The Distribution by Juniper Square Special Series: Lower Middle Market Alpha with Ryan Moore - Co-Founder and CEO - Last Mile Investments - Retail’s Revenge: The Last Mile Opportunity
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Mar 28, 2025 Ryan Moore, Co-founder and CEO of Last Mile Investments, shares insights from over 20 years in real estate. He discusses the contrarian approach to unlocking value in unanchored retail spaces and the importance of local market knowledge. Ryan emphasizes the resilience of brick-and-mortar retail, outlining how strategic investment and operational expertise can yield high returns. The conversation also covers the evolving landscape of retail investment amidst a recovering market, highlighting collaborative culture and thematic strategies as keys to success.
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Retail's Nuance
- Institutional investors seek easily understood themes for efficient, large-scale deployments.
- Retail's nuance makes it harder to assess from afar, unlike multifamily where submarket analysis often suffices.
Capital Markets Dislocation in Retail
- Retail's complexity creates a capital vacuum, offering dislocated yields despite strong fundamentals.
- This presents alpha opportunities for managers who can educate investors and navigate the nuances.
Leveraging Local Intel
- Build a bottoms-up organization; empower on-the-ground teams to share market intel.
- Integrate this information with top-down strategic discipline for well-informed decisions.