CRE values inch higher as bigger deals drive Q2 2026

Omar Eltorai sits down with Mike Amthor, who leads US Performance Evaluation Analytics, and Cole Perry, Associate Director of US Research at Altus Group, to compare the Q2 2026 NCREIF ODCE Index against the Investment and Transactions Quarterly (ITQ) report. Two separate data sets, but a cohesive story: values continue a light upward trend driven by cash flow fundamentals, while transaction dollar volume climbs even as deal count still lags year-over-year. The conversation covers a capital movement from multifamily into industrial, cross-validated strength in storage and medical office, and a caveat on the office recovery narrative.

Key moments

01:55 ODCE Index explained03:27 ITQ data overview04:41 Q2 ODCE headlines06:24 Q2 transactions headlines08:04 Valuations vs deals10:57 ODCE sector trends13:39 Transaction sector trends15:49 Storage and medical office18:50 Market spotlights23:43 New ITQ Metrics28:08 Client pulse and outlook

Resources mentioned

Mike Amthor – https://www.linkedin.com/in/michael-amthor-40865154/ Cole Perry - https://www.linkedin.com/in/coleperry1/ Altus ODCE Index results webinar – https://www.altusgroup.com/webinars/ncreif-odce-index-quarterly-analysis Altus US CRE Investment and Transactions Quarterly report - https://www.altusgroup.com/featured-insights/cre-transactions/