Recorded live in Sundance, Utah, this episode of The Distribution features host Brandon Sedloff in conversation with Jonathan Glick at the conclusion of the fourth annual REEL Conference. Together, they reflect on the event’s intimate and candid discussions with more than 45 founders and entrepreneurs in middle-market real estate. The conversation covers the challenges of today’s market cycle, shifting capital structures, the role of technology and AI, and the importance of leadership and team culture in navigating uncertainty.

They discuss:

• Why adaptability and creativity will determine success in the next real estate cycle
• Key capital formation trends, including the rise of co-investments and diversified structures
• How AI and technology are reshaping investment firms and talent strategies
• The importance of storytelling and differentiation in attracting capital
• Evolving approaches to compensation, retention, and building durable teams