Front & Center

In this installment of Front & Center, Uma Moriarity is joined by portfolio managers Rob Goldstein, Matthew Goulding, and Joachim Kehr to discuss the latest updates on the Global REIT market. “Traversing Global REIT Markets: Earnings, Interest Rates, and Regional Dynamics” covers key topics, including the state of the consumer, the impact of interest rates on valuations, and the potential impact of central bank policies on the global real estate market.

In our latest episode of Front & Center, Uma Moriarity is joined by senior leadership from Aligned Data Centers, a company that specializes in data center solutions designed to meet the evolving needs of businesses in the digital age. Featuring Chief Executive Officer and Board Member Andrew Schaap alongside Chief Financial Officer Anubhav Raj and Managing Director for CenterSquare’s Strategic Capital platform, Chad Burkhardt, this week’s conversation explores the company’s origins and innovative strategies that have positioned Aligned as an industry leader within the ever-evolving data center space. “Aligned for Success: Exploring Data Center Dynamics” discusses the current risks and opportunities impacting data centers and the revolutionary impact of artificial intelligence on future computing demands. The group also dives into key considerations surrounding the site selection process, Aligned’s proprietary cooling technologies, their sustainability initiatives, and the immense growth potential that still lies ahead for the data center industry.

This week on Front & Center, Uma Moriarity welcomes back Portfolio Manager Alex Snyder to discuss the impact of inflation on interest rates and the REIT market. Uma and Alex discuss the recent increase in the 10-year treasury yield and its effect on cap rates across various sectors. They then delve into inflation data, highlighting the discrepancy between reported inflation and real-time shelter inflation. The conversation then shifts to the state of the consumer and the strength of the job market. “Assessing Economic Indicators: REITs, Inflation, and Interest Rates” explores how these economic factors are shaping investment strategies and offers valuable insights for navigating the current market landscape. The episode concludes by covering the upcoming REITs earnings season and the potential for positive results.

This week on Front & Center Uma Moriarity welcomes Brad Molotsky, a partner at Duane Morris LLP specializing in real estate law, to examine the evolving role of sustainability regulations in the real estate industry and its potential implications for investors. The conversation covers topics such as transition risk, green building requirements, and sustainability reporting and highlights the varying levels of awareness and adoption of sustainability practices among real estate investors and operators. Uma and Brad then discuss the impact of these regulatory updates on real estate transactions and the growing consideration of climate-related risks by buyers and investors. “Sustainability Shift: Navigating Real Estate's Regulatory Landscape” offers an insightful discussion, underscoring the role sustainability principles play in navigating regulatory changes effectively and mitigating climate risk across real estate strategies.

The podcast discusses Q1 REIT trends, including sector performances in senior housing and apartments, surprises in guidance, and the resilience of senior housing post-pandemic. It also explores insights from a global real estate conference, evolution of REIT management mindset towards service-oriented tenant relationships and ESG integration, recent capital market transactions, and opportunities for REITs, and the advantages of REITs in the market outlook.

This week on Front & Center, Uma Moriarity welcomes special guest Joe Gyourko, Director of the Zell/Lurie Real Estate Center at the University of Pennsylvania’s Wharton School of Business for a thought-provoking conversation on the current state of the economy and its future trajectory. “Macro Markers: Trends & Trajectories” delves into the nuances of labor market strength, geopolitical risks, and the impact of rising interest rates. The episode concludes by exploring the housing market and its implications for rental residential real estate.

This week on Front & Center, Uma Moriarity is joined by Alex Snyder and special guest Jonathan Hughes, Director of Equity Research at Raymond James. Together, they discuss the ever-evolving healthcare space and provide insights into the demographic trends shaping the sector’s future outlook. The conversation begins by explaining how today’s aging population has triggered a “silver tsunami” of demand, shaping the healthcare sector’s trajectory over the next two decades. Jonathan then provides a look into the dynamics of key sub-sectors, highlighting regulatory nuances impacting both operators and investors alike and exploring the market forces at play. From senior housing to skilled nursing and outpatient medical facilities, “Insights into Tomorrow's Healthcare Spaces” discusses the diverse array of sub-sectors driving healthcare real estate, each presenting a unique set of opportunities and challenges. As the episode closes, the group reflects on the implications of interest rates and market dynamics for healthcare real estate investors.

As we wrap up our 2024 outlook series, Uma Moriarity is joined by Managing Director, Chad Burkhardt to explore the complexities of CenterSquare’s Strategic Capital strategy. The conversation delves into the advantages of investing in both singular assets and dynamic platforms, shedding light upon the bespoke approaches utilized during market disruptions. From the resurgence of retail real estate to burgeoning demand for data centers, “Navigating Opportunities Through Capital Cycles” dissects this unique strategy which bridges the gaps within traditional real estate investment approaches.

In our latest episode of Front & Center, Uma Moriarity is joined by Managing Directors Jeff Reder and Rob Holuba to discuss their expectations for the private equity real estate market in the coming year. The conversation begins by examining the current phase of the real estate market cycle and the potential for a reset in valuations. The impact of the credit market on the investment landscape is also explored, with a focus on the availability and cost of debt. “Investing with Insight in the Private Markets” delves into the bid-ask spread and price discovery, as well as the opportunities in the retail, industrial, and housing sectors. Uma, Jeff and Rob go on to highlight the importance of value-add opportunities and the potential impact of a weakening consumer on the retail sector. The episode concludes with the group sharing their overall expectations for the coming year.

This week on Front & Center, Uma Moriarity welcomes back managing directors Michael Boxer and Richard Gorsky to provide their insights into the latest trends and developments within the real estate debt landscape. The conversation begins by examining the current lending environment, drawing comparisons to previous cycles and highlighting both unique challenges and advantages that have shaped the market. “Strategies for Success in an Evolving Debt Landscape” goes on to address the wall of maturities approaching in 2024, and sheds light upon the potential outcomes for lenders in the coming year. The group then examines the role of alternative debt providers within the market, focusing on fundamentally distressed assets and those needing to resize their capital structure. The episode wraps up with Michael and Richard sharing their optimism for the coming year, highlighting potential opportunities for lenders to thoughtfully deploy capital in 2024.