VICI Properties Strategy and Business Model

Executive Overview

VICI Properties is a New York-headquartered real estate investment trust (REIT) formed in 2017 through the reorganization of Caesars Entertainment Operating Company. VICI owns large-scale experiential real estate, with gaming properties as its core, and has gradually widened its scope into other experiential categories. The company does not operate casinos, hotels, or entertainment venues itself. Instead, it owns the underlying real estate and leases it to operators under long-term triple-net agreements, which generally shift property taxes, insurance, maintenance, and much of the capital-expenditure burden to tenants. That structure makes VICI less exposed to day-to-day gaming volumes than casino operators are, but highly exposed to tenant credit quality, lease design, and cost of capital. As of December 31, 2024, VICI said it owned 93 experiential assets across the United States and Canada, including a major concentration on the Las Vegas Strip and 33 acres of undeveloped or underdeveloped land adjacent to the Strip. In FY2024, VICI generated approximately $3.8 billion of revenue. Its strategic challenge is straightforward but demanding: keep compounding rent, adjusted funds from operations, and dividends by allocating capital into scarce experiential assets while preserving underwriting discipline and balance-sheet flexibility.

VICI Properties at a Glance

Logo
Common name	VICI Properties
Full legal name	VICI Properties Inc.
Headquarters	New York, New York, United States
Ownership	Public REIT; widely held institutional ownership; no controlling shareholder disclosed
Ticker	VICI
Exchange	NYSE - New York Stock Exchange
Market Cap	$29.07B
Revenue (FY2024)	$3.85B
Founding / major historical milestones	Formed in 2017 through the Caesars reorganization; major scale-up transactions included the 2021 Venetian real-estate acquisition and the 2022 MGM Growth Properties merger
Industry or industries	Experiential real estate; gaming real estate; net-lease REIT
Key products or services	Long-term triple-net leasing of gaming and experiential real estate; sale-leaseback transactions; mortgage, mezzanine, and other structured real-estate financing; selected golf-related operations
Geographic footprint	United States and Canada, with especially important exposure to Las Vegas and regional U.S. gaming markets
Business segments as officially reported	Real Property Business; Golf Course Business
Company website	https://viciproperties.com/

1. What Is the Strategy of VICI Properties?

VICI’s public materials frame the company as a long-term owner and capital partner in experiential real estate, especially assets with durable consumer demand, high replacement cost, and strong operating partners. Using the Playing to Win framework, the strategy is clearer than a simple “own casino real estate” summary.

1. 1a. What is the winning aspiration of VICI Properties?

   VICI’s practical winning aspiration is to compound shareholder value through durable, growing cash flows from experiential real estate while supporting a growing dividend. In management’s public framing, “winning” is not about maximizing near-term property-level volatility or taking operating risk. It is about steadily increasing adjusted funds from operations per share, protecting rent collection, and maintaining a balance sheet strong enough to keep funding new deals. As of FY2024, VICI had not centered its strategy on a single public long-range revenue target; instead, it has emphasized accretive growth, dividend growth, and disciplined capital allocation.

2. 1b. Where does VICI Properties play?

   VICI plays in large, destination-oriented experiential real estate where assets are strategically important to tenants and difficult to replace. Gaming is the core field: Las Vegas Strip properties and regional casinos. But management has also explicitly broadened the opportunity set to other experiential categories that share similar characteristics: large physical assets, repeat consumer demand, strong operators, and real-estate monetization potential. Geographically, the field remains primarily North America, with the United States as the center of gravity and Canada as a smaller extension.

3. 1c. How does VICI Properties plan to win?

   VICI plans to win by combining three advantages. First, it offers operators a specialized source of capital through sale-leasebacks, acquisitions, development funding, and structured financings. Second, it uses long-duration, landlord-protective lease structures, often with master leases and contractual escalators, to turn transactions into visible recurring cash flow. Third, it uses scale and investment-grade capital-markets access to compete for very large assets that smaller buyers cannot easily fund. The result is a differentiated position: VICI is neither a casino operator nor a generic landlord. It is a specialized owner-financier of experiential real estate.

4. 1d. What capabilities must VICI Properties have in place?

   To make that strategy work, VICI needs capabilities in experiential real-estate underwriting, tenant credit analysis, gaming-regulatory navigation, lease structuring, and capital-markets execution. Relationship management matters as much as financial modeling because many large transactions are sourced bilaterally with senior executives at operators. VICI also needs asset-management capability to monitor rent coverage, compliance, and redevelopment optionality over multi-decade lease terms. As the portfolio expands beyond gaming, category-selection discipline becomes another required capability: management has to decide which non-gaming experiential sectors fit the model and which do not.

