Tom Livelli, Partner at EQT Real Estate – Europe's Housing Imbalance and the Living Opportunity

Europe's Housing Imbalance and the Living Opportunity with Tom Livelli, Partner and Head of Living Strategies, Europe at EQT Real Estate This week, I sat down with Tom Livelli to dive into how Europe's chronic housing undersupply, shifting renter behaviour, and capital rotation are shaping one of the most compelling living strategies in global real estate today.   Tom is a Partner with EQT Real Estate and Head of Living Strategies, Europe, based in Madrid. Before EQT, he helped build Greystar's South American business from a laptop in a Santiago coffee shop into a billion dollar platform, and previously led large scale residential and mixed use projects in the US, Latin America, and Central America. His career spans military housing, emerging markets, and now a pan European living platform backed by EQT's active ownership model.   We unpack how his experience across eleven countries informs his view of risk, liquidity, and political stability, why Europe's living sector now offers "higher return for lower risk," and how EQT is designing product, operations, and capital structures for the next phase of the cycle. Key Topics Covered in This Episode ✅ Building a Pan European Living Platform How EQT Real Estate has assembled a vertically integrated but not overbuilt living strategy across student housing and apartments, with local teams on the ground and a value add focus across multiple European markets.   ✅ From Military Housing and Central America to Greystar and EQT Why Tom's early work on military housing in the US, community building in Central America, and scaling Greystar in Chile gave him a deep appreciation for stable institutions, liquidity, and the realities of operating in emerging markets.   ✅ Designing a Higher Return Lower Risk Living Model How EQT is targeting urban, transit connected locations with minimal amenities, smaller minimum efficient scale, and lean operations to lower upfront investment, lift NOI margins, and tap deeper, more resilient segments of tenant demand.   ✅ Europe's Structural Housing Imbalance Why affordability pressures, later first time homeownership, and longer rental periods are driving an extraordinary surge in rental demand across Europe, and why Tom believes this supply demand gap gives the living sector significant room to run.   ✅ Capital, Cycles, and Europe versus the US How global institutions are viewing Europe relative to the US today, why accretive debt and repricing are creating a window for value add capital, and where Tom sees the most interesting opportunities by country and sector over the next few years.   And of course, I asked Tom the big question: Who are the People, what Property, and which Place would you invest in if you had £500 million to deploy? If you have thoughts or questions about this episode, drop them in the comments. I'd love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers.

The Future of European Real Estate: Strategy, Capital, and Structural Change with Simon Wallace, Head of UK Real Estate & Global Co-Head of Research - DWS. This week, I sat down with Simon Wallace to explore how Europe's real estate landscape is shifting - and what that really means for investors, fund managers, and operators in the next cycle. Simon began his career as an economist before moving into real estate on the eve of the financial crisis. Since then, he has become one of the most influential strategists in the industry, shaping how research informs underwriting, capital allocation, and long-term thematic positioning across Europe. We unpack how his role evolved from research to strategy to leadership, what today's investors truly value, and why the coming decade could be defined by wellness, tech adoption, and a deeper rethink of how cities function. Key Topics Covered in This Episode ✅ From Economist to Strategist - How starting his career during the GFC accelerated his learning and shaped his investment philosophy ✅ Research as a Value Driver - Why research now has a formal voice in investment decisions and how strategy has become central to performance ✅ Building Modern Teams - The behavioural traits, breadth of experience, and challenge culture needed for next-generation research and strategy roles ✅ Structural Themes - How wellness, demographic shifts, and autonomous vehicles could reshape demand, cities, and opportunity sets ✅ Capital & Cycles - Why Europe may be quietly entering a recovery phase and how global capital is viewing the UK, Germany, and the living sectors And of course, I asked Simon the big question: Who are the People, what Property, and which Place would you invest in if you had £500 million to deploy? If you have thoughts or questions about this episode, drop them in the comments - I'd love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers.

