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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…

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…

Why Pacing Often Matters More Than Pricing Real estate sponsors often devote enormous attention to entry basis. Less attention is given to capital pacing. But in long-horizon development, capital timing frequently exerts more influence on outcomes than headline pricing assumptions. This is why sophisticated platforms increasingly emphasize staged capital deployment,…

Los Angeles is treating the LA 2028 Olympics legacy city building opportunity as a long-term catalyst rather than a short-lived spectacle, with infrastructure and housing investments explicitly designed to avoid the “ghost venue” pattern of past Games. Every Olympic cycle, cities promise transformation. New stadiums, shiny villages, and billions in investment are…