Stuart Blair, CAIA, Director of Research, participated on a panel entitled Value-Added and Opportunistic Investing in Today’s Market at Markets Group’s Pacific Institutional Real Estate Investor Forum - Los Angeles.  The panel, composed of both investors in equity and debt in real estate and investment fiduciaries, discussed the current environment for real estate investing with a focus on opportunistic investing.  Current valuations and the impact of rising rates was a constant theme during the panel discussion.  Almost everyone agreed that it was challenging to find good value in the sector (Value-Add) and that now was not the time to reach for risk.