The Rent Roll with Jay Parsons EP#36 Alicia Miller | Raising Capital Amidst Macro Uncertainty
11 snips
May 29, 2025 Alicia Miller, Head of U.S. Capital Markets for Black Salmon, shares her insights on the challenging landscape of real estate fundraising, particularly amidst macroeconomic uncertainty. She discusses the differing sentiments of domestic versus foreign investors and offers strategies to navigate these obstacles. The conversation highlights the resilience of the multifamily market, innovative housing incentives in Florida like the Live Local program, and the impact of tech sector shifts on Austin’s housing dynamics, making for a captivating dialogue on current market trends.
AI Snips
Chapters
Transcript
Episode notes
Alicia's Real Estate Origin Story
- Alicia Miller started in musical theater before pivoting to real estate after an internship opened doors.
- Her family’s real estate portfolio showed her how ordinary people build long-term wealth.
Capital Raising’s Harsh Reality
- Capital raising is toughest Alicia and her peers have experienced amid market hesitation.
- Investors still cling to old value-add cashflow strategies that are rare in today’s environment.
International LP Sentiment Lags
- Foreign investors favor U.S. multifamily but often mirror U.S. market hesitations.
- International trends typically lag U.S. market trends by about nine months.