Cornell University’s Baker Program in Real Estate and Hodes Weill & Associates are pleased to present the findings of the fourth annual Institutional Real Estate Allocations Monitor (the “2016 Allocations Monitor”). The 2016 Allocations Monitor focuses on the role of real estate in institutional portfolios, and the impact of institutional allocation trends on the investment management industry. Founded in 2013, the Allocations Monitor is a comprehensive annual assessment of institutions’ allocations to, and objectives in, real estate investments. This report analyzes trends in institutional portfolios and allocations by region, type and size of institution.