Season 8, Episode 6: Today, we sit down with Jim Corl, Executive Vice President and Head of Private Real Estate at Cohen & Steers, to break down the relationship between listed REITs and private real estate. Jim explains why public markets often reprice first, why private valuations lag, and how that gap can create major opportunities for investors who know where to look.

Whether you’re interested in REITs, private real estate, shopping centers, apartments, warehouses, or data centers, this episode is a must-listen. Join us as we dive into valuation discipline, sector rotation, and why Jim believes many investors are still stuck in last cycle’s winners.

Shoutout to our sponsor, Lennar Investor Marketplace. New construction rental investments with comps, returns, and underwriting built in.

TOPICS

00:00 - Introduction to Jim Corl and Cohen & Steers
06:00 - Why REITs Became an Institutional Asset Class
12:00 - Buying Residential Lots for 5 Cents on the Dollar
18:00 - Why Public Markets Reprice Before Private Real Estate
24:00 - Apartments, Warehouses, and the Valuation Hangover
30:00 - Why Cap Rates Still Look Too Low in Multifamily
36:00 - The Shopping Center Thesis
42:00 - Walmart, Amazon, and the Future of Retail
48:00 - Industrial Demand and the E-Commerce Slowdown
54:00 - Why Investors Need to Exit Last Cycle Portfolios

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About No Cap Podcast

Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.

About CRE Daily

CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.