“AI-native firms” built around generative AI technology from day one could gain an advantage over competitors trying to adapt legacy processes, attendees heard last week during NAREIM’s Virtual Exchange Series: Technology, Data & AI Survey Analysis.
Yet established firms possess something newcomers will struggle to replicate: the trust of their investors, which they have spent years nurturing.
“AI-native firms that will compete the best will be those that pull people together from legacy firms, so they have that incumbent trust that’s there, but they are going to be rebuilding that factory from scratch.”
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The modern portfolio manager remains responsible for setting investment strategy and serving as a “steady pair of hands” in difficult moments, attendees heard at NAREIM’s Portfolio Management meeting held in New York City last week.
But the role is expanding, encompassing more client interaction, reporting responsibilities, knowledge transfer, and significantly more travel than in years past.
“Part of the role is also therapist. It’s explaining that real estate is a cycle and talking folks off the ledge, both colleagues who are less seasoned and investors.”
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The role of asset management is expanding well beyond traditional oversight responsibilities. Today’s asset managers are increasingly expected to act as strategists, operators, capital allocators, data stewards, technology advocates, and organizational connectors, as heard during NAREIM’s Asset Management Meeting held last week in New York City.
Whether the topic was expense optimization, acquisitions alignment, portfolio strategy, team structure, or technology adoption, the conversations consistently pointed to a profession that is becoming more central to investment performance than ever before.
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AIFMD should not be viewed solely as a fundraising regulation, attendees heard at NAREIM’s Virtual Exchange Series: Implications of AIFMD2, held this week.
The directive was originally designed to create a pan-European framework for investor and market protection following the global financial crisis, attendees heard. While firms most often experience the rules through marketing restrictions, investor disclosures, and registration requirements, the broader objective is systemic oversight, providing regulators with greater visibility into fund structures, delegation arrangements, liquidity management, leverage, and operational risk.
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“Coaching is about helping someone think, not telling them what to do. It’s asking: ‘What do you want from your career?’ not ‘Here’s what you should do next,’” attendees heard at NAREIM’s Hispanic Real Estate Roundtable held in New York this week.
Trust is central to the coaching relationship. It involves providing constructive criticism as well as encouragement, coming from a place of genuine care.
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Sustainability professionals within real estate investment management are adjusting to a changed political and regulatory landscape, evolving industry nomenclature, and shifting market realities, attendees heard at NAREIM’s Sustainability meeting held in Austin this week.
“We have guardrails on terminology,” one participant said. “Banned terms include ‘climate change,’ ‘net zero,’ and ‘DEI+B.’ But we continue to do the work and call it something else, like ‘climate resiliency.’”
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The role of capital raising and investor relations is expanding faster than the industry can define it. During live polling conducted at NAREIM’s Capital Raising & Investor Relations meeting held this week in Chicago, only 34% of professionals said their capital raising role is very clearly defined, while two-thirds described it as only somewhat clear or unclear—a signal that confusion has become the norm.
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For an industry that’s proven to be behind the curve when it comes to technological advancements, there’s no surprise that artificial intelligence is taking commercial real estate by storm. But for what historically has been seen as an IT problem, all job functions across an organization are now being forced to jump on board, as members heard during NAREIM’s Legal, Compliance & Risk meeting this week in Chicago.
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The adoption of artificial intelligence has shifted from abstract future possibility to urgent business priority: a matter of talent recruiting and retention, culture, and competitive positioning. This was a recurring theme attendees heard throughout the day at NAREIM’s Data & Information Management meeting in Nashville this week.
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