Keith Breslauer, founder and managing director of Patron Capital, joins host Raphael Sidelsky to discuss the evolution of Patron into a leading pan-European private equity real estate platform. He shares how the firm built its value-add and opportunistic strategy across Western Europe, expanded into mezzanine credit and separate accounts, and partnered with Mitsubishi Estate to scale the platform. Keith also discusses the importance of governance, disciplined leverage, and local operating expertise, as well as Patron’s charitable housing initiative supporting women and families affected by domestic abuse. The conversation also explores ESG, mid-market opportunities across Europe, and the leadership values that shape Patron’s culture and long-term vision.

00:00 – Introduction

00:35 – Meet Keith Breslauer

03:11 – From Capital Markets to Real Estate

06:58 – Building Patron Capital & Investor Trust

14:35 – Patron’s Business Lines & Investment Strategy

18:44 – Investing Across Europe vs. the U.S.

23:37 – ESG, Student Housing & Office Opportunities

27:48 – Culture, Ethics & Leadership Principles

36:00 – Personal Motivation & Teaching

38:40 – Advice for Young Real Estate Professionals

41:48 – Future of Real Estate & AI Impact

45:00 – Patron Capital Legacy & Philanthropy

47:00 – Personal Philosophy & Gratitude

49:00 – Closing Remarks

Host Raphael Sidelsky sits down with Meredith Marshall, Co-Founder and Managing Partner of BRP Companies, to discuss his journey from electrical engineering at AT&T Bell Labs to building a leading mixed-income and workforce housing platform. He explains how BRP has grown into a multi-billion-dollar developer by focusing on the “missing middle,” leveraging public-private partnerships, tax credit financing, and institutional capital.

Meredith shares insights into transformative developments in Jamaica, Queens and Harlem, including the Urban Empowerment Center, and highlights the importance of transit-oriented development and policy alignment to address housing shortages. He also reflects on scaling BRP alongside major partners such as Goldman Sachs Urban Investment Group, his leadership philosophy of empowering teams, and how innovation and disciplined execution are shaping the future of urban development.

00:00 – Podcast Introduction
00:35 – Meredith Marshall’s Career Path
03:40 – Lessons from Investment Banking
04:45 – Investing Across Africa
06:10 – Founding BRP Companies
07:30 – Partnership with Goldman Sachs
08:45 – BRP Today
10:10 – The “Missing Middle” Housing Opportunity
12:30 – Housing Constraints in New York
15:15 – Transit-Oriented Development Strategy
17:00 – Jamaica, Queens Development Case Study
21:40 – Urban Empowerment Center in Harlem
26:20 – Site K at the Javits Center
30:00 – Closing Thoughts and Future of Housing Development

Raphael Sidelsky sits down with Anar Chudgar, Co-President of Artemis Real Estate Partners, to discuss her journey from investment banking to leading a $12 billion real estate platform. She shares how Artemis differentiates itself through middle-market investing, emerging manager partnerships, and a strong focus on healthcare and senior housing.

The conversation explores today’s higher-rate environment, the shift from credit-driven returns to equity opportunities, and valuation disconnects between public and private markets. Anar also discusses Artemis’ strategic partnership with Barings and MassMutual, how the firm maintains flexibility across asset classes and geographies, and why empathy, patience, and proactive leadership are critical to investing successfully across cycles.

00:00 — Introduction and Artemis overview

02:40 — Career path from investment banking to real estate investing

06:30 — Building and scaling Artemis Real Estate Partners

12:00 — Strategic partnership and platform growth

16:00 — Senior housing and alternative sector investment strategy

24:15 — Market cycles, credit vs. equity, and investment timing

27:45 — Technology, leadership, and career advice

33:00 — Final reflections and closing

In our first episode of Season 2 of the Real Estate Forum Podcast, host Raphael Sidelsky sits down with Hossein Fateh, Founder and CEO of CloudHQ and Cloud Capital, to explore the evolution of the data center industry and why it has become one of the most durable and strategically important asset classes in real estate.

Hossein shares his journey from navigating real estate bankruptcies during the dot-com crash to co-founding and taking public an early data center REIT and ultimately building a global data center platform. He breaks down the fundamentals of powered land, long-term tenant relationships, and development yields, while addressing AI-driven demand, infrastructure constraints, financing innovation, and the myths around data center obsolescence. The conversation offers an inside look at the capital markets, operational discipline, and long-term thinking required to build and sustain digital infrastructure at global scale.

