All About Alpha talks about the drop off in fund raising for real estate. The data presented is from larger funds, which are attracting commitments from institutional investors.
From sale of my template, both here and at TransCaptialPro, it seems to me that there is activity with smaller funds, say under $50MM. It could be that smaller funds will by nature be more local/regional, with non-institutional investors finding comfort in being able to visit their investments. I also wonder if there is a sense that starting with a clean sheet of paper, investors don’t have to worry about surprises in the portfolio.