The TreppWire Podcast: A Commercial Real Estate Show 376. Inside Industrial Strategy, Alternative Assets & Private Credit with Clarion Partners’ Rick Schaupp
Jan 27, 2026
Richard (Rick) Schaupp, Clarion Partners managing director focused on industrial, alternatives, and private credit. He discusses industrial’s evolution to high-tech logistics hubs. He explores private credit’s role in portfolios and diversification. Data centers, senior housing, and industrial outdoor storage come up as noteworthy opportunity areas.
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Architect Turned Real Estate Executive
- Rick fell in love with architecture and trained as an architect before moving into real estate and business school.
- He joined Clarion after business school and progressed through development, asset management, and portfolio roles over decades.
Industrial & Alternatives Drove Resilience
- Clarion's overweight in industrial and alternatives insulated it during COVID and reduced exposure to troubled office assets.
- The firm also prioritizes expanding private wealth access to private real estate products.
Private Credit Complements Equity
- Private credit provides shorter-duration income and liquidity complements to equity within private real estate portfolios.
- It fills lending gaps where traditional lenders stop and can solve construction and capital stack problems.