People Property Place

In this episode of the People Property Place podcast, Harm Meijer draws on decades of experience across listed real estate and capital markets to unpack how cycles really play out when sentiment turns and leverage starts to bite. From his early career on the sell side to building ICAMAP, Harm explains why investors repeatedly misjudge market turning points, how incentives inside listed vehicles quietly shape long term outcomes, and why management alignment often matters more than the assets themselves. He reflects on the lessons learned during the Global Financial Crisis, the risks of catching falling knives, and the discipline required before capital is redeployed. The conversation also explores why listed real estate remains structurally misunderstood today, how private equity is exploiting inefficiencies in public markets, and what most investors get wrong about liquidity, exits, and governance. Harm shares how these insights influence ICAMAP's approach across strategies, and why conviction must be grounded in fundamentals rather than narratives. A clear, experience led discussion on risk, capital allocation, and how People, Property and Place intersect inside real estate investing. Real Estate Rules: The Investor's Guide to Picking Winners and Avoiding Losers in Listed Property - Amazon Link The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers. 🔊 LIKE ➡ SHARE ➡ SUBSCRIBE 👉 http://peoplepropertyplace.com/

This week, I sat down with Martin Towns to unpack a career built across brokerage, private equity, institutional fund management, and now global leadership, and what it takes to scale a real estate investment platform across multiple cycles and geographies. Martin is Global Head of Real Estate at M&G, responsible for the strategic direction and growth of a real estate business managing approximately $50bn of assets across 26 countries in Europe, Asia and North America. He has more than 20 years' experience in real estate investment management, including 15 years at M&G, and previously held roles at Close Brothers Investment Bank and Jones Lang LaSalle. In this conversation, Martin shares how growing up in rural Scotland led him into Land Economy, why his early years at JLL and Close Brothers shaped his understanding of risk and cycles, and how living through the Global Financial Crisis fundamentally influenced his approach to leverage, structuring and downside protection. We discuss why he joined M&G when the platform was still UK focused and internally funded, and how proprietary capital was used to seed strategies that later scaled into global third party businesses. Martin explains the evolution of M&G's residential and living platforms, the creation of its Capital Solutions business for large institutional investors, and the strategic thinking behind acquiring value add specialist Beaumont. We also explore investor behaviour across regions, the return of capital to core real estate, how global LP preferences are shifting, and what leadership looks like when you move from doing deals to setting strategy at scale. Key Topics Covered in This Episode ✅ From Rural Scotland to Global Real Estate Leadership How Martin's early career choices and formative experiences shaped his long term investment philosophy. ✅ Lessons from the GFC Why understanding cycles, leverage and macro risk remains critical for institutional real estate investors. ✅ Building a Global Platform at M&G How internal life assurance capital helped seed strategies that later scaled into multi billion pound global funds. ✅ Living, Capital Solutions and Value Add Why residential and living assets became institutionalised and how bespoke mandates and co investment changed M&G's growth trajectory. ✅ Acquiring Beaumont The rationale behind adding value add capability and how to integrate specialist teams without destroying culture or performance. And of course, I asked Martin the big question: Who are the People, what Property, and which Place would you invest in if you had £500 million to deploy? If you have thoughts or questions about this episode, drop them in the comments. I'd love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers. 🔊 LIKE ➡ SHARE ➡ SUBSCRIBE 👉 http://peoplepropertyplace.com/

This week, I sat down with Randeesh Sandhu to unpack a career that spans investment banking, real estate development, private credit, and public markets, and what it really takes to build a durable lending platform across multiple cycles. Randeesh is Co-Founder and CEO of Precede Capital Partners, founded in 2021 as a portfolio company of TowerBrook Capital Partners. Prior to Precede, he co-founded and led Urban Exposure Plc for nearly two decades, growing it into the UK's leading residential development financier. Under his leadership, the business deployed more than £1.7bn in development finance and over £3bn in real estate finance, before floating on the London Stock Exchange AIM market in 2018. In this conversation, Randeesh shares how he moved from credit derivatives at Deutsche Bank into real estate entrepreneurship, why underwriting discipline matters more than chasing deals, and how the post-GFC withdrawal of banks created the foundations of the UK's non bank lending market. We also discuss the realities of scaling a private credit platform, lessons from public markets, the personal cost of leadership, and how Precede is now positioning itself across large scale, living led real estate in the UK and Europe. Key Topics Covered in This Episode ✅ From Deutsche Bank to Real Estate Entrepreneur Why Randeesh left investment banking to build a property business and how that early leap shaped his approach to risk and conviction. ✅ Building and Scaling Urban Exposure How the platform evolved from equity and development into private credit, and what it takes to deploy billions without capital loss. ✅ Private Credit After the GFC Why non bank lenders emerged, how structured lending works in practice, and what institutional investors look for today. ✅ Lessons from Public Markets What Randeesh learned from listing on AIM, navigating volatility, and why private ownership can better support long term strategy. And of course, I asked Randeesh the big question: Who are the People, what Property, and which Place would you invest in if you had £500 million to deploy? If you have thoughts or questions about this episode, drop them in the comments. I'd love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers. 🔊 LIKE ➡ SHARE ➡ SUBSCRIBE 👉 http://peoplepropertyplace.com/

