Blackstone’s $336 billion in investor capital as of the second quarter of 2024 positions it among the largest real estate investors globally. The firm's investment strategy is distinctively thematic, focusing on assets within sectors that are experiencing structural shortages and are supported by strong macroeconomic tailwinds. Approximately 80% of Blackstone's real estate portfolio is diversified across five key areas: logistics, residential, hospitality & leisure, data centres and life sciences.

In 2023 and 2024, Corporación Inmobiliaria Vesta (Vesta) made significant strides within Latin America’s real estate market, particularly in the logistics and industrial domains. Vesta’s strategic expansion has been fuelled by high demand from e-commerce, manufacturing and logistics industries, leading the company to focus on industrial parks across Mexico in high-demand regions. By maintaining occupancy rates in stabilized properties at nearly 98%, Vesta has achieved robust leasing success that underscores its strong market positioning.

With nearly 30 years of experience, Red Megacentro has established itself as a leading industrial real estate developer in Latin America, specializing in warehouse and self-storage rentals. The company manages over 20.5 million sq ft of gross leasable area (GLA) across more than 60 locations in Chile, Peru and the US, offering state-of-the-art facilities that cater to a diverse range of tenant needs. Red Megacentro’s core mission is to provide space for businesses to grow and succeed, supported by innovative design and exceptional service.

During the review period, Blackstone concentrated its North American real estate strategy on high-demand asset classes, with a particular emphasis on multi-family residential rentals, industrial properties, and data centres. Through its Blackstone Real Estate Income Trust (BREIT), Blackstone’s portfolio has grown significantly and has maintained a high occupancy rate, at approximately 94%, and steady returns, underlining its successful strategy of focusing on stabilized, income-generating assets.

CBRE was the largest global commercial real estate services and investment firm by revenue in 2023, operating an extensive workforce of over 130,000 employees across more than 100 countries.

Prologis has expanded its logistics infrastructure, both domestically and overseas, through a series of new developments and investments in existing projects. The firm has also demonstrated innovation in sustainable practices and advanced automation, underscoring its adaptability to market trends.

Blackstone continues to expand its footprint in the Asia market, riding on its solutions capabilities across sales, investors and marketing in Asia.

Colliers has shown extensive influence and market leadership across this dynamic region during the review period. The firm’s significant achievements in the Nordics and Baltics showcase its commitment to providing comprehensive real estate services, driving industry innovation, and promoting sustainability.

United Real Estate Company (URC) has demonstrated tangible improvements in profitability, thanks to strong performance in its existing portfolio.

BTG Pactual Asset Management produced a strong set of results over the review period to show its leadership in the Latin American real estate financial industry, demonstrating strength across a wide range of services and products. As one of the largest investment banks in the region, BTG Pactual offers comprehensive market solutions, including market making, brokerage, derivatives trading, insurance and reinsurance services.

BTG Pactual achieved strong financial performance in the latest fiscal year, with total revenues reaching R$6.0 billion, reflecting a robust 10% year-on-year growth. Adjusted net income rose to R$2.9 billion, a 15% increase year-on-year, underscoring BTG's continued financial health and growth trajectory. This success highlights BTG Pactual’s position as a leading bank in Latin America’s high-growth real estate sector.

Prologis has developed new logistics spaces across North America, enhancing supply chain efficiency and supporting the burgeoning e-commerce landscape.

With strong strategic initiatives and remarkable deals, the real estate income of DBS has been growing despite market challenges.

A leading developer of grade A industrial and logistics real estate, IndoSpace, backed by Everstone Group, has a 52% market share in India’s top eight markets and is still expanding in this fastest-growing large economy.

With €111 billion in real estate assets under management across Europe, AXA IM Alts ranks as the largest property investment manager in Europe.

Soudah Development Company is a Saudi real estate business established by the Kingdom’s Public Investment Fund in 2021, to transform Soudah and parts of Rijal Almaa in the Asir region of Saudi Arabia into a luxury mountain destination.

BNP Paribas showcased meaningful growth in real estate, especially in its CEE operations.

Cushman & Wakefield has demonstrated robust financial performance and operational expertise over the review period that made it Latin America’s strongest real estate adviser.

JLL's advisory services in North America saw major achievements across 2023 and 2024, solidifying its reputation for market leadership. The firm supported strategic commercial real estate transitions, notably through data centre investments addressing heightened demand from AI and cloud sectors amid power and space shortages. In addition, JLL's valuation advisory expanded in healthcare and other specialized sectors, helping clients navigate complex market landscapes with data-driven insights.

Blackstone’s outstanding achievements in portfolio management, strategic acquisitions, and commitment to sustainability across the region over the review period made it the strongest real estate investment manager in the region.

AXA IM Alts' real estate division stood out from competitors during the review period due to its commitment to growth through a diversified global portfolio, innovative strategies and a deep integration of ESG principles.

Newmark has demonstrated robust growth and resilience within its commercial real estate services.

Colliers’ performance during the review period was underpinned by significant growth in high-value recurring service lines such as outsourcing, advisory and investment management.

Fabrix is as a vertically integrated real estate investment platform. It focuses on breathing new life into overlooked urban spaces by employing innovation in finance, tech and architecture. Perhaps most importantly, the company’s projects serve as a blueprint for sustainable development.

Grit Real Estate Income Group is a pan-African real-estate company with a portfolio of assets across the region.

Headquartered in Kuwait, United Real Estate Company operates through a number of operating subsidiaries and investment arms across the Middle East and North Africa region.

Link Real Estate Investment Trust demonstrated a commitment to growth and sustainability during the research period, while making intelligent, strategic deals in a challenging period for the sector.

Nordea Bank posted a larger than expected increase operating profit in the second quarter of 2023, to €1.72 billion, an increase of 26% year on year. Net interest income grew by 40% to €1.83 billion.

With its pan-European team of 45 people in seven countries in continental Europe, including Belgium, France, Germany, Netherlands and the UK, BNP Paribas combines regional coverage with local expertise.

Unibail-Rodamco-Westfield (URW) operates 74 shopping centres in 12 countries, 39 of which carry the Westfield brand. Its centres attract more than 900 million visitors annually and provide a platform for a range of retailers and brands.