Technology, Talent, And The Future Of Purpose Built Living with Bay Downing, Joint CEO of Downing and Co Founder of Aboria Capital. One of the UK's leading vertically integrated living platforms with 6000 plus operational beds across top university cities. This week, I sat down with Bay Downing to explore how a second generation family business is evolving into a tech enabled, institutionally backed platform shaping the future of student accommodation and urban living. With property in his DNA, Bay has spent the last eight years working across investment, development, operations and marketing, while helping co found Aboria Capital, Downing's investment management arm. Now Joint CEO alongside Sally O'Brien, he is focused on scaling a business built on legacy, discipline and innovation. We discuss how AI, automation and data intelligence are transforming operations, how global investors are reallocating into specialist living sectors, and why PBSA and co living continue to present some of the strongest structural tailwinds in UK real estate. Key Topics Covered In This Episode ✅ The Downing Journey How a family business grew from HMOs in Liverpool to one of the UK's largest integrated PBSA platforms with more than 6000 beds and 200 employees. ✅ Technology And Operational Excellence How AI driven enquiry management, outbound calling, workflow automation and predictive analytics are reshaping leasing speeds, customer experience and pricing accuracy. ✅ Institutionalising A Legacy Business Why Bay co founded Aboria Capital, how the partnership with Jessica Hardman emerged, and what investors are seeking from specialist managers today. ✅ Global Demand And Market Shifts Insights into international student flows, including a 250 percent surge from the US and Canada, and what that means for UK supply and returns. ✅ ESG, Energy And Responsibility Bay's role as Director of On Site Energy and how data led energy solutions are helping Downing reduce consumption, lower costs and improve sustainability outcomes for residents and partners. ✅ Leadership, Succession And Culture What Bay has learned working alongside Sally O'Brien, the importance of alignment across departments, and how Downing continues to evolve without losing its family ethos. And of course, I asked Bay the big question: Who are the People, what Property, and which Place would you invest in if you had £500 million to deploy? If you have thoughts or questions about this episode, drop them in the comments. I would love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers.

This week, I sat down with Jeffrey Reder to unpack how the US real estate market is evolving, why the middle market is delivering some of the most compelling opportunities today, and what it really takes to outperform through multiple cycles. Jeff began his career in corporate finance at Salomon Brothers in New York before transitioning into direct real estate. Since joining CenterSquare in 2006, he has helped build one of the most respected value-add platforms in the country. Today he serves as Portfolio Manager for the firm's Value-Added Fund series and leads a nationwide team focused on sourcing, underwriting and executing industrial, residential and essential-service retail strategies. We explore how capital, pricing, and investor behaviour are shifting, why discipline around basis and underwriting has never mattered more, and how CenterSquare consistently finds opportunities others overlook. Key Topics Covered In This Episode ✅ Off-Market Edge – How CenterSquare sources more than 80 percent of its transactions off market and why clarity around the "buy box" creates meaningful alpha ✅ The Power of Small Is Mighty – Why infill industrial, essential-service retail and smaller, operationally intensive assets continue to outperform in today's market ✅ Cycle Discipline – How the team identified valuation risk early and exited multifamily positions before cap rates moved, protecting performance and investor capital ✅ Investment Frameworks – The Five Cs and Three As guiding CenterSquare's philosophy and how they shape conviction, capital deployment and exit discipline ✅ US Market Opportunity – What global LPs are saying about deploying into the US and why forward supply dynamics may set up one of the most interesting entry points in years ✅ Building a Platform – Lessons from 20 years growing a national value-add business, developing talent, and building repeatable processes that drive consistency And of course, I asked Jeff the big question: Who are the People, what Property, and which Place would you invest in if you had £500 million to deploy? If you have thoughts or questions about this episode, drop them in the comments. I would love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers.

The Future of European Real Estate: Capital, Cycles, and Opportunity with Simon Martin, Senior Partner, Chief Investment Strategist & Head of Research - Tristan Capital Partners. €15+ billion AUM leading institutional grade, full-service private equity real estate firm. This week, I sat down with Simon Martin to unpack how Europe's real estate market is changing and what it means for investors, fund managers, and entrepreneurs today. Simon has helped grow Tristan from a start-up spin-out into a €15 billion manager. For more than twenty years, he has experienced every major market shift and brings a rare perspective on how capital, strategy, and driving returns are changing. We explore what it takes to launch a business in today's environment, how investor priorities are pivoting, and why Europe may be entering one of its most interesting phases in a generation.   Key Topics Covered In This Episode ✅ The Changing Nature of Core Capital – Why the next generation of investors will look very different and what they are seeking today ✅ Building Through Cycles – Lessons from launching a business during the financial crisis and scaling through recovery ✅ Starting a Platform Today – Why creating a new investment business now is harder than ever ✅ European Capital Flows – What global investors are saying about deploying into Europe and where the opportunity set is ✅ Reflections and Lessons – The importance of speed, focus, and coherence in portfolio construction, entry and exit ✅ Looking Ahead – How credit, resilience, and operational performance will shape the next cycle   And of course, I asked Simon the big question: Who are the People, what Property, and which Place would you invest in if you had £500 million to deploy? If you have thoughts or questions about this episode, drop them in the comments. I would love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers.

