The Forces Reshaping Global Real Estate

MSRED candidate Michael Khamis welcomes David Steinbach, Global Chief Investment Officer at Hines, to MIT’s Center for Real Estate for an in-person conversation. David made the trip from Houston to Cambridge to sit down with our students and share his perspective on the forces reshaping global real estate.

With more than 25 years at Hines and oversight of a platform that has grown from roughly $10 billion to over $90 billion in assets under management, David offers a vantage point across cycles, geographies, and sectors.

In this episode, we cover:

·        Where we are in the global real estate cycle — and what makes this downturn and recovery fundamentally different

·        How Hines is navigating the repricing of risk and a higher cost of capital environment

·        The tension between deglobalization and global capital flows, and why local market knowledge has never mattered more

·        Structural conviction in the living sector — from multifamily and build-to-rent to student housing and senior living — amid a deepening global housing shortfall

·        How recent executive action on single-family rental acquisitions is reshaping BTR and SFR investment strategy

·        The rise of powered land plays: why power availability and grid capacity are becoming the defining constraint for data centers and AI-driven infrastructure

·        Lessons from working alongside the legendary Gerald Hines

·        Advice for students and early-career professionals who aspire to lead at a strategic level

Whether you're an investor, developer, student, or anyone trying to make sense of where real estate goes from here, this conversation is essential listening.

Director: Denise DeLorey

Interview by: Michael Khamis

Production by: Michael Khamis / Lacey Cochran

Music from #Uppbeat:

https://uppbeat.io/t/mark-july/dance-with-me

License code: KQAWWN4CWQXDF01E