Multifamily and warehouses, which have fared the best of most property types thus far through a gale storm worth of headwinds in the commercial real estate asset class, could be in for a rocky trip. 

Industry insiders expect returns for both sectors to fall this year as a result of oversupply and slowing rent increases. Apartments are predicted to be among the lowest returning of the four main property types in 2024 at -1.7%, with industrial  expected to produce a 0.7% return in 2024, according to the latest Pension Real Estate Association Consensus Forecast survey. Office is the lowest with a -6.3% expected return in 2024 and retail is expected to be the highest-returning sector at 2.9%, the survey results show. 

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