The carry trade is dead, and capital is moving to whoever can manufacture cash flow. Takeaways from a day with more than 250 investors and operators in emerging real estate.
Private wealth has passed the institutional market, and most sponsors have no idea how to reach it. A workshop on raising from family offices and RIAs.
Emerging real estate managers and the infrastructure being built to fund them. Thesis Driven dives into accelerator and incubator models for new GPs, co-GP and PropCo seed capital, GP studios taking operating company equity, a workable tiering of operators by scale and track record, peer communities for developers, and how sub-institutional sponsors become legible to institutional capital.
Real estate investors are defining their own version of venture investing, making $10mm+ commitments to seed the real estate portfolios of emerging OpCo-PropCo sponsors. But strings are attached.
