and navigate political realities worldwide is a key reason global real estate can enhance both diversification and growth potential.

04: Why now?

Real estate is a long term asset class. It's underpinned by consistent income streams. And as such, a multi year view should be adopted by investors. That said, we believe 2026 represents a particularly interesting time to enter the market, as valuations have rebased across the regions and transaction volumes are recovering. Historically, periods following market corrections have delivered strong performance. Long term investors in real estate have weathered previous downturns while maintaining strong five year returns. This resilience, combined with today's attractive entry point, makes now an opportune time to allocate to global real estate.

05: Why Invesco?

Invesco’s global real estate team, which is located in 21 offices around the globe, allows us to follow a top down, secular, trend driven investment thematics, including demographic changes, urbanization, technology and innovation.

4:10 On screen image: a world map featuring where Invesco has offices as well as some highlights about Invesco such as: 600 deep and experienced team of over 600 real estate focused professionals, Our platform has 40+ years of investing experience, 21 office locations across North America, Europe, and Asia, We are proudly ranked one of the top 15 real estate managers.

Source: Invesco Real Estate. Institutional Real Estate, Inc. Real Estate Managers Guide 2025 (May 29, 2025, latest available) report ranked IRE in the top 15 real estate managers by total gross value of real estate AUM. Invesco pays a standard subscription fee to obtain these third-party rankings. Any reference to a ranking provides no guarantee for future performance results and is not constant over time.”

Speaker:

But then to apply those thematics most appropriately for local market conditions. This approach allows us to build compelling developed market portfolios based on a mix of sectors and property types across the globe. By aligning with long term structural trends, we seek to capture opportunities where they are most pronounced, rather than being limited to what's available locally.

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This marketing communication is intended only for Professional Clients in Continental Europe (as defined below), Dubai, Guernsey, Jersey, Ireland, Isle of Man and the UK; for Sophisticated or Professional Investors in Australia; for Institutional Investors in the United States; for Institutional Investors and/or Accredited Investors in Singapore; for Qualified Clients/Sophisticated Investors in Israel; for Professional Investors in Hong Kong; for Qualified Institutional Investors in Japan; for certain specific Qualified Institutions and/or Sophisticated Investors only in Taiwan; for Wholesale Investors (as defined in the Financial Markets Conduct Act) in New Zealand, for Qualified Professional Investors in the Republic of Korea; for certain specific sovereign wealth funds and/or Qualified Domestic Institutional Investors approved by local regulators only in the People’s Republic of China; for Qualified Institutional Investors and/or certain specific Institutional Investors in Thailand; for certain specific institutional investors in Brunei and Indonesia, for Qualified Buyers in the Philippines for informational purposes only; for certain specific institutional investors in Malaysia upon request. In Canada this document is for use by investors who are (i) Accredited Investors and (ii) Permitted Clients, as defined under National Instrument 45 106 and National Instrument 31 103, respectively. It is not intended for and should not be distributed to, or relied upon, by the public or retail investors. Please do not redistribute.

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