The Best Ever CRE Show JF 4154: Why Niche CRE Strategies Are Winning Right Now ft. Ben Lapidus
Jan 18, 2026
Ben Lapidus, a commercial real estate investor and host of the Best Ever Conference, shares his insights on the evolving landscape of CRE. He discusses the shift from survival to selective investor strategies, emphasizing the rise of niche property types like industrial and retail. Lapidus highlights the trend of LPs consolidating capital with trusted operators post-losses and explains why he favors tangible real estate over equities. He reveals how unique investment theses and adaptability can outperform generic strategies as the market resets.
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Market Sentiment Has Shifted
- Sentiment has shifted from survival to selective action in CRE markets.
- Opportunity now appears strongest outside core Sun Belt multifamily, especially in niche non-residential sectors.
Multifamily Returns Are Market Dependent
- Sun Belt multifamily faces headwinds from slowed migration and recent oversupply in new units.
- Other metros (e.g., Chicago) show strong rent growth, so performance is highly market-specific.
Industrial Purchase Paid Off Fast
- Ben bought an industrial single-tenant building outside his usual thesis and it cash-flowed at about 9% with leverage in six months.
- The deal proved niche, low-time-requirement investments can outperform expectations for LPs.
