Stepping into her new role as Fogelman’s President of Investment Management in October 2025, Kristy Heuberger discusses how her three decades of experience scaling platforms, developing talent, and integrating technology prepared her for leadership at a pivotal moment in the company’s evolution. She highlights Fogelman’s six-decade legacy as a values-driven, multifamily specialist with deep operational expertise across the Sun Belt—an area positioned for strong long-term performance due to demographic tailwinds, housing undersupply, and generational shifts away from homeownership. Kristy emphasizes that the next real estate cycle will reward nuanced market understanding, disciplined asset selection, and vertically integrated operational excellence rather than reliance on cheap capital, making sector specialization a differentiator for institutional investors seeking resilient returns. While Fogelman plans to expand thoughtfully within aligned U.S. markets, she notes that international growth doesn’t fit the firm’s value-add model, and that sustained success depends on a clear investment thesis, strong platform alignment, and the ability to leverage technology pragmatically to enhance performance. Ultimately, Kristy underscores that investor confidence increasingly favors specialist managers with proven track records, deep local knowledge, and long-term relationship orientation—qualities that position Fogelman for its next phase of measured, strategic growth.
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