
What's Next For Markets REIT All About It: A Conversation With Piper Sandler's Alex Goldfarb
6 snips
Sep 21, 2025 In this discussion, Alex Goldfarb, a seasoned Managing Director at Piper Sandler, explores the evolving landscape of real estate investment trusts (REITs). He shares insights on why real estate has moved from a niche to a mainstream investment. Alex details the intricacies of commercial offices, data centers, and warehousing, touching on the implications of rising interest rates. The conversation also tackles the perceived risks of real estate during downturns and highlights the diverse opportunities for savvy investors in a post-COVID world.
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From Esoteric To Mainstream After Dot‑Com
- Alex recounts how REITs went from esoteric to mainstream after the dot-com bust revealed yield demand.
- He contrasts casual investor enthusiasm for AI/crypto with their discomfort around familiar REIT businesses.
Real Estate Became Mainstream Yield Play
- Real estate has shifted from an esoteric to a mainstream asset class driven by yield and limited new supply.
- REITs are simple: collect rents, pay dividends, and reflect credit/economic views for investors.
Supply Shortage Is A Major Tailwind
- Minimal new development across sectors (apartments, industrial, office) supports occupancy and pricing.
- With rates falling and economy steady, fundamentals look unusually strong post-WWII.



