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Private Real Estate Daily

from Private Wealth Daily

The edition as it went to readers: 5 stories.

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The lead

PGIM Real Estate puts US investors' international allocation sweet spot at 10-15%

Domestic targets have climbed to 70-80% from 66% in the back half of the last cycle, according to the manager's European research head.

Sectors

Gas station buyers hold firm as war in Iran lifts fuel prices

Convenience store cap rates averaged 5.63% in the second quarter of 2026, the tightest of 17 net lease sectors tracked by B&E.

Fundraising

Blue Owl secures close to $8bn net-lease fund as public pensions commit

The raise is the largest described in the IPE Real Assets briefing, which also has JP Morgan Asset Management above $1bn for a debut net-lease fund and three US public pension systems named as investors.

Deals

Faris Lee arranges $38.7 million sale of Lakewood Center's Home Depot and Albertsons parcels

A high-net-worth family office buys the 14.7 acres under a Home Depot and an Albertsons, both on below-market ground leases.

Real estate debt

The 10-year hits 5.3%, highest since 2002, and CRE lenders expect values to fall

At Bisnow's National Commercial Real Estate Finance Event, investors and lenders said deals that penciled a month ago may no longer work at today's yields.

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