What does it take to design and deliver a £2 billion real-estate platform serving over a million UK pensioners - while keeping a long-term focus in a short-term world? This week, I sat down with Alistair Smith, Head of Real Estate at Border to Coast Pensions Partnership, to unpack his 30-year career spanning advisory, private-equity, and institutional real estate - and the leadership lessons learned through every market cycle. Alistair's journey includes senior roles at abrdn, where he led European real-estate investment management, before joining Border to Coast in 2022 to launch its UK Direct and Global Indirect Pooled Funds - now managing roughly £2 billion across 11 partner funds. We discuss navigating mergers, restructuring portfolios, and how to build enduring value in an industry defined by change. Key Topics Covered In This Episode ✅ From Advisory to Institutional - The path from chartered surveyor to head of real estate ✅ Mergers & Change - Lessons from the abrdn / Standard Life integration ✅ Redundancy & Resilience - How to rebuild and refocus after a career shock ✅ Building Border to Coast - How to pool 11 pension funds and create a £2 billion platform ✅ Long-Term Value - Why durable income beats short-term churn in real-estate investing ✅ Market Outlook - Where he sees opportunity as core real estate rebalances Oh, and one last thing… In every episode, I ask each guest: Who are the People, what Property, and which Place they'd invest in if they had £500 million at their disposal? Alistair's answer reflected discipline, clarity, and a decades-long belief in the power of durable income and quality assets 💷 Got thoughts or questions about this episode? Drop them in the comments - I'd love to hear from you. And if you're enjoying what I'm putting out, don't forget to hit subscribe and turn on notifications so you never miss an episode. The People Property Place Podcast is powered by Rockbourne – Recruiting Leadership & Future Leadership hires for Real Estate Funds, Owners, Investors & Developers. 🔊 LIKE  ➡  SHARE  ➡  SUBSCRIBE 👉 http://peoplepropertyplace.com/

What does it take to stay relevant through four decades, across every market cycle, and still have the hunger to build something new? This week, I sat down with Will Rowson, Founder of Newland Capital Partners, to unpack his 35-year journey across global real estate — from gritty East London industrial estates to leading Europe's largest investment platform — and what it really takes to adapt, evolve, and keep learning. Will's career includes senior roles as EMEA CIO at CBRE Investment Management, Equity Partner at Hodes Weill, and CEO of Global Student Accommodation (GSA), where he helped raise over $2 billion in equity. Now, through Newland Capital Partners, he advises leading European managers on capital strategy, equity raising, and navigating a market in flux. We discuss the power of reinvention, lessons from leadership, and where he believes opportunity lies in the "living" and logistics sectors over the next cycle.   Key Topics Covered In This Episode: ✅ From Strutt & Parker to CBRE — Lessons from the early days of valuation and leasing ✅ Across the Cycles — What 35 years in European real estate has taught him about timing ✅ Facing Cancer — How a life-changing diagnosis reshaped his outlook and leadership ✅ The Squeezed Middle — Why mid-sized fund managers must adapt or consolidate ✅ Continuation Funds — What they reveal about today's market ✅ Living & Logistics — Why these two sectors still offer the best risk-adjusted returns   Oh, and one last thing… In every episode, I ask each guest: Who are the People, what Property, and which Place they'd invest in if they had £500 million at their disposal? Will's answer was pragmatic, data-driven — and full of hard-won perspective 👌   Got any thoughts or questions about this episode? Drop them in the comments — I'd love to hear from you. And if you're enjoying what I'm putting out, don't forget to hit subscribe and turn on the notification bell so you never miss an episode. The People Property Place Podcast is powered by Rockbourne – Recruiting Leadership & Future Leadership hires for Real Estate Funds, Owners, Investors & Developers.   🔊 LIKE ➡ SHARE ➡ SUBSCRIBE 👉 http://peoplepropertyplace.com/

What does it take to walk away from a successful private-equity career and build your own real-estate investment platform from scratch? This week, I sat down with Anthony Maxwell-Jones, Founder & Managing Partner at Valorem Investment Partners, to unpack his journey from the early days at Mercer / Castleforge to founding Valorem - and what he's learned along the way about timing, risk, and backing yourself. Anthony has quietly built one of the UK's most interesting boutique investment platforms, deploying over £80 million across offices, student, residential, hotel, and strategic-land assets - achieving a 20 % IRR and 2.2× MOIC. We discuss how he spotted opportunity in the wake of the GFC, why he left a newly raised fund to go it alone, and the lessons that came from building Valorem through Brexit, Covid, and a volatile rate cycle. ⸻ Key Topics Covered In This Episode: ✅ From Castleforge to Valorem - How Anthony transitioned from analyst to entrepreneur ✅ The Leap - What gave him the confidence to found his own firm at 27 ✅ Covid Chaos - How a "malicious virus clause" saved a £90 million office scheme ✅ Family Office Capital - Building trust, track record & long-term partnerships ✅ Discipline & Patience - Investing through a stagnant market without pressure to deploy ✅ Future Focus - Why defence infrastructure and core-plus offices are on his radar ⸻ Oh, and one last thing… In every episode, I ask each guest: Who are the People, what Property, and which Place they'd invest in if they had £500 million at their disposal? Anthony's answer did not disappoint 👌 Got any thoughts or questions about this podcast? Drop them in the comments - I'm always up for a chat! And if you're enjoying what I'm putting out, don't forget to hit subscribe and turn on the notification bell so you never miss an episode. The People Property Place Podcast is powered by Rockbourne – Recruiting Leadership & Future Leadership hires for Real Estate Funds, Owners, Investors & Developers. 🔊 LIKE ➡ SHARE ➡ SUBSCRIBE 👉 http://peoplepropertyplace.com/

