I've been giving a lot of thought to the future of real estate investing, and what it means for my next career move. I'm currently working with a well established sector agnostic private real estate developer in North America, but I'm beginning to contemplate exits. I've been in conversation with two firms that have been amenable to my joining up once I collect my bonus this month. The first is a small debt fund that focuses on retail opportunities up and down the capital stack, and the other is acquisitions for a multi-family REIT. They both have intriguing qualities, but I have trepidation about the direction of these sectors, and what it means for firms that focus on these areas.
For those working in multi-family-- is there concern about the long term viability of MF as an investment considering all the talk about rent control/rising construction costs/anti-development populism?
For those that work on the private debt side, is there a concern about how these firms will weather a recession? Further, given the changes to retail in recent history, any thoughts with respect to retail?
I recognize the above questions are general in nature, but I'm hoping to hear what others thoughts are given the potential major changes on the horizon.