Investing Through The Real Estate Cycle

Harbert Management Corporation is reducing the pace of its multifamily acquisitions—and ramping up its retail deal flow—as it responds to the weight of capital targeting U.S. commercial real estate. Senior managing director Jon–Paul Momsen talks about the firm’s strategy in retail, how Harbert—despite doing fewer multifamily deals—is getting more creative in the sector and taking on assumable debt, and how the firm is underwriting the next recession.