Real estate investment strategy has been super challenging in a world of huge uncertainty, sending some to exit the sector, or to flee to the relative safety of industrial warehouses and data centers. Public real estate has performed poorly, while the stock market has reached historic highs. Many seem to predict the demise of the urban center, turning once cherished assets into riskier investments.
But with the advent of vaccines that appear to work, much of this uncertainty has faded, with expectations of a pandemic under control and a rebounding economy by the Third Quarter, and some think even sooner.
With this dramatic shift in outlook, how should a smart real estate investor respond? Fortunately, we have Mary Ludgin to help us figure this out. She has led strategy for Heitman’s successful investments through numerous cycles. This strategy has sometimes been contrarian, seeking pricing disparities relative to her expectations of longer term performance. LAI member Alan Billingsley will host this dynamic discussion.
Please tune in for an informal and enjoyable discussion with Mary!
Mary Ludgin is Heitman’s Head of Global Investment Research. She is a partner of the firm and holds a seat on its investment, valuation, and global management committees. She holds an AB from Vassar College and an MA and Ph.D. from Northwestern University.
Mary was a Global Trustee of the Urban Land Institute and she chaired ULI’s Chicago District Council. She sits on the board of ULI’s Center for Sustainability and Economic Performance. She served as Chair of the Pension Real Estate Association, President of the National Council of Real Estate Investment Fiduciaries, and President of the Real Estate Research Institute. Mary is a fellow of the Homer Hoyt Institute for Real Estate Research and a member of LAI, the honorary real estate society.
Mary was the 2019 recipient of the Pension Real Estate Association’s James A. Graaskamp award, which recognizes researchers whose work contributes to the common body of knowledge regarding real estate investment.
Mr. Billingsley served as head of research and investment strategy for RREEF/Deutsche Asset Management for 14 years, previously consulting in land economics at The Sedway Group and Economics Research Associates. He currently focuses his efforts in managing a moderate sized portfolio of residential investment properties. He continues to pursue his interests in land economics, particularly as they relate to the San Francisco Bay Area. He is an active member of the Urban Land Institute, Lambda Alpha International, Counselors of Real Estate; and SPUR. He serves on the Advisory Board for Sack Properties, a private equity investor in multi-family properties.