Is Traditional CRE Falling Behind Alternatives? w/ Brian Pieracci

Season 4, Episode 4: Jack Stone and Alex Gornik sit down with Brian Pieracci, Head of North American Private Real Estate Equity at Heitman, to examine why alternatives are reshaping commercial real estate portfolios and outperforming traditional core assets. Brian shares how Heitman pioneered allocations towards self-storage, medical offices, senior housing, and single-family rentals. He breaks down what drives demand in these sectors, the challenge facing office real estate, and how institutional investors are changing their strategies in response. Brian also explains Heitman’s global approach to alternative assets and the importance of diversification in today’s market. TOPICS 00:00 Meet Brian Pieracci 05:15 Early bets on alternatives 13:00 Office real estate vs alternatives 21:40 Self-storage and senior housing 29:30 Strategies for global expansion into alternative sectors 37:00 Balancing core, value-add, and alternative assets 44:30 What institutional investors demand from alternative investments 52:10 The future of CRE beyond the office Shoutout to our sponsor, Lev. The AI-powered way to get real estate deals financed. For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/ Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily About No Cap Podcast Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate. About CRE Daily CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.