Greg Steele, managing director at Capital One, joined Nareit for a video interview at REITworld 2017. According to Steele, one of the more surprising developments in real estate capital markets this year has been the impact of technology on real estate. The stock performance and capital raising of retail REITs have come under pressure this year, in part due to the impact of e-commerce. Meanwhile, data center REITs and tower REITs have traded above net asset value, and capital raising in those sectors has proceeded at about twice last year’s pace, he said.