I personally think that at current pricing of reit, the room of capital gain is rather limited.
From experience, there is no such thing of recession proof. In theory sound perfect.
But if recession does hit, just matter of degree being impacted.
Even the retail reit is not being hit by recession (due to lease signed), but due to overall market sentiment, price may dip as well.
As it is very seldom to see overall market dipping, while a stock is not (yes, it could dip less). Market move up and down mostly together just differ in more and less.
They may be so called "recession proof" but upside also limited, as rental/lease won't increase dramatically even though economy is booming, as if economy is booming, interest rate may rise as well, which high interest rate may make reit looks less attractive.
Those retail reits are flying, another reason, they are large cap, with liquidity whereby fund manager, insurance fund, fixed income fund manager can buy into it, as a platform to provide fixed income to the fund.
One specific risk for REITs is interest rate rises when they need to refinance debt since all of the REITs are leveraged to a lesser or greater degree. Here is one article on Bloomberg warning about the risk to Singaporean REITs: