MetLife Inc. Finance manager John McCallion sees positive outlook for commercial real estate in 2025 amid improved returns from related funds as well as supportive economic conditions.

The combination of healthy economic growth, potentially falling interest rates and stronger transaction activity indicates that the real estate sector, excluding offices, has bottomed out, McCallion said on a call with analysts on Thursday. MetLife sold five properties in the third quarter, reaping profits of $120 million to $150 million, he said.