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Recently, a lot of investors have been asking me about capital preservation. In these uncertain times, people are rightfully concerned about protecting their wealth.
Anybody can buy market exposure and rise with the tide. But the best investors make a heck of a lot more money, and they do it by being consistent over time.
I am frequently asked how Alliance approaches valuation. We recently published a longer explanation of real estate valuation methods.
For more than a year, we’ve seen interest rates rising. Now that they seem likely to stabilize, what does that mean for the market? Higher interest rates are associated..
The news recently has been full of stories about China’s mounting troubles. Youth unemployment is skyrocketing. At least one very large real estate company is bankrupt.
In recent years, I’ve heard more people saying some version of your network is your net worth. I don’t entirely agree, but they have a point. Relationships..
After more than a year of steadily increasing interest rates, the Federal Reserve (the Fed) announced another slight rate increase in July. Will we see more..
A few months ago I wrote about real estate conversions. That piece prompted several questions from investors that I wanted to address: First, some quick background: when a..
Over the last few years, the healthcare industry has started taking cues from retail. This is a win-win for consumers (i.e. patients) and long overdue.
Fear of vacancy runs deep for many commercial property owners. A looming lease termination date means uncertainty, and often difficult negotiations.
Investors must track and manage risk. This has been a key part of Alliance’s 25 year track record of winning in all market conditions. The highly respected commercial..
Many people find demographics boring - just another kind of statistics. I’m not going to bore you with math or charts, but let’s talk about how powerful demographics can be.
Leadership If there is a secret to business, this is it: Put energy into creating value, in addition to capturing value...
Success has many parents but failure is an orphan. Anyone who’s spent time working a bureaucracy has seen how this…
Nothing is more important to the success of a growing business than building a great team. But finding the right people…
Thoughtful, sincere praise might be the most underutilized gift leaders can give. Everybody wants to feel that they are valued,…
I heard a quote recently that really resonated with me. “Creativity starts with an empty calendar and ends with a full…
Media has been filled with stories about “quiet quitting”. These stories often have a tone of indignation: what is wrong…
What’s the secret to your success? You hear questions like this all the time these days… at networking events, podcast…
Business leaders have earned their stripes. We’ve honed our business judgment through years of experience and wins. But exercising good…
For years, I built Alliance incrementally. Deal by deal. Of course, that’s the only way to do it… but at…
I’m always looking to grow as a person. Sometimes life throws you challenges to overcome… and other times an idea…
“Attention is the cash value of your time” – Sam Harris I love this line. I believe it carries a…
These last few years, I have been extremely focused on taking Alliance to the next level. It’s been quite a journey,…
A few times recently, I came across this saying called the serenity prayer. It goes “grant me the serenity to accept…
One of my favorite parts of the December holiday season is that it’s a perfect time to reflect on the progress…c
You can tell a lot about companies by watching how they make decisions. Clear, decisive, accountable leadership nearly always leads…
Some people say that “culture” is a made up idea. Or that it’s ambiguous and subjective. I disagree. Anyone…
It’s been more than two months since the hot war between Ukraine and Russia began. The outcome to date has…
Businesses across the country are seeing surges of demand. America is increasingly open for business, and businesses are hiring. Today’s tight…
Life is short, and best lived when enjoyed. For me, the pandemic was a reminder of this fact. There are no…
Is an engineering degree the right degree? What is the best job out of college? These kinds of questions have come…
The last few years have been turbulent. Even beyond the pandemic, our politics, culture, and economy are changing fast. While some…
Business leaders have earned their stripes. We’ve honed our business judgement through years of experience and wins. But exercising good judgement…
As many companies officially return-to-work, organizations are finally rethinking stale conventional wisdom about how things get done. Should everybody return to…
Politics are very polarized these days, and unfortunately that is bleeding into the workplace. This can be a challenge, but it’s…
These days, I hear a lot of pessimism about the future. There are always valid reasons to worry, but I…
The great economist Milton Friedman once said: the business of business is business. It’s a zany one-liner that gets at something deeper, in particular on government regulation.
These days, it can feel like everybody is trying to sell something. Usually that’s no problem, but a magnetic salesman can tempt people into making bad decisions.
I know I’m not the only one who has choked on my coffee when I opened a lawyer’s invoice. Simple services should not be so damn expensive. Of course, we..
I’m excited that some environmental deregulation seems to be on the way. Lighter regulation means easier development, greater deal flow, and higher profit.
Summer travel plans have been upended, but that doesn’t mean you should stay home.I believe that in these stressful times, it’s more important than ever to get away.