5. 1e. What management systems does VICI Properties require?

   VICI’s model depends on management systems that reinforce discipline. That includes underwriting committees, tenant and rent-concentration monitoring, lease-compliance tracking, and balance-sheet guardrails consistent with investment-grade ratings. For a REIT, management systems also include dividend policy, liquidity planning, debt-maturity management, and REIT-compliance processes. At the property level, landlord protection is embedded in contract architecture: master leases, cross-default provisions, security packages, and escalation formulas matter because they are part of the operating system, not just legal paperwork.

2. What Are the Current Strategic Initiatives of VICI Properties?

Based on FY2024 disclosures and recent investor communications, VICI’s current strategic initiatives are more about widening and reinforcing its model than changing it.

Broaden the portfolio beyond pure gaming

Management has repeatedly signaled that VICI is pursuing a broader “experiential” real-estate strategy rather than remaining only a gaming landlord. In practice, that means selectively pursuing assets outside traditional casinos where VICI believes the same formula can work: mission-critical real estate, strong operators, long leases, and attractive risk-adjusted returns. Recent portfolio activity outside core casino real estate supports that direction.

Deepen relationships with existing operators and counterparties

VICI’s growth model depends heavily on repeat business. Large operators often prefer a real-estate partner that already understands gaming regulation, complex lease structures, and the economics of destination assets. Publicly, VICI positions itself as a long-term capital partner rather than a one-off buyer. That opens the door to follow-on acquisitions, development funding, and balance-sheet monetization transactions with existing tenants.

Protect embedded growth in the existing portfolio

VICI’s leases typically include contractual rent escalators, often fixed or inflation-linked subject to negotiated terms. That gives the company an internal growth engine even without new acquisitions. Management is also focused on preserving optionality around assets with redevelopment potential, including land adjacent to the Las Vegas Strip and other assets where future capital deployment could create new rent streams.

Maintain investment-grade financing flexibility

For VICI, access to capital is not a background issue; it is part of strategy. The company’s ability to raise unsecured debt, equity, or other capital at attractive terms determines whether it can keep acquiring assets accretively. Public messaging has therefore emphasized liquidity, leverage discipline, and balance-sheet strength as strategic priorities, not just finance priorities.

Continue tenant and asset-type diversification

VICI has grown substantially beyond its Caesars roots, especially after the MGM Growth Properties merger, but it still has meaningful tenant concentration. One current initiative is therefore to keep diversifying by tenant, asset type, and geography without sacrificing underwriting quality. That is a gradual process because the best large-scale experiential assets do not trade frequently.

Stay on the landlord side of the business model

Even as VICI broadens its portfolio, management’s public posture remains clear: the company generally wants to own and finance real estate, not operate the underlying businesses. That matters strategically because it preserves the company’s low-operating-expense, contract-driven economics.

3. What Is the Business Model of VICI Properties?

What customers actually buy

VICI’s tenants and borrowers buy long-term access to real estate and capital. In a sale-leaseback, an operator monetizes owned real estate, keeps running the casino or venue, and frees up capital for operations, debt reduction, or other uses. In a financing transaction, the customer buys balance-sheet flexibility or project capital without giving up the operating business.

Recurring or repeat-driven versus one-time

The revenue base is overwhelmingly recurring. Once VICI closes a transaction, it typically collects rent or interest for many years, often decades. Growth investments are episodic and one-time at closing, but they are designed to create new recurring revenue streams. In that sense, VICI resembles a compounding contract-cash-flow business more than a transaction business, even though deal origination is essential.

Revenue model

As of FY2024, the core revenue stream was contractual rent under long-term triple-net leases. Smaller streams included income from financing arrangements such as mortgage or lease-financing receivables, plus a limited amount of operating revenue tied to golf-related assets and other activities held in structures appropriate for a REIT. Traditional subscription terminology does not apply here; the closest analogy is a multi-decade contracted-rent model.

How pricing power works

VICI’s pricing power comes less from annual repricing and more from origination discipline and contract design. At closing, VICI negotiates the cap rate or investment yield, the escalation formula, the collateral package, and landlord protections. Scarcity helps: there are relatively few buyers that can underwrite regulated gaming assets, write very large checks, and remain attractive partners to operators. That gives VICI negotiating leverage on large and complex transactions.

Why the business mix matters

Gaming real estate is the economic core because it offers long leases, high barriers to entry, and well-understood underwriting. But too much concentration in a small number of gaming tenants can limit resilience. That is why the mix matters: broader experiential assets can diversify the portfolio, while financing receivables and development commitments can add flexibility. The trade-off is that moving too far from gaming could dilute the company’s specialty advantage.

