The Biggest Difference Between an Individual Investor or an Institutional Investor

For all investors of any type, whether you're an individual investor or an institutional investor, really what matters most is performance. In the end, especially we as a manager, if we can show up and say we continue to generate great performance on your investments, it could be any kind of client on the other side of the table. I think those institutional investors are really committed to real estate. Individual investors, for the most part, have not yet determined that real estate is something they want and need to leave as core to their portfolio in and out of cycles.