What happens when the global order that shaped real estate for decades begins to fracture? This week, I sat down with José Pellicer, Founder Partner at Evonite, to unpack how de-globalisation, contrarian bets, and a smarter approach to thematics will shape the winners of the next 5–10 years. José brings a sharp, historically grounded perspective on risk pricing, macro shifts, and how to identify real opportunities in a noisy market. From railway mania in the 1840s to data centres today, he explains why blindly following themes isn't enough — and where nimble managers can still find edge. We explore how the investment landscape is changing, who stands to win, and the mindset required to build conviction in a fragmented world. ⸻ Key Topics Covered In This Episode: ✅ De-Globalisation — The end of the "safe seas" era and why it matters for real estate ✅ The Next Decade — Who wins as global power dynamics shift ✅ Thematics vs Bottom-Up — Why real opportunities aren't found by following the herd ✅ Contrarian Bets — Where pricing risk correctly can create outsized returns ✅ Blackstone & Bad Emperors — Lessons from history and market cycles ✅ Opportunity for Real Estate — How nimble managers can thrive in polarised markets ⸻ Oh, and one last thing… In every episode, I ask each guest: Who are the People, what Property, and which Place they would invest in if they had £500m at their disposal? José's answer did not disappoint 👌 Got any thoughts or questions about this podcast? Drop them in the comments — I'm always up for a chat! And if you're enjoying what I'm putting out, don't forget to hit subscribe and turn on the notification bell so you never miss an episode. The People Property Place Podcast is powered by Rockbourne – Recruiting Leadership & Future Leadership hires for Real Estate Funds, Owners, Investors & Developers. 🔊 LIKE ➡ SHARE ➡ SUBSCRIBE 👉 http://peoplepropertyplace.com/

Building a Pan-European Real Estate Powerhouse | Christophe Garbe (GARBE) Subscribe To My Channel For More Videos: 👉 http://peoplepropertyplace.com/ Hey Everyone, Welcome Back! What does it take to scale a family-run development business into a €15 billion pan-European real estate platform? This week, I sat down with Christophe Garbe, Managing Partner of GARBE, to unpack how he grew the company from its Hamburg roots into one of Europe's leading logistics and real estate players — now operating across 13 countries with 21 offices. Christophe shares his journey from joining the family business to taking over the UK arm just before the Global Financial Crisis, rationalising the platform, and spearheading GARBE's "2.0" strategy — doubling down on logistics, expanding into residential and science & tech, and building out a European development and fund management engine. We explore how GARBE has navigated shifting market cycles, why decentralisation has been key to their growth, and how Christophe is positioning the business for the next chapter of European real estate. ⸻ Key Topics Covered In This Episode: ✅ Scaling Across Europe – From Hamburg beginnings to a €15 billion platform spanning 13 countries ✅ Crisis Leadership – Taking over the UK business on the eve of the GFC ✅ Strategic Evolution – Logistics, residential, science & tech, data centres and beyond ✅ Decentralised Model – Empowering local teams to drive accountability and growth ✅ Lifelong Learning – How studying at Harvard sharpened strategic thinking despite dyslexia ✅ Market Outlook – Navigating uncertainty and spotting opportunities across European markets ⸻ Oh, and one last thing… In every episode, I ask each guest: Who are the People, what Property, and which Place they would invest in if they had £500m at their disposal? Christophe's answer did not disappoint 👌 Got any thoughts or questions about this podcast? Drop them in the comments — I'm always up for a chat! And if you're enjoying what I'm putting out, don't forget to hit subscribe and turn on the notification bell so you never miss an episode. The People Property Place Podcast is powered by Rockbourne – Recruiting Leadership & Future Leadership hires for Real Estate Funds, Owners, Investors & Developers. 🔊 LIKE ➡ SHARE ➡ SUBSCRIBE 👉 http://peoplepropertyplace.com/