PIMCO has launched a new flexible real estate fund to address what its managing director and group investment officer Dan Ivascyn said are "some of the most attractive investment opportunities in more than a decade" based on the "extraordinary re-pricing of assets across financial markets this year."

Speaking on behalf of PIMCO's investment committee, Ivascyn said that "higher yields and lower valuations in both public and private markets make for an attractive environment for patient investors ready to deploy funds in a flexible vehicle that can allocate investments across commercial real estate."

The PIMCO Flexible Real Estate Income Fund (REFLX) is the firm's first real estate-focused interval fund. It will invest in private equity by acquiring stabilized, income-oriented CRE; private real estate loans; public debt such as commercial mortgaged-backed securities, and public equity such as REITs.