Nareit Senior Vice President for Research Ed Pierzak was a guest on the latest episode of the REIT Report to share highlights of Nareit’s 2025 mid-year update. 

Pierzak reviewed expectations for the REIT industry coming into the year, and how the reality has played out in recent months. He described the first half of the year as a roller coaster ride for REIT investors, with turbulence resulting from new directions in trade policy and economic uncertainty. 

“The current thinking is that the ride may have ended at mid-year, really kind of leaving us in the same place as we started the year. But if the ride restarts due to the new tariff actions, the experience of the last six months really gives us confidence that REITs are well positioned to weather additional volatility and thrive,” Pierzak said. 

Elsewhere in the interview, Pierzak reviewed the state of REIT balance sheets and the impact of higher interest rates, among other topics.