LaSalle’s Klinksiek: ‘We are not going back to the simplicity of the sheds and beds mantra’

How should investors think about private real estate portfolio construction amid today’s highly uncertain macroeconomic volatility? Brian Klinksiek, head of research and strategy at LaSalle Investment Management, has a compelling answer. The Chicago-headquartered manager's latest research note – The Trade War, Relatively Speaking: Tariffs and Real Estate Fair Value – is the second of two papers looking at the subject of tariffs. It is a guide of key ideas for real estate investors – ideas that will hold true at a time when the future “steady state” of trade policy remains unknowable. In this episode, Klinksiek explains LaSalle's "theory of relativities" in conversation with Jonathan Brasse, PEI’s real estate editor-in-chief. This theory prioritizes diversification, a permanent allocation to private real estate credit, and being focused on aspects of the market that are not likely to change, no matter what comes next.