Private investors are becoming an ever more integral part of the commercial real estate market; it has been reported (<a href="https://kfcontent.blob.core.windows.net/research/1298/documents/en/active-capital-the-report-2017-4803.pdf">here</a>) that they now account for over a quarter of all global commercial real estate transactions. Further to this, the head of capital markets research at Knight Frank has noted that they “expect that the appetite from private investors for commercial real estate will continue to increase” adding that in the next two years “32% of ultra-high net worth individuals will invest in cross-border real estate deals”.