The complexity and uncertainty of large-scale European real estate repositioning require a unique investment philosophy that traditional underwriting often fails to capture.Successful deal makers must define their alpha by embracing vertically integrated operations and cultural nuances across diverse markets. In this episode, António Dias and Philipp Braunfels discuss how to assess risks in placemaking, the challenge of securing capital for major capital expenditure projects, and why hyper-local execution is essential to transforming underutilized assets into vibrant mixed-use destinations.Our guest is Philipp Braunfels, Managing Director and Co-Head of Europe at Jamestown. He is responsible for overseeing Jamestown’s European investment platform, having been instrumental in establishing and scaling the firm’s presence across the continent.THINGS WE SPOKE ABOUT - Jamestown's vertically integrated placemaking philosophy. - Scaling US repositioning strategy in Europe. - Cultural differences impact European vertical integration. - Underwriting value through 'placemaking special sauce'. - The essential financial discipline of deal making,GUEST DETAILSPhilipp Braunfels is Managing Director and Co-Head of Europe at Jamestown. He is responsible for overseeing the firm’s European investment platform, including acquisitions, asset management, and strategic expansion across the region. He has been instrumental in scaling Jamestown’s European presence, has experience spanning Germany, the United States, and Latin America, and focuses on complex repositioning opportunities and urban mixed-use environmentsWebsite: https://www.jamestownlp.comQUOTESWhat makes a commercial asset really, truly unique in the way we approach this is the atmosphere of the place and the experience you get when you spend time at that place. - Philipp BraunfelsReal estate, in the end, is a hyper local business. It's being boots on the ground, and it's a people's business. - Philipp BraunfelsThe most important thing is to execute financial discipline and stick to your rules. - Philipp Braunfels MORE INFORMATIONHavenstone Capital is a Real Estate Investment and Asset Management firm with a pan-European focus. Leveraging on the team’s extensive experience on both the Equity and Debt markets, Havenstone Capital is dedicated to managing investments across the entire investment cycle in the real estate market by managing and funding real estate projects in various asset classes.Visit our website; havenstonecapital.comThis podcast was produced by dustpod.ioKEYWORDS #Placemaking #RealEstateInvestment #EuropeanRealEstate #VerticalIntegration #AssetRepositioning
The fragmentation of European real estate is creating significant pricing mismatches and complex arbitrage opportunities in the Purpose-Built Student Accommodation (PBSA) sector.The conversation today dives into where capital should be deployed across markets like Germany and Italy, how operational expertise is reshaping lender appetite, and the new institutional requirements defining large portfolio transactions. We also discuss the key lessons on deal-making discipline and the career mindset required to succeed.We recently sat down with John Jacobs, Global Head of Capital Markets at GSA. John brings over 35 years of PBSA history, having been at the heart of GSA’s global scaling to circa €8 billion in assets under management across 11 countries.THINGS WE SPOKE ABOUTGSA's global PBSA specialist focusMispriced PBSA markets across EuropeSponsor view versus debt lender's viewOperational focus attracts equity capitalThe discipline of walking away from dealsGUEST DETAILSJohn Jacobs is the Global Head of Capital Markets at GSA. He has been instrumental in scaling the GSA platform across multiple geographies, helping it grow to circa €8 billion of assets in management. John draws on a long career in banking and investment to bring a strong perspective on capital allocation and risk underwriting in the specialist PBSA sector.Contact John: Linkedin: linkedin.com/in/john-jacobs-56332b18Website: gsagroup.comQUOTESOur view is, look, we've always been specialists in our sector, and we're very happy being in that space. - John JacobsWhat is the doomsday scenario? What is the absolute worst thing that can happen, and what would my exit strategy be? So, you've always got to think about from their perspective. - John JacobsIf you don't have an understanding and or passion for this, then it's probably not for you. - John JacobsKEYWORDS #PBSAInvestment #StudentHousing #EuropeanRealEstate #CapitalMarkets #AssetManagementMORE INFORMATIONHavenstone Capital is a Real Estate Investment and Asset Management firm with a pan-European focus. Leveraging on the team’s extensive experience on both the Equity and Debt markets, Havenstone Capital is dedicated to managing investments across the entire investment cycle in the real estate market by managing and funding real estate projects in various asset classes.Visit our website; havenstonecapital.comThis podcast was produced by dustpod.io
For decades, real estate investors benefited from constantly falling interest rates and predictable cycles, a world that has structurally ended. Today’s environment is marked by de-globalisation, constant volatility, and high-pressure economics, requiring a radical shift in how capital is invested.This episode dives into designing resilient portfolios, navigating Europe’s cash-flow-led recovery, and understanding the vital role of capital formation. We explore the strategic adjacencies of real estate, like digital infrastructure and affordable housing, and the permanent rise of real estate private debt.We are joined by Simon Martin, Senior Partner, Chief Investment Strategist and Head of Research at Tristan Capital Partners. Simon is one of the most widely followed voices on European real estate strategy, connecting the big macro picture with practical capital allocation.THINGS WE SPOKE ABOUTCycles less important due to volatilityDe-globalisation drives strategic regional autonomyCash flow resilience leads U-shaped recoveryReal estate debt offers better collateralFocus on the exit first, not buyingGUEST DETAILSSimon Martin is a Senior Partner, Chief Investment Strategist and Head of Research at Tristan Capital Partners. He is known for connecting macro trends with practical investment strategy, advising on how to allocate capital in high-volatility environments, and having deep expertise in European