In this time of hardships, America needs sports.Sports have a special place in our society. They offer us compelling drama, role models, novelty, and bring a community together.
Warren Buffet wisely said that price is what you pay, value is what you get. Are traditional MBA programs really delivering value? The marketplace is finally..
I love sports, and not for the usual reasons. While I played as a kid and I still have a few favorite teams, what really keeps me interested is the way athletics highlight..
All of today’s amazing technology was supposed to make us all smarter, healthier, and more productive. What happened?Compared to what I grew up..
Tesla is at risk of going out of business. This electric car pioneer has raised new capital every year since its 2010 IPO, and they’re still posting massive losses.
The College Board’s plan to add Adversity Scoring to the SATs is questionable. It means scoring people on the circumstances of their birth, rather than the content..
Technology has recently started to overlap with personal health in powerful ways. These new innovations could offer new avenues for self-improvement and productivity boosts.
I’m concerned about kids and video games.I see friends worrying about what their teenage kids do when they are not at home. In my opinion, a bigger..
There’s a recent business trend where companies are making big statements that seem designed to go viral. In today’s highly polarized environment, diving..
Recent news reports tell us that smartphone sales are slowing. This is terrible news for Apple, but it might be good for the rest of us. Life still happens in the..
There are a variety of ways to get ahead in life. While nothing beats getting lucky, most of us have to work for it. We can work hard, or we can work smart.
Success comes from actively shaping your own destiny. Even downtime is an opportunity to engage in your life and invest in your future. The demands of..
The value of data is rising, and so are major hacking incidents. We’ve seen a steady parade of data breaches, from Anthem to Yahoo and JP Morgan Chase to Target.
It’s crazy how fast time flies by. My eldest son recently left to start college at the University of Southern California. I’m excited for him as he starts this new chapter of life.
My grandfather used to say that opinions are like ***holes, everybody’s got one. Thanks to social media, anybody can broadcast their opinions wide and far..
In recent years, I’ve seen a troubling trend toward protecting kids from unfairness and anything that might make them feel bad. I applaud the sentiment — we all..
For cutting through all the digital noise, there’s still nothing like face-to-face interaction. Some people might call it wasteful to travel by for a conversation when..
World Cup fever is here. While Team USA failed to qualify this time, we’ve just been selected to host (along with Mexico and Canada) the 2026 tournament.
The internet is powerful because it connects us to each other. By the same power, it also connects different parts of our lives together. Everything we do..
It drives me crazy that the word diet is so loaded with baggage. “Diet” commonly means self-denial, crappy food, ridiculous promises of miracle results, crank science..
It’s been two and a half months since many of us made New Year’s resolutions and I’d bet that most of us are continuing right where we left off last year.
Everybody wants to know the secret to success in life. I won’t pretend to have all the answers, but I do have a worldview that has helped me get where I’ve always..
The ideal vacation is more than just a rest, it’s an opportunity to continue growing. I want my holidays to complement the rest of my life and fill in the gaps that I’m missing..
Some might call this heresy, but I think watching sports on TV is largely a waste of time. TV viewing, including sports, is a passive activity. When we’re looking at a TV..
The healthcare industry is under pressure to be more cost efficient – a key trend that Alliance is tracking. An aging baby boomer population is moving..
Commercial real estate services company CBRE recently released their report on the state of the real estate market in 1Q23: here The report largely confirmed things..
As many news readers know, there is a significant shortage of nurses. What is going on? There are multiple reasons why demand..
A recent study highlights that there are more large MOBs under development than ever before. This study was conducted by 42floors (here). The study is interesting..
Commercial real estate services company CBRE conducted a survey of industry professionals in 2H 2022. This CBRE report focuses on one..
It’s no secret that commercial real estate transactions have slowed recently. Inflation, higher interest rates, and other macro factors are slowing down the market.
Medical facilities often cluster together near hospitals. This is still the case… but there is an interesting sub-trend that Alliance is dialed in on.
If you don’t know where you are going, any road will get you there. This line from the childrens’ book Alice in Wonderland contains an essential truth.
An important real estate trend that I have followed closely is the national residential housing shortage.This shortage has been driving up home..
Disruptive events like the pandemic always create their own winners and losers. The difference between commercial real estate portfolios that..
Property insurance is priced according to the underlying risk, right? That’s the idea, but many would be surprised at the distortions that can occur in some markets.
Some places care a lot about getting things done, other places are tied up in knots of red tape. Since Alliance invests in commercial real estate across..
Culture is super important for building high performing teams. It’s also widely misunderstood.Most organizations try to shape culture through policy.