What drives operating margin and cash generation

For a REIT like VICI, gross margin is less meaningful than for a manufacturer or software company. The key drivers are property-level expense pass-throughs under triple-net leases, corporate overhead, interest expense, and the cost of new capital. Cash generation is strong because tenants bear most property operating and maintenance costs, while VICI’s direct operating footprint is relatively small. That supports high conversion of rent into adjusted funds from operations and dividend capacity, though the model remains sensitive to interest rates and equity-market conditions.

4. What Products and/or Services Does VICI Properties Sell?

VICI does not sell gaming to consumers. It sells capital solutions and long-term real-estate access to operators.

Core offerings

• Long-term triple-net leases on gaming real estate: This is the core business. VICI owns casinos and related destination properties and leases them to operators.
• Other experiential real-estate leases: Outside gaming, VICI has expanded into additional experiential categories where management believes the same landlord model can work.
• Sale-leaseback transactions: Operators sell owned real estate to VICI and simultaneously lease it back, unlocking capital while retaining the operating business.
• Mortgage, mezzanine, and other structured financings: In some cases VICI provides real-estate-backed capital without taking full ownership immediately.
• Selected golf-related operations or interests: These are much smaller than the leased real-estate portfolio but remain part of the reported business mix.

What appears most important economically

Leased gaming real estate appears to drive the vast majority of revenue, profit, and strategic importance. That is where VICI has the strongest competitive identity, the deepest tenant relationships, and the clearest underwriting playbook. Newer experiential categories matter strategically because they can diversify the portfolio and widen the deal pipeline, but they are still secondary to the gaming platform.

Legacy versus newer growth offerings

The legacy base is casino real estate, particularly assets originally linked to Caesars and later broadened through major acquisitions. The newer growth layer is broader experiential real estate and structured capital solutions. The strategic question is how far that second layer can grow while preserving VICI’s disciplined risk profile.

5. What Are the Key Competitors or Peers of VICI Properties?

In pure gaming real estate, the list of direct competitors is short. In practice, VICI competes with a mix of direct peers, diversified net-lease REITs, and private-capital buyers that can pursue large experiential assets or provide alternative financing.

A practical substitute also exists: operators can simply keep their real estate on balance sheet rather than monetize it. When that happens, VICI is not competing against another landlord so much as against the operator’s own capital-allocation choice.

6. What Is the Marketing Strategy of VICI Properties?

VICI’s marketing strategy is fundamentally business-to-business and relationship-driven, not consumer-facing. The company does not need brand advertising aimed at gamblers or hotel guests because its contractual customers are operators and borrowers.

Relationship marketing to operators and deal counterparties

Based on public disclosures and transaction history, VICI’s most important marketing activity is building trust with CEOs, chief financial officers, boards, lenders, advisers, and regulators. The company’s pitch is not entertainment; it is reliability, structuring sophistication, and the ability to close large, complex transactions.

Capital-markets marketing matters

Investor relations is strategically important for VICI because the company’s cost of capital affects its ability to grow. Clear communication with shareholders, debt investors, and rating agencies is therefore part of the marketing system. In a REIT, a strong public-market reputation can function as a competitive advantage in deal sourcing.

Brand is a supporting capability, not the main differentiator

VICI’s own brand matters primarily as a signal of financial credibility and domain expertise. The consumer brands attached to many of the properties are mostly owned by the tenants, not by VICI. That means marketing is a supporting capability for growth, but not the primary moat; lease structure, underwriting, and access to capital are more central.

7. What Are the Key Customer Segments of VICI Properties?

VICI’s contractual customers are not gamblers, hotel guests, or diners. They are the operators and counterparties that lease or finance the underlying real estate.

VICI is diversified by property and geography, but still meaningfully concentrated by tenant. As of FY2024, Caesars and MGM remained the most important counterparties, which is both a strength and a concentration risk.

8. What Is the Sales Model of VICI Properties?

VICI’s sales model is a direct-origination model built around a relatively small number of very large transactions. There is no distributor network, retail channel, or mass-market digital funnel. Deals are sourced through executive relationships, industry networks, advisers, and repeat business with existing operators.

How VICI goes to market

The company approaches operators, boards, and sponsors directly when a sale-leaseback, acquisition, development, or structured financing could solve a capital-allocation problem. In many cases, the process is consultative: the “sale” is really a negotiated financing and lease package tailored to the operator’s objectives.

How products reach customers

Products reach customers through bilateral negotiation and transaction execution. For VICI, “distribution” means capital-markets readiness, legal structuring, tax and REIT structuring, and the ability to obtain needed approvals and close on time.

