Every decade, a new asset class gets birthed in real estate. Bill Verrent is going to be the next one. JLL said it was looking to cut $125 million in costs this year. Cushman and Wakefield reported an 80% drop in fourth quarter profits.
For the past year, public real estate investment trusts that own or manage office buildings, hotels and multifamily have traded at steep discounts as investors feared rising rates would take a whack to profits and property values. Amid that downturn, Ben Miller, CEO of investment platform Fundrise, has set his sights to credit. Tune in for the lowdown on why Miller sees opportunity in debt and which asset classes he’s eyeing once equities markets recover.