AFIRE Summit Journal

The rapid expansion of cloud computing and artificial intelligence is driving one of the largest digital infrastructure investment cycles in modern economic history. As hyperscale technology companies accelerate capital expenditures to support growing compute demand, the US data center market is experiencing historically tight supply conditions, rapid geographic expansion, and increasing institutional investor interest.

AFIRE invites global thought leaders and experts in commercial real estate to contribute to the forthcoming Issue #22 of Summit Journal, to be released in September 2026 in conjunction with the AFIRE Annual Member Meeting in New York. Proposals are due Friday, July 10.

US CRE markets entered 2026 in a transitional phase marked by improving liquidity, moderating inflation and persistent rate-driven volatility. The rapid repricing cycle triggered by aggressive monetary tightening appears largely complete, but a valuation recovery remains sensitive to long-term interest rate movements and capital market conditions. (Note: This article was originally published by the NAIOP Research Foundation as the first edition of a recurring report on March 26, 2026.

(Click to view full digital issue in new tab) As the publisher and editor of AFIRE’s growing suite of thought leadership in commercial real estate, we are pleased to present this very special Issue #21 of Summit Journal—the inaugural AFIRE Compendium.

Recent CRE capital flows have declined significantly due to heightened interest rates, market uncertainty fueled by trade tariffs, and US governance challenges. What does this mean for the dynamics of capital flows into the US? RXR Recent commercial real estate (CRE) capital flows have declined significantly due to heightened interest rates, market uncertainty fueled by trade tariffs and varying states of US government functionality, among other factors.

There has been a longstanding perception that an investment in affordable housing could not generate alpha, but over the past few years new economic and demographic forces are turning a social challenge into a compelling institutional opportunity. RXR For many institutional investors, it has been a longstanding perception that an investment in affordable housing in the United States could not generate alpha.

Build-to-rent (BTR) is emerging as an important segment in the US housing market, offering purpose-built rental communities designed for longer-term occupancy while providing renters with a new, professionally managed alternative to conventional housing options.

Following AFIRE’s announcement earlier this year claiming three new awards for the association’s Summit Journal, AFIRE is pleased to add to more wins to its growing awards roster, including 2026 Platinum Award from the Hermes Creative Awards, and a Jess H. Neal Award, both for leadership in association publications.

Amid an extended period of uncertainty, mission-critical triple-net lease (NNN) investing has emerged as a compelling strategy, offering predictable income, contractual rent escalations, and insulation from expense inflation. Persistent inflation has challenged institutional investors across asset classes. Fixed-income returns have been eroded, equities have become more volatile, and many real estate sectors are struggling with rising operating costs.

There’s a quiet revolution underway in on-site solar and batteries. What is it and why should commercial real estate investors should pay attention? When most commercial real estate investors think about on-site solar and batteries, they typically think about offsetting electric utility expense at a property. Historically, the “split-incentive challenge,” whereby tenants own their legal and financial relationship with a utility, has hindered the widespread deployment of solar.