The Distribution by Juniper Square Operational Alpha Over Scale: Why Focused Real Estate Platforms Are Winning - Jeff Beckham - CIO at Buckingham
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Dec 30, 2025 In a captivating discussion, Jeff Beckham, Chief Investment Officer at Buckingham, shares insights from his diverse career in institutional real estate. He emphasizes the firm’s focus on the living sector, exploring multifamily and student housing markets. Jeff explains how vertical integration enhances operational alpha and why non-coastal markets are increasingly attractive for better risk-adjusted returns. He balances entrepreneurial spirit with institutional discipline, revealing how this strategy positions Buckingham for future growth amid changing market dynamics.
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How A Summer Chat Changed A Career
- Jeff Beckham discovered real estate after a chance summer conversation with a local Ann Arbor developer.
- That internship led him to real estate classes and a path into Morgan Stanley's real estate group.
Early Global Rotations Built Breadth
- Jeff worked across Morgan Stanley's New York, London, and Tokyo offices early in his career to learn every side of real estate.
- Those international rotations gave him broad exposure to principal investing, advisory, lending, and securitization.
Breadth Improves Underwriting Accuracy
- Jeff learned he performs better managing multiple projects across markets rather than living with a single development for years.
- Leasing and hands-on asset work sharpen his underwriting by revealing true timing and costs.