Europe's Housing Imbalance and the Living Opportunity with Tom Livelli, Partner and Head of Living Strategies, Europe at EQT Real Estate This week, I sat down with Tom Livelli to dive into how Europe's chronic housing undersupply, shifting renter behaviour, and capital rotation are shaping one of the most compelling living strategies in global real estate today.   Tom is a Partner with EQT Real Estate and Head of Living Strategies, Europe, based in Madrid. Before EQT, he helped build Greystar's South American business from a laptop in a Santiago coffee shop into a billion dollar platform, and previously led large scale residential and mixed use projects in the US, Latin America, and Central America. His career spans military housing, emerging markets, and now a pan European living platform backed by EQT's active ownership model.   We unpack how his experience across eleven countries informs his view of risk, liquidity, and political stability, why Europe's living sector now offers "higher return for lower risk," and how EQT is designing product, operations, and capital structures for the next phase of the cycle. Key Topics Covered in This Episode ✅ Building a Pan European Living Platform How EQT Real Estate has assembled a vertically integrated but not overbuilt living strategy across student housing and apartments, with local teams on the ground and a value add focus across multiple European markets.   ✅ From Military Housing and Central America to Greystar and EQT Why Tom's early work on military housing in the US, community building in Central America, and scaling Greystar in Chile gave him a deep appreciation for stable institutions, liquidity, and the realities of operating in emerging markets.   ✅ Designing a Higher Return Lower Risk Living Model How EQT is targeting urban, transit connected locations with minimal amenities, smaller minimum efficient scale, and lean operations to lower upfront investment, lift NOI margins, and tap deeper, more resilient segments of tenant demand.   ✅ Europe's Structural Housing Imbalance Why affordability pressures, later first time homeownership, and longer rental periods are driving an extraordinary surge in rental demand across Europe, and why Tom believes this supply demand gap gives the living sector significant room to run.   ✅ Capital, Cycles, and Europe versus the US How global institutions are viewing Europe relative to the US today, why accretive debt and repricing are creating a window for value add capital, and where Tom sees the most interesting opportunities by country and sector over the next few years.   And of course, I asked Tom the big question: Who are the People, what Property, and which Place would you invest in if you had £500 million to deploy? If you have thoughts or questions about this episode, drop them in the comments. I'd love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers.

The Future of European Real Estate: Strategy, Capital, and Structural Change with Simon Wallace, Head of UK Real Estate & Global Co-Head of Research - DWS. This week, I sat down with Simon Wallace to explore how Europe's real estate landscape is shifting - and what that really means for investors, fund managers, and operators in the next cycle. Simon began his career as an economist before moving into real estate on the eve of the financial crisis. Since then, he has become one of the most influential strategists in the industry, shaping how research informs underwriting, capital allocation, and long-term thematic positioning across Europe. We unpack how his role evolved from research to strategy to leadership, what today's investors truly value, and why the coming decade could be defined by wellness, tech adoption, and a deeper rethink of how cities function. Key Topics Covered in This Episode ✅ From Economist to Strategist - How starting his career during the GFC accelerated his learning and shaped his investment philosophy ✅ Research as a Value Driver - Why research now has a formal voice in investment decisions and how strategy has become central to performance ✅ Building Modern Teams - The behavioural traits, breadth of experience, and challenge culture needed for next-generation research and strategy roles ✅ Structural Themes - How wellness, demographic shifts, and autonomous vehicles could reshape demand, cities, and opportunity sets ✅ Capital & Cycles - Why Europe may be quietly entering a recovery phase and how global capital is viewing the UK, Germany, and the living sectors And of course, I asked Simon the big question: Who are the People, what Property, and which Place would you invest in if you had £500 million to deploy? If you have thoughts or questions about this episode, drop them in the comments - I'd love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers.