Real Estate's Reset: Where Almanac Sees Stress and Opportunity

Real Estate's Reset: Where Almanac Sees Stress and Opportunity

From Disruptive Forces in Investing by Neuberger Berman

February 10, 2026 · 28 min

About this episode

The episode discusses the current state of real estate investing amidst market challenges and opportunities.

Real estate has gone through a painful reset—higher rates, lower values, and slower deal activity have pressured fundraising, distributions, and exit timelines. But for investors who provide flexible, platform-level capital, dislocation can create attractive entry points. Meanwhile, AI and data centers are reshaping demand, housing affordability remains a structural challenge, and the office segment is still under strain. On this episode of Disruptive Forces , host Anu Rajakumar speaks with David Haltiner, Managing Director at Neuberger's Almanac Realty Investors, which is marking 30 years of company-level real estate investing. They discuss how platform recapitalizations work, where the team is leaning in across sectors, and what investors may be overlooking in today's market. This communication is provided for informational and educational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. This communication is not directed at any investor or…

People in this episode

Host: Anu Rajakumar

Guest: David Haltiner

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Organizations: Neuberger Berman, Almanac Realty Investors

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