Insights into the 20-Year Commercial Real Estate Outlook

• Investors can get caught up in the day-to-day noise and fixate on negative news

• Commercial real estate is a long-term investment – Beats S&P 500 over the last ~20 years

• Demographics will drive investment performance over the next 20 years

• Aging Baby Boomers will accelerate MOB and Seniors Housing demand

• Millennials will form families and have children – Potential boon for suburban CRE

• Key considerations: Tax Policy, Behavior Trends and Technology

• A long-term perspective is key to successful real estate investment strategy