Terry Considine on REIT market
From Building Better Communities with Bob Hart // Season 3: Ep 3: Terry Considine · · TruAmerica Multifamily
“The reason there's not a lot of new public REITs is that the entrepreneurs... lend themselves to entrepreneurs... they are more attracted to the private market because it's a better opportunity and they have just as good an access to capital as if they were public.”
On , Terry Considine, Founder, Chief Executive Officer & Director at APARTMENT INCOME REIT CORP, spoke about REIT market during Building Better Communities with Bob Hart // Season 3: Ep 3: Terry Considine on TruAmerica Multifamily.
About Terry Considine
Terry Considine, founder and CEO of Big 4 Properties and former CEO of Aimco and AIR Communities, has been discussing his career and current approach to the multifamily real estate industry in two recent podcast appearances. On the podcast "Building Better Communities with Bob Hart," Considine described his experience navigating regulatory challenges and market cycles, stating that "the areas of the country that have the lowest rents that are most affordable" are in "competitive red states where builders can build and take entrepreneurial risk." He also said that current regulations are "problematic for the housing industry" and that they prevent third parties from investing capital. On "The Rent Roll" podcast, Considine discussed his focus on cost discipline and selecting locations with "predictable demand" while considering "political risk," noting that jurisdictions where government plays a large role in allocating resources tend to be "high cost." Considine also reflected on his career and leadership philosophy. He said that he learned more and built more character during down periods than up periods, and that his focus at Aimco shifted to measuring customer satisfaction after concluding the company lacked "relevant scale" compared to firms like Microsoft. He described his motivation as providing "a place for people to recreate and refresh and have families," citing his upbringing as one of 11 children. Considine added that he tells young professionals that they "will learn more and build more character in a down period than you will in an up period."