Ross Prindle, managing director and global practice leader of the Real Estate Advisory Group at Kroll, sat down for a video interview during Nareit’s REITwise: 2025 Law, Accounting & Finance Conference in San Antonio on March 25-27.
Prindle shared his insights on the current state of the REIT industry. He described 2025 so far as a continuation of a cautious, asset-focused trend, with firms prioritizing optimization over acquisitions.
"The transaction activity is significantly down still," Prindle noted, pointing to the combined effects of high interest rates, inflation, and global political tensions. "I think folks are waiting around for a little bit more stability in the marketplace."
Looking ahead, he emphasized that office REITs continue to face challenges from hybrid work trends, but other sectors—like retail, industrial, and multifamily—are seeing signs of strength. Multifamily, in particular, is stabilizing after a construction surge, with more units being absorbed and rents rising.
Prindle expressed cautious optimism, stating that once interest rate and inflation environments stabilize, REITs could see a return to stronger transactional activity and improved returns.