Standard institutional experience. Everything is about the quarterly report. If your project isn't hitting the IRR targets, they are quick to pivot. It’s not personal, it’s just how they operate.

They are the smartest guys in the room. When they buy a sector, everyone else usually follows.

The 'Blackstone Effect' is real. As soon as they buy in a neighborhood, prices start to jump. Great for investors, but it can be tough for the local small businesses who get priced out of their leases.

Very data-driven. They don't buy based on 'gut feeling'—it’s all about the numbers. It makes them a very predictable and professional partner to sell to, even if they're tough on the price.

They own everything nowadays! From a tenant perspective, it feels a bit corporate and impersonal, but you can't deny they keep the properties in good shape.