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On this episode of Bisnow Reports, we sit down with Lauren Hochfelder, the co-CEO and head of Americas for Morgan Stanley Real Estate Investing, the private real estate investing arm of the banking giant.
Hochfelder began as an analyst at Morgan Stanley in 2000, working her way through MSREI until she was named head of the Americas division in 2016 and appointed to the co-CEO role in February.
On the episode, she speaks about the macroeconomic environment, the shifts in Morgan Stanley’s real estate portfolio since the Global Financial Crisis and how the real estate industry as a whole may have to change the way it makes money.
"The industry overall has seen the greatest share of value appreciation from cap rate compression [in recent years]," she said. “We certainly cannot rely on that going forward — and in fact, the complete opposite.”
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