Leading Voices in Real Estate

In this episode of Leading Voices in Real Estate, host Matt Slepin sits down with Sonny Kalsi, CEO of BGO, a global real estate investment manager with over $90 billion in assets under management. Continuing the show’s multi-episode theme of thinking broadly, both globally and long term, this conversation explores how commercial real estate has evolved and what the next decade might look like in an increasingly unpredictable world.Following recent and upcoming conversations with Tim Bodner of PwC and Roy March of Eastdil Secured, Sonny offers a distinct perspective shaped by experience across market cycles and geographies. He shares the remarkable story of leaving Morgan Stanley in the depths of the Global Financial Crisis, founding GreenOak in 2010, and through growth and strategic M&A, helping build what is now BGO, a leading global real estate platform.Beyond markets and investment trends, Matt and Sonny dive into a core Leading Voices theme, the value of the business platform itself. Sonny speaks candidly about people, culture, and the less tangible elements that drive long term enterprise value, factors that matter just as much as AUM in building a durable and resilient organization.This wide ranging conversation covers global capital flows, long term investment thinking, leadership through uncertainty, and the cultural foundations behind building a world class real estate firm. As always, it is a thoughtful and forward looking discussion for anyone seeking to better understand where the real estate business has been and where it may be headed. Another great Leading Voices conversation.

Tim Bodner, Global Real Estate Deals Leader at PwC, shares his expertise on long-term shifts in global real estate. He discusses how private markets are evolving to attract retail capital, the impacts on public REIT dynamics, and the rise of new investment products tailored for retail investors. Tim highlights the shift toward longer asset holding periods and the convergence of real estate with infrastructure sectors. He also addresses the global housing crisis, climate resilience, and how these factors shape enduring city characteristics.

In a captivating conversation, seasoned real estate executive Matt Slepin dives into industry evolution, tracing its shift from founder-driven 'cowboy' businesses to institutional platforms. He discusses the pivotal role of technology in scaling operations and enhancing profitability. With over 40 years of experience, Matt delves into the importance of culture in driving company value and offers career advice for aspiring leaders. He also shares personal anecdotes, revealing how music and partnership play important roles in his life.

Don Wood, President and CEO of Federal Realty Investment Trust, shares his expertise in retail and mixed-use properties, having led the firm since 2002. He discusses the evolution of the REIT landscape, emphasizing the shift from public REITs to private equity and the strategic role of joint ventures. Don highlights the resilience of grocery-anchored centers post-COVID and the importance of creating appealing destinations. He also reflects on the value of a strong operating platform and the necessity of a diverse leasing team to enhance tenant mix.

In this episode of Leading Voices in Real Estate, host Matt Slepin speaks with Jeremy Bromfman, CEO and founder of Lincoln Avenue Communities, one of the nation’s top affordable housing owners and developers. Founded in 2016, the company has quickly grown into a leading force addressing housing affordability across the country. The discussion focuses on how Jeremy thoughtfully built the organization from the ground up and his perspective on leadership in the affordable housing space.Matt begins by reflecting on how housing has evolved from a “back page” issue to a national conversation. For most of his career, public discussion centered on government-funded low-income programs such as HUD initiatives and the long-standing Low-Income Housing Tax Credit (LIHTC) program, which remains a cornerstone of affordable housing finance. While current debates often focus on rent control, housing supply, and homelessness, Matt notes that these “alphabet soup” government programs continue to function effectively, even if they receive less public attention.Matt highlights two main takeaways from the conversation with Jeremy. First, Jeremy’s intentional approach and leadership have made Lincoln Avenue Communities a major player in less than a decade. Second, while many guests have built businesses from modest beginnings, Jeremy’s story stands out for how he has used his privileged background to chart his own course and make a difference through his company’s mission.Matt is joined by his colleague Sarah Dunn, who leads ZRG’s affordable housing search practice. As he moves toward semi-retirement, he reflects on mentoring colleagues like Sarah and invites listeners to explore more affordable housing episodes and connect with ZRG for talent and advisory needs.

Jeffrey Hoopes, President of the West Region for Suffolk Construction, shares his wealth of construction industry insights. He explores the evolving landscape with AI, prefabrication, and technology investments, emphasizing the importance of grounding innovation in safety and craftsmanship. The conversation takes a personal turn as Jeff discusses leadership transitions and finding purpose post-retirement. He also highlights the need for a skilled workforce and offers advice for young people entering the construction field.

Bob Hart, Founder and CEO of TruAmerica Multifamily, shares his inspiring journey from his early career at Kennedy Wilson to founding one of the largest apartment operators in the U.S. He discusses TruAmerica's value-add strategy targeting workforce housing and the company's recent entrance into affordable housing. Delving into his operational practices, Bob highlights the importance of mentorship and strategic partnerships. He also provides insights into the future of the multifamily market and offers advice for aspiring real estate professionals.

Join Joe Muratore and Ryan Swehla, co-founders of Graceada Partners, as they reveal the untapped potential in secondary and tertiary real estate markets. With a focus on value-add multifamily and industrial investments, they challenge the notion that only primary markets yield results. Hear about their strategic partnerships and how operational inefficiencies create opportunities for strong returns. They share insights on performance data and the increasing attractiveness of these markets due to evolving work and lifestyle dynamics.

In this engaging conversation, Luke Petherbridge, CEO of LINK Logistics with a decade-long experience in the Blackstone ecosystem, and Nick Pell, President and CIO who played a key role in LINK's early days, dive into the logistics industry's evolution. They discuss the impact of e-commerce on rapid delivery demands and the strategic growth of LINK under Blackstone. Insights on food insecurity and career advice for aspiring real estate professionals make this discussion both inspiring and informative, underscoring the importance of adaptability in the industry.

Debra A. Cafaro, Chairman and CEO of Ventas, describes her inspiring journey from humble beginnings in Pittsburgh to leading a major REIT focused on senior housing. She discusses Ventas's innovative strategies, emphasizing the shift from nursing homes to personalized senior living. Cafaro also reflects on navigating challenges during the COVID-19 pandemic and the importance of teamwork and mentorship in real estate leadership. With insights on market dynamics and the future of aging populations, her thoughts are both engaging and enlightening.