Alliance focuses on investing in properties with strong fundamentals and then adding value to the properties we manage. But it’s impossible to eliminate..
To succeed in business, strong teams are essential. There is no recipe for building a common culture and shared sense of purpose. Companies try all..
Years in business have taught me that few things are as critical to success as building a great team. High performing organizations have some common traits.
The subject of high performance is a frequent topic in my world. Why? Well, when you accomplish your goals in any given year this requires a tremendous..
It is time again for our monthly Q & A Q: Ben, I respect what you do and admire you as a principal. I had a bad partnership experience in the past.
One of the fundamental errors in real estate investing is to ignore the risk of long term vacancy. Everybody knows to look at zoning, property prices..
There are many paths to a great investment. The key is finding a place where you understand the upside and risks better than your competition.
This New Year, I’m thinking about how to lead a more mindful and intentional life… including wasting less time on mindless activities, and on goals that aren’t true priorities.
I often hear people say: data is the new oil. Artificial Intelligence (AI) is moving into more and more areas of the economy, and the fuel for AI is data - and lots of it.
Technology is changing the world incredibly quickly. I’m excited to see where it takes us in the coming years.One fact that illustrates just how quickly technology..
Over the last year, a shortage in computer chips has hobbled production of a wide variety of popular products like cars, phones, and gaming consoles.
Over the last few months, I’ve noticed a lot of stories about cybersecurity breaches. In technology and beyond, change creates opportunities for some and risks for others.
Many people in the media and politics are pushing to punish Big Tech for their various “crimes” and transgressions. There’s a lot of anger in the air, and with so much..
I’m always on the lookout for new risks to Alliance’s business. Usually, they’re deal-specific, but recently I’ve been looking at something bigger. An important piece..
Real estate has long been considered a great way for investors to diversify their portfolios and mitigate against the risk of stocks, bonds, and more traditional equities.
The senior housing industry was already facing several changes ahead of the COVID-19 pandemic. Some of these challenges would go on to become even
Cap rates may be compressing among certain real estate product types, but that has not kept investors on the sidelines. Instead, more investors
The COVID-19 pandemic has brought a heightened awareness of the importance of America's healthcare system. In turn, many investors are paying closer
In real estate, it is not uncommon to see two developers offer to pay two wildly different sums for the same exact property. How can one justify the price
With cap rates compressing among other property types, a growing number of real estate investors are turning to medical office in search of yield. Indeed, there..
Yield-seeking investors, or those otherwise looking to diversify their real estate holdings, will certainly want to consider opportunities in the medical office space.
The past year and a half have been enlightening for several reasons. One lesson learned: there’s no better time to own medical office real estate than during..
It is hard to turn on the TV or scroll through your social media feed and not see something about real estate. Whether it is flipping houses, being a landlord..
Medical office building investments are similar to the purchase and sale of most other income producing commercial properties. What differentiates medical..
With the stock market at or near all-time highs, more investors are looking to mitigate risk by diversifying their portfolios through some combination..
Every investment class is prone to experience some levels of volatility, and real estate is certainly no different. Volatility refers to a given investment’s..
Medical office properties, once considered a commercial real estate industry niche, have moved into the spotlight in the wake of the COVID-19 pandemic.
One of the most important aspects of finding success in any investment class is knowing when to strike. Market trends, projections, and forecasts..
There’s no doubt that COVID has left its mark on the healthcare industry. There were significant disruptions to service delivery early in the pandemic..
The healthcare real estate market continues to prove its resiliency, most recently, in the wake of the COVID-19 pandemic. There was a brief pause..
The healthcare industry is one of the nation’s fastest-growing industries and today compromises an estimated 20% of the national GDP. This isn’t lost..
The healthcare industry is rapidly evolving, and in turn, demand for certain types of medical properties is changing. As a result, Healthcare real estate..
Beauty is in the eye of the beholder. That famous line about subjectivity applies not just at the art auction and on the dating scene but also to buyers..
Investors looking for an alternative to stocks often turn their attention to bonds or real estate. Both asset classes are important pieces of a diversified..
There are many flavors of lease agreements in commercial real estate. For investors who operate commercial space for rent, the lease is a basic building..
We won’t tell you that investing in commercial real estate is a guaranteed path to wealth. But we can say that property ownership is a proven and..
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Medical office buildings are an often overlooked asset because most real estate investors simply do not understand the nuances of this property type.
Real estate investors looking to diversify their portfolios are increasingly considering medical office properties. Once considered a relatively niche sector..
Real estate has long been considered a great way for investors to diversify their portfolios and mitigate against the risk of stocks, bonds, and more..
