JLL: U.S. Most Popular Spot for Private Wealth Investment in CRE

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JLL, Chicago, released its 2025 Private Wealth report, finding that the U.S. attracted 40% of all global private wealth investment volumes in commercial real estate from 2013-2024.

JLL tracked $1.5 trillion in private wealth investments into global CRE via direct deals during the period. The investors included high-net-worth individuals, family offices, family-owned businesses and select private developers and property companies.

“We’re witnessing an increasingly diverse investor base looking to deploy capital into commercial real estate, with private wealth one of the fastest growing segments,” said Richard Bloxam, CEO, Capital Markets, JLL. “This class of investor is becoming one of the most active and influential participants in real estate, complementing the strengths of traditional institutional powerhouses. In the coming years, we expect private wealth participation to continue to increase via direct investment in property and operators, indirect investment in private real estate funds as well as taking other positions in the capital stack.”

The Americas region as a whole received $643 billion during the 2013-2024 period, or 42%. Next was Europe, the Middle East and Africa (the EMEA region) at 37% or $566 billion and Asia Pacific at 21% or $318 billion.

The U.S., United Kingdom (10%) and Germany (7%) were the top three countries for investment overall during the period. There was also significant investment in Australia, Hong Kong, Japan, France, the Netherlands, Canada and Sweden.

Office properties were the preferred investment of private wealth investors, with $464 billion in capital over the past decade. Living assets drew $359 billion in capital, followed by $282 billion for retail, $185 billion for industrial and logistics and $174 billion for hotels.