Devin Combs

Much has been written about the traditional characteristics of real estate such as cash flow, tax efficiency, inflation protection, diversification. Those elements are real, and important. But they’re not exhaustive. To understand why real estate has been used across time, market regimes, and investor types, we need to go deeper. What makes it structurally valuable? Conceptually durable? Why does it continue to earn a meaningful place in long-term portfolios from sovereign wealth funds to...

There are many ways to invest in private real estate, including owning the asset directly. But for individuals, one of the most common and accessible options is through investing as a Limited Partner - think passive investor - in a deal that is operated by someone else. When considering this investment path, it's important to understand how this structure works, what it means for your returns, risk, and responsibilities, and how to evaluate these opportunities intelligently. The Structure: GP...