As traditional office fundamentals remain under pressure, investors and operators are rethinking what these assets can become — and whether transformation is viable at scale. This session explores the economics, design complexity, and capital stack considerations behind repositioning office into residential, storage, life sciences, hospitality, medical, education, or mixed-use concepts. Panelists will unpack what makes a conversion pencil (or not), including zoning hurdles, construction realities, regulatory friction, lender appetite, and lease-up risk. Where are true value-creation opportunities emerging — and where are investors underestimating cost, time, and structural constraints? Expect candid discussion on both the wins and the lessons learned.