Over the trailing year, investment volumes for income-producing property totaled $79o billion across the U.s., Europe and Asia Pacific, which was a 12% increase relative to the same period last year - a 22% uplift in the U.s., 8% uplift in Europe, and down 1% in Asia Pacific. Volumes have been growing on a year-over-year basis for five quarters. Pricing is below 2o19 levels and has stabilized, marking an attractive entry point. Investment volume (USD B, TTM), 19Q1 - 25Q4 provides a bette like-for-like comparison. OPINIONPIECE. PLEASE SEEIMPORTANT DISCLOSURES IN THE ENDNOTES.