The commercial real estate capital markets have evolved significantly over the career of Jay Leupp, portfolio manager with Lazard Asset Management.
"When I began as an equity analyst in the business 20 years ago, the equity market capitalization of the U.S. REIT space was $30 billion. Today, it’s $600 billion, so it has been a 20-fold increase in the United States."

Full Story:

Related Summaries