Operational Alpha Over Scale: Why Focused Real Estate Platforms Are Winning - Jeff Beckham - CIO at Buckingham

The discussion centers on Buckingham's investment strategies within the "living sector," encompassing rental housing from student to active adult, and its focus on generating alpha through specialized operational expertise. Jeff Beckham, CIO of Buckingham, details the firm's vertically integrated approach, including in-house property management, development, and construction arms, which allows for better control over costs and customer experience. Buckingham strategically avoids crowded coastal markets, targeting the Midwest, Southeast, and Mountain West for better risk-adjusted returns, capitalizing on strong in-migration trends and less regulatory risk. Beckham emphasizes the importance of focus and discipline in deal sourcing, balancing on-market and off-market opportunities to maintain an edge in chosen markets.