Rewriting the Rules of Real Estate Investment with Fidelis

In this episode of PlotLines, Heather and Britni sit down with Brian Tortorella and Michael Tessitore, Founding Partners at Fidelis Investors, and Special Advisor Jerry Howard, former CEO of the National Association of Home Builders. They unpack how capital is being deployed in today’s environment of high interest rates, constrained deal flow, and persistent housing shortages. The conversation explores why middle-market strategies are gaining traction, how partnering with operators can drive better outcomes, and the impact of policy and construction risk on decision-making. They also discuss Fidelis’s recent RTL securitization and the expanding role of private credit in filling financing gaps. With decades of experience across finance and housing policy, the trio offers a grounded look at where real estate investment is heading and why intention matters more than ever.