James Stull moderated the panel, “The State of Institutional Real Estate: Where Capital is Moving, What's Changing & What's Next Event”, at Commercial Observer's Institutional Investor & Private Equity Forum on 16 September in New York.  The panel explored how investors are adapting to evolving interest rates, changing liquidity dynamics, and recalibrated valuations, while also examining where capital is being deployed across asset classes such as data centers, senior housing, retail, and multifamily. The panel offered valuable perspectives on both the opportunities and challenges facing the market as it continues to evolve.