Tyson Dirksen

Why Key-Man Exposure Becomes Structural in Extended Timelines In early-stage real estate ventures, founder involvement is often viewed as a strength. It signals conviction.It suggests alignment.It can accelerate early decision-making. But in long-cycle real estate development, what begins as founder intensity can quietly evolve into structural fragility. When timelines extend…

In long-duration real estate capital, the primary risk is not volatility. It is a duration miscalculation. Developers often underwrite cost, absorption, and exit multiples with precision. What is underwritten far less rigorously is time. Resort platforms.Ecological hospitality.Entitlement-heavy mixed-use.Mass-timber infill development. These are not short-cycle capital rotations. They are multi-cycle capital…

Why Decision Systems Fail Before Projects Do Most real estate post-mortems focus on capital structure or market timing. But in long-cycle development, governance failure is often the earlier signal. Projects rarely collapse in a single moment. They degrade through a series of small decision delays, misalignments, and unforced errors that…