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A return to work could lead to a new lease of life for these properties, which have been falling out of favour with lenders.
Inflation fears are back but mitigating forces should not be underestimated, says Jose Luis Pellicer, head of investment strategy and research at M&G Real Estate.
US real estate owners are addressing capital constraints by adding new debt.
Investors committed around $5bn of capital to Blackstone Real Estate Debt Strategies IV after the end of Q1 2020.
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