real estate debt.Contact Simon: Linkedin: linkedin.com/in/simon-martin-48a43620Website: tristancap.com QUOTESWe have to figure out a strategy that allows us to make money through other means, than just through the kind of favourable tailwind of reducing interest rates... - Simon MartinWhat does the future look like? I think it looks more like a world where we have to think about regional economic specialisation... - Simon MartinIf you can't accurately describe what you will be selling and who you will be selling it to, then you don't really have an investment strategy." - Simon MartinKEYWORDS #RealEstateInvestment #EuropeanCapital #PrivateCredit #PortfolioStrategy #DigitalInfrastructure MORE INFORMATIONHavenstone Capital is a Real Estate Investment and Asset Management firm with a pan-European focus. Leveraging on the team’s extensive experience on both the Equity and Debt markets, Havenstone Capital is dedicated to managing investments across the entire investment cycle in the real estate market by managing and funding real estate projects in various asset classes.Visit our website; havenstonecapital.comThis podcast was produced by dustpod.io
The era of traditional residential investment is expanding, creating a gap for alternate living accommodation that demands intense operational efficiency. For investors seeking value in this niche, understanding the shift from pure PBSA platforms to vertically integrated living concepts is critical.This episode dives into how to create value for capital providers through operational intensiveness, strategic capital allocation across European cities, and managing the trade-offs between development and acquisition in today’s environment. Gawain Smart also shares invaluable lessons on underwriting complex deals and the enduring importance of trust in deal-making.We welcome Gawain Smart, CEO of International Campus Group, one of Europe's leading vertically integrated living platforms. Gawain combines a deep background in law, investment, and real estate, bringing a strong institutional perspective on scaling platforms and navigating diverse market cycles.THINGS WE SPOKE ABOUTAlternate living operational intensiveness.Capital allocation in secondary university cities.Market segmentation and amenity driven branding.Dichotomy of building versus buying assets.Trust is critical to complex deal success.GUEST DETAILSGawain Smart is the CEO of International Campus Group, one of Europe’s leading vertically integrated living platforms, focused on purpose-built student accommodation and broader residential concepts. Under his leadership, the group has expanded its presence across key European markets, operating through flagship brands such as THE FIZZ and HAVENS. With a background spanning law, investment, and real estate, Gawain brings a strong institutional perspective to platform scaling, capital allocation, and the evolution of living as an asset class.Contact Gawain: https://ic-campus.comQUOTESIf you build in the right location in that market, it's very attractive. - Gawain SmartI think that over time, you'll see more segmentation in the market, or sort of like how the hotel companies have done it. - Gawain SmartBuilding these things properly, with the right spec, the right price, is very critical, because if you don't, you know you're just creating headaches for yourself down the road. - Gawain SmartMORE INFORMATIONHavenstone Capital is a Real Estate Investment and Asset Management firm with a pan-European focus. Leveraging on the team’s extensive experience on both the Equity and Debt markets, Havenstone Capital is dedicated to managing investments across the entire investment cycle in the real estate market by managing and funding real estate projects in various asset classes.Visit our website; havenstonecapital.comThis podcast was produced by dustpod.ioKEYWORDS #AlternateLiving #PBSAInvestment #CapitalAllocation #DealComplexity #OperationalEfficiency
Navigating the significant repricing of the German real estate market requires strategic focus and disciplined execution. It is punishing for those who get lost in detail without a clear thesis or who fail to execute on their vision. This episode dives into the current cycle, determining where the pockets of value lie in German living assets, and the critical importance of prioritizing exit liquidity in today's underwriting environment. We explore how German capital is behaving and the crucial lessons learned from building an integrated real estate platform through market volatility.We are joined by Simon Koenig, Founder and CEO of Lakeward, an independent Swiss real estate investment and asset management platform. With more than two decades of experience, Simon leads the firm with a value-add approach focused on housing and alternative living across German metropolitan markets.THINGS WE SPOKE ABOUTGerman real estate cycle: early recoveryCore buyers as the exit base caseAffordable housing drives strongest demandSeller pricing is today's competitorExit liquidity is a first-class riskGUEST DETAILSSimon Koenig is the Founder and CEO of Lakeward, an independent Swiss real estate investment and asset management platform. He possesses more than two decades of experience across real estate investment, development, and capital structuring. Simon led Lakeward through a full market cycle, focusing on a conviction-driven, value-add approach to residential and living strategies in German metropolitan markets.Simon’s Contact Details:Company Website: https://lakeward.ch/Linkedin: linkedin.com/in/simon-koenig-bb290435iQUOTESFocus on the big picture, and once that direction is clear, then use deep detail to navigate the execution. - Simon KoenigThe real filter for us is more where do we have the best exit liquidity? - Simon KoenigI think the exit market will mostly be a core asset, and if you miss that, you drive a more risky part. - Simon KoenigKEYWORDS: #GermanRealEstate #LivingAssets #RealEstateCycles #ExitLiquidity #ValueAddInvestingMORE INFORMATIONHavenstone Capital is a Real Estate Investment and Asset Management firm with a pan-European focus. Leveraging on the team’s extensive experience on both the Equity and Debt markets, Havenstone Capital is dedicated to managing investments across the entire investment cycle in the real estate market by managing and funding real estate projects in various asset classes.Visit our website; havenstonecapital.comThis podcast was produced by dustpod.io