Be Thesis Driven.
Construction costs, interest rate pressure, secular shifts in demand, and a surplus of capital have made investing in tried-and-true real estate opportunities increasingly difficult. In response, more sponsors are identifying and executing on new concepts that align with emerging trends.
Between my work at Common and as an advisor & director to other companies across real estate, I regularly see new, creative approaches to design, deliver, utilize, and monetize space. This letter series dives deep into emerging themes and real estate operating models and feature a handful of GPs executing on each theme. The deep dives will provide enough context to understand the trend as well as opportunities for personal introductions to relevant GPs actively executing on opportunities.
Who should read Thesis Driven?
Real Estate Investors / Limited Partners: Thesis Driven is written with the institutional real estate investor or allocator in mind. Real estate concepts and themes will be assessed not only on their viability across cycles, but their ability to scale repeatably and programmatically. While some themes we feature may be early or sub-scale for an institution, identifying trends early is a critical advantage.
General Partners: It’s no longer sufficient for a GP to simply have a deep understanding of his or her niche; familiarity with a broader set of trends and concepts is critical to identifying non-obvious real estate opportunities and staying ahead of challenges in the market.
Capital Markets Brokers and Advisors: The average real estate investor may not be expected to speak fluently about ADUs in one conversation and cold storage in the next, but you are. Staying abreast of emerging trends and the GPs executing on them is critical (and expensable) work. And any Thesis Driven subscriber benefits from double opt-in introductions to any GPs featured.
Entrepreneurs and VCs: Real estate trends go hand-in-hand with proptech and fintech opportunities. Understanding emerging real estate themes—and the people behind them—is essential to building a strong operating or technology business or venture thesis.
Thesis Driven is not about specific deals, personalities, or behind-the-scenes drama. We promise thoughtful qualitative and quantitative analysis of emerging themes and opportunities as well as the GPs behind them. If that’s for you, please join us.