He added: "Broadly there are aspects of retail where you can get some interesting deals and good returns."
According to Vanessa Hale, head of research and insights at BNP Paribas Real Estate, anything being driven by long-term themes such as demographics and technological evolution is interesting.
She said: "From a commercial real estate perspective, [we're interested in] the hospital side and anything demographic related - it's beds and sheds.
"Whether it's student accommodation or institutional rents or senior living or industrial and logistics - this is all being driven by AI and ageing populations."
Mukhamedova said AI was also becoming the "new story" in terms of data centres. "Demand for the asset class remains strong, and yet the supply is still difficult - it is hard to find the space for the new buildings needed for data centres, for example."
But she said AI could be used to help improve efficiencies across the real asset space, such as cutting energy bills or pinpointing maintenance early on.
She explained: "AI is being used to calculate the current need for energy, and to help companies model which parts of the building need to use energy at particular times.
"This can help with offices and student accommodations, for example, which are positive developments and making things more efficient."
Hale agreed: "There are wins there, which means these businesses can be more financially productive and efficient."
Barriers and considerations
The panel also addressed barriers to client access and explore actionable strategies for successfully integrating real assets into diverse portfolios.
For example, there is an environmental, social and governance aspect to consider, especially with regards to retrofitting old buildings such as offices and warehouses, which can take time and increase prices.
An ESG focus can also push up the price of developments and cause potential delays in new buildings, Skeldon said.
Although this would necessarily present better, more sustainable opportunities for investors in the long-term, the move towards ESG could be slowing down the number of new investment opportunities, the panel suggested.
Fellow panellist Oliver Creasey, head of property research at Quilter Cheviot, said the new regulatory sustainability disclosure requirements brought in by the Financial Conduct Authority may also be something for advisers and clients to consider.
He said: "It's early days so far. The actual labelling only really came into play over the summer, and we have not yet seen many property funds get over the line to get a label.
