Market Conditions, Private Credit, Pref Equity - Dean Adler - Co-Founder @ Lubert-Adler Partners

Dean S. Adler is CEO and Co-Founder of Lubert-Adler Partners, L.P., a real estate equity firm with over $9 billion in equity raised. Dean is the Head of the Investment Committee and is responsible for leading the strategic direction of the team. He is also an Executive Committee Member and Research Sponsor for the Zell/Lurie Real Estate Center of The Wharton School and a member of the Board of Directors of the Dominion Real Estate Company.

On this episode, Chris & Dean discuss:
- Analyzing the current market
- How to vet folks looking for private credit
- Thoughts on Office as an asset
- Accidentally building a grocery empire

Topics:
00:00:00 - Intro
00:00:43 - What are you thinking right now about capital markets?
00:03:15 - Is there another cycle you could compare to today’s environment?
00:05:10 - How do you think banks are thinking about upcoming renewals?
00:10:53 - What needs to happen to normalize the market?
00:18:19 - What are you seeing in fundraising?
00:20:18 - How are you vetting folks looking for a private credit deal?
00:32:57 - Thoughts on the Office Asset class
00:44:09 - Does high levels of institutional investment in office affect the market?
00:48:38 - Is there an asset class today that’s dying but no one knows?
00:53:29 - How did you end up in the grocery business?
01:04:04 - Is it possible to still pursue an opportunity like you did with Albertson’s today?
01:09:53 - Looking back, what do you wish you had focused on more?

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