Video—09.03.2026

Private Real Estate Investing

​​​​​​At $26 trillion, U.S. commercial real estate is the third-largest asset class, with ~90% held outside publicly traded REITs, highlighting the scale of the private real estate market.

Hear from Managing Director Rick Schaupp as he breaks down the fundamentals of private real estate and explores the role it can play in an investment portfolio.

​​Read our What Is Private Real Estate Investing? Overview ​to learn more.

Video Transcript

Welcome to Clarion Calls, a series designed to help you navigate the world of private real estate (PRE).

This week, we will focus on introducing PRE as a potential investment.

When most people think about investing, they think stocks, bonds, or maybe publicly traded REITs.

But there's another major asset class people interact with every day, yet know very little about as an actual investment ​ it's private real estate.

Here's why it matters.

Commercial real estate is worth trillions of dollars — the third largest investable market in the United States today.

Roughly 90% of the U.S. real estate market is privately held and sits outside the public REIT market.

What does that mean?

A closer connection to real estate ownership, rather than shares of publicly traded real estate companies.

Industrial warehouses powering e-commerce, apartment communities providing housing, necessity retail serving local communities, and healthcare buildings supporting an aging population.

Unlike stocks, which trade every second of the day, private real estate is a longer-term investment, built on the income and value of the properties themselves.

That creates two ways investors can benefit:

Rental income from tenants, and appreciation as property values grow. There's also diversification.

Real estate is driven by occupancy, rents, demographics, and local supply and demand — factors that often move independently of stocks and bonds.

For investors looking for income, diversification, and real asset exposure, private real estate opens the door to a significant market that many investors never access.

It's not just another alternative investment. It's one of the largest asset classes in the world.

Follow Clarion Partners on LinkedIn and YouTube — we'll keep breaking down private real estate, one theme at a time.

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Investment in real estate is speculative and involves significant risk. For more information about certain of the material risks and limitations associated with Clarion Partners’ investment advisory products, strategies and services, please see Clarion’s current Form ADV Part 2A brochure, which is available on the SEC’s Investment Adviser Public Disclosure website at https://adviserinfo.sec.gov/firm/summary/108803. Investors should consider their investment objectives, and it is strongly suggested that the reader seek his or her own independent advice in relation to any investment, financial, legal, tax, accounting or regulatory risks and evaluate their own risk tolerance before investing.

This material does not constitute investment advice, nor does it constitute an offer in any product or strategy offered by Clarion Partners LLC or Clarion Partners Europe, and should not be viewed as a current or past recommendation to buy or sell any securities. Any specific investment referenced may or may not be held in a Clarion Partners client account. It should not be assumed that any investment, in any property or other asset, was or will be profitable.

All Clarion Partners LLC and Clarion Partners Europe statistics, data and charts, including but not limited to assets under management (AUM), ESG data, sector data and property data, as well as data related to our investors, tenants and employees, are as of June 30, 2026 unless otherwise noted.

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