Industrial real estate accounted for nearly half of all global real estate fundraising in the first quarter, underscoring the sector's continued appeal to investors even as elevated borrowing costs slow transaction activity.
According to Colliers, industrial captured 47% of global real estate fundraising in Q1 2026, up sharply from 16% in 2025. The figure reflects the significant share of fundraising capital currently targeting industrial and logistics assets.
Industrial's share of global real estate fundraising has fluctuated in recent years, accounting for 31% in 2021, 37% in 2022, 36% in 2023 and 28% in 2024 before declining to 16% in 2025 and rebounding to 47% in the first quarter of this year.
While fundraising remains concentrated in industrial and logistics, deploying that capital has become more challenging.
According to the report, the primary obstacle facing investors is not weakening real estate fundamentals but the higher cost of capital. Rising bond yields, firmer inflation and wider required spreads have complicated underwriting, slowed pricing discovery and extended deal timelines.
"Industrial capital markets continue to show resilience, even as geopolitical risk and higher rates make execution more challenging," said Steig Seaward, senior national director of research, Colliers.
As a result, transaction activity has become more measured despite continued investor interest. The report noted that some deals, particularly in Europe, have been delayed as buyers and sellers reassess pricing expectations and financing conditions.
Even in a more cautious investment environment, industrial remains a preferred destination for capital. Colliers said investment volumes are running ahead of last year across the United States, Europe, the Middle East and Africa, and the Asia-Pacific region, while North America is capturing a growing share of investment activity.
Capital continues to concentrate in Class A logistics facilities, bulk distribution centers and prime infill locations, reflecting an ongoing flight to quality across industrial markets. At the same time, constrained development is helping support pricing. Rising construction costs and limited speculative development have reduced the pipeline of new industrial supply, creating a more favorable backdrop for existing assets.
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