Bob DeWitt & Greg Bates | Retired CEO/Vice Chairman, GID; CEO & President, GID
This week Matt is joined by Bob DeWitt and Greg Bates from GID, the Boston-based, vertically integrated real estate investment manager. Bob is Vice Chairman and former CEO of GID and Greg is currently CEO and President. The pair tell the story of generational transitions in the real estate business through GID’s unique lens.
Bob recalls transforming the business in the 90’s and early 2000’s as GID, and others, institutionalized their businesses. This opened doors to significant professionalization and scaling in both the apartment sector and commercial real estate. GID underwent another major growth spurt more recently when it has scaled to compete with the new huge private equity investment shops as part of real estate’s transition from an alternative asset class into a primary asset class. Greg foresees operational excellence becoming valued over capital appreciation as a measure of success as the market continues to shift.
The theme of transition continues with Matt’s firm, Terra Search Partners, which has recently become part of the global talent advisory firm ZRG Partners, where Matt will become global co-head of their real estate practice. This merger will enable ZRG to grow its real estate practice globally and further Terra Search Partners’ long standing mission to help shape the future of the real estate industry.