Category Archives: Real Estate

A family office can save every basis point of fund fees on a direct deal and still lose far more than the fees would ever have cost. The savings are visible on day one. The cost arrives later, usually when the hold that was pitched as three to five years is entering year seven, the […]

What family offices should ask before accepting a business plan that depends on capital markets cooperating at a single moment in time. A business plan can be sound at the asset level and still rest on one assumption that has nothing to do with the asset. For most of the last cycle, that assumption had […]

The asset class endures. The discipline behind it does not always. Conversations about real estate in family office portfolios often end where they should begin. The allocation gets defended on inflation hedging, tax efficiency, and “tangible asset” comfort. Then the portfolio drifts, leverage compounds, a property manager underperforms quietly for two years, and the next […]

What four recent downturns reveal about leverage, liquidity, underwriting discipline, and governance. Real estate has long been one of the most important wealth-building tools for enterprising families. Across generations, family offices have used property investments to generate income, preserve capital, hedge inflation, and maintain exposure to tangible assets. Today, real estate continues to rank among […]

In most market cycles, headlines fixate on the Federal Reserve. Is the Fed hiking?Is the Fed cutting?How many cuts are coming this year? For family offices and operating businesses with real estate (or plans for long term debt) exposure, this focus is understandable but often misplaced. While the Federal Reserve controls short-term policy rates, it […]

[If you missed my last LinkedIn Live event Real Estate 2026: Capital Is Available, Certainty Is Not – you can catch the Replay HERE.] Key takeaways from the IMN Winter Real Estate Forum – January 2026 One phrase from the conference kept resurfacing in different forms: Capital has not disappeared from real estate…but the bar […]