Industry Leaders Share Optimistic Outlook on CRE and Authenticity at Work
In all market cycles, commercial real estate firms are better positioned to achieve successful results with leaders who are strong, confident, and authentic, demonstrating pride in the work that they do and in the lives that they lead.
Leading with Pride in CRE Finance
There are many parallels between the personal journeys of Pride professionals and the ups and downs of CRE market cycles. Although financial outlooks may seem uncertain at times, history has shown that the market will rebound. Similarly, as people gradually embrace their identities, they often experience a renaissance from new connections to supportive communities.
“There was a period of my career when I wasn’t out, and when I did come out, it was much better; it was not as scary as I thought,” said Robbie Pinkas, Senior Vice President, PACE Loan Group. “And I just started to be happier and more authentic with myself. I started to compress the compartmentalized parts of my life into one again. I try to live as authentically as I can, and I’m sure that is reflected in my leadership.”
Progress in Inclusion Coincides with Market Optimism
While the industry still has plenty of work left to achieve full inclusion, Pinkas and other panelists at a recent Pride Roundtable in New York City were optimistic that progress wouldn’t slow and the market would continue blossoming.
“The 10-year is holding stable, and rates are holding stable, so I’m hopeful that the transaction volume on the asset level will continue,” said Hwang. “And the capital markets have opened up for real estate. Spreads have been compressing, and banks are in the market, and debt funds are in the market, and CMBS and CLOs have come back. So that was really positive to see more recently, but it’s uncertain.”
Arbor’s recent sponsorship of the 2025 roundtable and other recent Pride career growth events is only one of many initiatives undertaken to enhance inclusion in the workplace and help advance Pride professionals’ careers.
The Current Cycle is Different from COVID
The current economic environment should not trigger panic mode, said Mary Baccash, Managing Director, RBC Capital Markets. However, there are similarities to the earlier years of the pandemic that could give a sense of what conditions will look like for the next few months.
“It doesn’t feel like COVID right now,” she said. “One thing you saw during COVID was that, as the capital markets went through volatility, the investment grade market is usually open through a lot of that.”
Baccash’s career journey and experience have helped her recognize bright spots in the market, and she credits her identity as having played a role in developing that professional wisdom.
“I don’t feel like my identity as a gay woman has colored my leadership style necessarily, but certainly, I feel like being out and being visible and being proud of it is something that I try to overcompensate and lean into, and perhaps that’s made me more confident in other parts of my life,” said Baccash.
World’s Largest Real Estate Pride Gathering
The annual roundtable, held at the Deutsche Bank Center in April and organized by the Real Estate Pride Council, featured executives from Deutsche Bank, CBRE Investment Management, and Blackstone and speakers from nearly every sector of real estate and financial services. More than 350 individuals from about 120 companies attended the conference, a sign of progress within the industry.
Hosted by Dr. Sam Chandan, Founding Director of the C. H. Chen Institute for Global Real Estate Finance at NYU Stern School of Business, and Deutsche Bank, the 2025 roundtable raised funds for seven Pride scholarships and research initiatives. Several Pride CRE students were recognized as scholarship recipients, which Chandan, the chair of the Real Estate Pride Council, noted will help them grow their careers and build a more inclusive industry.
“The Pride Council was established in part to showcase the extraordinary contributions of [Pride] professionals in every facet of our dynamic industry,” said Chandan. “In keeping with that mission, the roundtable’s agenda convened leaders in real estate investment, capital markets, technology, and law. Just as important, many of the discussions addressed the changing policy environment and housing issues of specific interest to the [Pride] community.”
For more information about the Pride Council and to stay updated on future events, visit https://www.pridecouncil.org/.
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