00:00 – Introduction
00:35 – Guest Introduction
01:33 – Early Career and Lessons
02:00 – Building CloudHQ
06:10 – DuPont Fabros Technology
14:58 – CloudHQ and Cloud Capital Today
20:28 – Infrastructure Demand Shifts
26:35 – Community and Environmental Concerns
31:59 – Economic Metrics and Underwriting
40:33 – Global Expansion and Risk Management
42:21 – Long-term Ownership and Exit Strategies
46:46 – Technological Advancements and Obsolescence
56:31 – Future of CloudHQ and Cloud Capital
61:58 – Closing Thoughts and Recommendations

Welcome to Season 2 of the Real Estate Forum, a podcast from the Paul Milstein Center for Real Estate at Columbia Business School.

Home to Columbia’s renowned MBA Real Estate Program, the Milstein Center serves as a platform for thought leadership and exchange, connecting world-class faculty and deep industry expertise in the heart of New York City.

Hosted by Raphael Sidelsky '99, this season, we go deeper into the forces reshaping today’s real estate landscape—through timely conversations with industry leaders, investors, operators, and developers, alongside insights from Columbia Business School’s world-class faculty and original research from the Milstein Center’s Research Lab.

From capital markets and development to innovation, strategy, and sustainability, Season Two explores the ideas and decisions defining what comes next for the built environment.

Whether you’re a real estate professional, investor, student, or simply passionate about cities and the spaces we inhabit, the Real Estate Forum delivers informed perspectives from one of the world’s leading real estate programs—based in New York at the center of the global capital markets.
Subscribe wherever you get your podcasts and join us for Season Two.

The Real Estate Forum podcast is produced by The Podcast Consultant with special thanks to Executive Producer Maria Fera.

In this special episode of the Real Estate Forum podcast, two of Columbia Business School’s most distinguished economists, Glenn Hubbard, Dean Emeritus of Columbia Business School, and Abby Joseph Cohen, Professor at Columbia Business School and former Chief Investment Strategist at Goldman Sachs, came together on December 2, 2025, for a timely economic briefing at the 18th Annual Columbia Business School Real Estate Symposium on Columbia Business School’s Manhattanville campus.

In a wide-ranging and candid conversation, Glenn and Abby examine the state of the U.S. and global economy through the lens of real estate. They discuss the macroeconomic forces shaping capital markets, the evolving policy environment, interest rate expectations, and the structural shifts influencing asset values and long-term investment strategies. The discussion highlights both the headwinds and opportunities facing real estate investors, owners, and operators as they navigate today’s complex economic landscape.

In this episode of the Real Estate Forum, host Raphael Sidelsky interviews Adam Gallistel, co-CEO and CIO of CBRE Investment Management. They discuss Adam's experience in global real assets investment, his insights on market cycles, and CBRE IM's strategic positioning in the evolving landscape of real assets. Adam shares his thoughts on the importance of humility, preparation, and flexibility in investing, as well as the cultural and strategic advantages of CBRE IM. The conversation also covers the opportunities in digital infrastructure, the US and European real estate markets, and the potential for retail capital inflows into alternatives.

00:00:00 Introduction and Guest Introduction
00:05:00 Adam's Experience and Insights
00:10:00 Investment Philosophy and Strategy
00:15:00 Opportunities in Digital Infrastructure
00:20:00 US and European Real Estate Markets
00:25:00 Retail Capital and Future Trends
00:30:00 Career Advice and Personal Insights
00:35:00 Conclusion and Closing Remarks

In this episode of the Real Estate Forum, host Raphael Sidelsky sits down with Jonah Sonnenborn, Head of Real Estate at Access Industries, to discuss his journey from investment banking to leading a global real estate portfolio. Jonah shares Access Industries’ strategic approach to building and managing iconic properties worldwide, highlighting landmark projects such as Faena District, One High Line, The Ocean Club, and Grand Hotel du Cap Ferrat.

The conversation covers the role of placemaking in creating lasting value, the balance between trophy assets and recurring platform plays, and the importance of long-term vision, hands-on leadership, and strategic partnerships in shaping the future of global real estate investing.

Photography Credit: Jonah Sonnenborn photo by Sasha Maslov.
Chapters:

(00:00:00) Introduction to the Real Estate Forum
(00:00:35) Meet Jonah Sonnenborn
(00:02:16) From Investment Banking to Real Estate
(00:07:59) Building Access Industries’ Real Estate Platform
(00:08:51) Case Studies: Faena District and One High Line
(00:13:29) The Ocean Club and Grand Hotel du Cap Ferrat
(00:16:45) Balancing Trophy Assets and Platform Plays
(00:19:04) Navigating Real Estate Challenges
(00:20:06) The Role of Placemaking
(00:20:56) Team Building and Strategic Partnerships