💰 Goldman Sachs bullish on deals, sees CRE recovery amid tariff headwinds
🦾 Sydney giant bets big on AI-driven warehouses & data centers in U.S.
🛍️ Soho’s retail resurgence draws luxury brands and big-ticket investors
📚 Upcoming courses for Raising Capital & Selling Technology/Services to Owners

Data Viz of the Week: The Median Homebuyer is 56 Years Old

A recent NAR report confirms what many in the market are seeing: the median age of homebuyers continues its march upward, with the median buyer now qualifying for AARP benefits. The average repeat buyer rose from 45 in 2004 to over 60 in 2024, so the same generational cohort is still buying the homes 20 years later.

Perhaps most troubling, however, is the rapid increase in age of first-time homebuyers over the past 10 years, which now sits at 38 years old—up from 30 in 2010.

Upcoming Thesis Driven Courses & Classes

Learn how to 💸 raise capital from family offices, high-net-worth individuals and institutional investors. Or dive into a 🗺️ first-person POV experience developing a local real project.

With Thesis Driven’s hands-on courses—Fundamentals of Capital Raising and Intro to Development—GPs get the tools, frameworks, and confidence to raise money and bring projects to life.

All Upcoming Courses

• 📣 Last call (June 4): Introduction to Development (💻 Online): A first-person POV simulation for aspiring developers to learn to source, underwrite and finance a local real estate project - Sign up

• June 9: Fundamentals of Capital Raising (💻 Online): Insider’s guide to raising capital for real estate projects & platforms–from individuals, family offices and institutional investors - Sign up

• June 16 & 17: Fundamentals of Capital Raising (🗽Live in NYC): Insider’s guide to raising capital for real estate projects & platforms–from individuals, family offices and institutional investors - Sign up

• June 23: Selling Into Real Estate Owners (💻 Online): A bootcamp for people selling technology and products into the real estate industry - Sign up

Three Articles We Loved from Last Week

It’s not easy keeping up with everything. Here are three articles (+1 bonus) we loved from the past week that you may have missed:

1. (Reuters) Goldman Sachs says deal outlook is good, timing is uncertain

   Goldman Sachs President John Waldron expressed optimism about the investment banking sector’s prospects, noting a 30% rise in large deals year-to-date. Despite uncertainties in deal timing due to U.S. tariff-related market volatility, Waldron acknowledged early signs of recovery in the commercial real estate sector, with renewed opportunities for financing recapitalization.

2. (The Australian) Goodman targets industrial revolution with data centers, robot-run warehouses by using AI

   Sydney-based Goodman Group is strategically expanding its $85.8 billion portfolio, focusing on logistics and data centers. Leveraging $6.3 billion in funds, the company is acquiring prime sites for long-term redevelopment, including automated, robotic warehouses expected within the next decade. New global joint ventures, particularly in data centers, are being formed to meet the surging demand for cloud and AI-related infrastructure.

3. (New York Post) Soho retail-leasing boom bolstering investment sales

   Soho’s retail-leasing boom is significantly boosting investment sales, with ground-floor rents averaging $1,000 per square foot and reaching up to $1,800. Luxury brands like Ferrari are entering the market, leading to a spike in property sale values. Blackstone recently made Manhattan’s largest retail acquisition since 2021, paying $197 million for four properties totaling 131,000 square feet.

Developer of the Week: Irvine Company

Irvine Company—the 161-year old real estate firm responsible for building much of Irvine, California—is still at it.

The company filed plans to build 2,500 additional rental apartments near University of California, Irvine. The development will be a mix of six- and seven-story buildings and will happen in two phases. The total project will also include 416 income-restricted apartments.

You can read more about Irvine Company on the Thesis Driven GP database here.

Know about a developer doing something cool? Reach out to [email protected] with the tip!

—Brad and Paul