{
  "url": "https://classa.info/guides/capital-markets-class-a-2026",
  "title": "Capital markets in Class A: 2026 view",
  "description": "Where institutional capital is allocating across Class A office in 2026 — and what is structurally distressed.",
  "oneSentenceAnswer": "Trophy Class A trades have resumed at 2018-equivalent cap rates in gateway markets.",
  "tldr": [
    "Trophy Class A trades have resumed at 2018-equivalent cap rates in gateway markets.",
    "Mid-tier Class A remains capital-starved with bid-ask spreads still wide.",
    "Value-add and opportunistic capital is targeting reposition and conversion plays.",
    "Debt markets have reopened for trophy assets at 50–55% LTV.",
    "Cross-border capital has rotated toward Tokyo, Singapore, and Sydney trophy."
  ],
  "faqs": [
    {
      "question": "Are office REITs still investible?",
      "answer": "Selectively — REITs with trophy-heavy portfolios in supply-constrained gateway markets are recovering. REITs concentrated in mid-tier suburban office remain structurally challenged."
    },
    {
      "question": "What is the cap rate for a London City trophy?",
      "answer": "Recent comparables (2025) cleared at 4.5–5.0% net initial yield for stabilised trophy assets in the City. West End tightens to 4.0–4.5% for the very best stock."
    }
  ],
  "pageType": "guide",
  "lastUpdated": "2026-04-01T00:00:00.000Z",
  "license": "CC BY 4.0 with attribution to Class A Atlas (https://classa.info).",
  "citation": "Source: Class A Atlas (https://classa.info/guides/capital-markets-class-a-2026), updated 2026-04-01T00:00:00.000Z."
}