The past few years have certainly been interesting. The optimismthat abounded during the first half of each year was quickly dashedby mid-summer, as job growth slowed and other economic indicatorsposted disappointing or alarming results. At the same time, pricesin most markets are rising and cap rates are dipping as investorsflock to the safety of real estate. For many in the market, it’sbeen a tough time to make decisions.

By now, however, institutional players have come to terms withthe reality that the current situation is one that’s here to stay.It may not be ideal, but for better or worse, this is what recoverylooks like and—like it or not—capital must be put into playand—believe it or not—there are some decent opportunities outthere. At least, that’s what most of the conversation centeredaround during the 16th Annual Transwestern/Real Estate ForumInstitutional Investor Symposium, held this past June at the Top ofthe Hay at the Hay Adams Hotel (check out the view) in Washington,DC. The event brought together decisionmakers from some of thenation’s top institutions for a frank and lively discussion of theenvironment for business.

PANELISTS