While certain real estate segments, like lodging and retail, have struggled during the pandemic, the current spread between direct real estate cap rates and corporate bond yields is well above the historical average.

Melissa Reagen, head of Research at Nuveen, writes for Preqin that this signals real estate's strong relative value. And as the pandemic plays out, she thinks that there will be opportunities to buy real estate assets at attractive prices.

"Agility and insight into tomorrow's world are the two qualities I believe are most critical for managers and investors today," she writes. 

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Leslie Shaver

Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.