Month: February 2026

Real estate deal governance determines what happens after the plan breaks. Most real estate deals don’t fail because they run out of capital.They fail because no one is clearly empowered to act when pressure shows up. In good markets, weak governance hides easily. Pro formas pencil. Timelines feel flexible. Alignment…

Stress-tested investing for institutional capital has become the single most important filter for evaluating deals, partners, and long-duration projects. After multiple cycles, I’ve learned that experience under pressure—not smooth performance—determines whether capital is preserved when markets turn. Earlier in my career, I paid attention to headline returns. Today I focus…