30 years of change: The key remains talent

As NAREIM marks its 30th anniversary, we asked five founding members to discuss the biggest structural changes over the past three decades and to look ahead to the largest challenges that will impact real estate investment management.


For AEW’s Pam Herbst, Clarion’s Steve Furnary, Northwestern’s Tom Zale, PGIM’s Cathy Marcus and David Reilly, former CEO of Cornerstone Real Estate, the move from institutional to individual investors will represent a tectonic shift for the industry over the coming decades. But that could be dwarfed by the changes happening within investment management firms themselves as the industry moves to diversify and invest in its own talent.


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