Why the channel structure matters

This direct model creates high customer intimacy and supports complex pricing, but it also means growth can be lumpy because opportunities are not evenly distributed over time. It favors senior relationship talent, disciplined underwriting, and targeted business development over large sales teams. It also creates clear consultant opportunities in areas such as transaction screening, portfolio analytics, integration planning, and lease-administration systems.

9. In What Geographies Does VICI Properties Operate?

As of December 31, 2024, VICI’s portfolio spanned the United States and Canada. The company is geographically broad, but economically its most important cluster is Las Vegas.

Las Vegas as a strategic hub

Las Vegas matters disproportionately because VICI owns or has interests in several landmark Strip-area assets and adjacent land. These are some of the most valuable experiential real-estate assets in North America and are central to the company’s identity.

Regional U.S. gaming markets

Outside Las Vegas, VICI has exposure across regional gaming markets in the Midwest, South, Northeast, and other U.S. regions. Those markets matter because they reduce dependence on a single destination market and create a base of recurring rent from properties with local or regional customer bases.

Canada and other non-U.S. exposure

Canada is the company’s main non-U.S. geography. It remains much smaller than the U.S. footprint, but it shows that VICI is not purely domestic in its portfolio construction. Publicly, however, North America remains the practical scope of operations.

Corporate footprint

VICI’s headquarters are in New York. Unlike an operating casino company, it does not need a large network of plants, distribution centers, or storefronts. Its operational footprint is expressed through owned real estate and a lean corporate platform rather than a large operating workforce.

10. Who Are the Owners of VICI Properties?

VICI is a publicly traded REIT listed under the ticker VICI. As of public filings in early 2025, the shareholder base was widely distributed, with large institutional investors such as Vanguard, BlackRock, and State Street among the prominent holders. No controlling shareholder is publicly disclosed. As with most public companies, institutional ownership levels can change from quarter to quarter.

11. How Is VICI Properties Organized?

VICI is organized as a public REIT, with VICI Properties Inc. as the listed parent and VICI Properties L.P. as the operating partnership through which substantially all business is conducted. That is a common structure for equity REITs because it supports tax efficiency, operating flexibility, and the use of partnership units in transactions.

Practical operating structure

At a practical level, VICI is organized around investment origination, underwriting, capital markets, legal and regulatory affairs, asset management, and corporate functions such as finance and accounting. Because tenants operate the properties, the company does not need a large property-operations hierarchy comparable to a hotel or casino operator.

Reporting structure

VICI has historically reported a Real Property Business and a Golf Course Business. That reporting distinction matters because the economics of long-term leased real estate differ from directly operated or managed golf-related activities. Economically, however, the real-property platform is the core of the business.

How the portfolio is really managed

In day-to-day terms, the portfolio is often managed by tenant relationship, lease structure, and capital allocation logic rather than by separate stand-alone property operating divisions. For a landlord like VICI, master leases and tenant-level monitoring are often more important than property-by-property operating management.

12. How Does VICI Properties Operate?

VICI operates more like a specialized owner-financier than a property operator. The value-creation process starts before acquisition and continues through decades of asset and tenant oversight.

1. Source and underwrite opportunities

The company identifies potential sale-leasebacks, acquisitions, financings, or development opportunities. Underwriting focuses on the asset, the operator, local market dynamics, regulatory considerations, lease structure, and expected return relative to VICI’s cost of capital.

2. Structure the transaction

Transaction design is central. VICI determines whether the right structure is a full acquisition, a lease-financing arrangement, a mortgage, mezzanine capital, or another format. Lease terms, escalators, security, renewal options, and master-lease design are all part of value creation.

3. Fund and close

Because many deals are large, capital-markets execution matters. VICI may use debt, equity, retained cash flow, or a combination. Regulatory and legal complexity can be significant in gaming-related deals, so closing capability is itself an operating competency.

4. Manage the asset and the credit

After closing, the company’s day-to-day work is to collect rent, monitor tenant performance, track lease compliance, evaluate requests for amendments or additional capital, and assess redevelopment or expansion opportunities. VICI usually is not managing daily staffing, gaming floors, or hotel operations; tenants do that.

5. Manage the portfolio and balance sheet

Operations also include debt management, dividend planning, investor communication, and portfolio-level decisions about concentration, geography, and asset-class exposure. In a net-lease REIT, operating excellence is partly financial discipline: poor capital allocation can impair performance even if rent collection is strong.

Operational complexities and bottlenecks

The main complexities are tenant concentration, regulatory oversight in gaming jurisdictions, limited supply of trophy assets, and the need to maintain a cost of capital that allows accretive growth. Interest-rate volatility can become a bottleneck because it changes the spread between acquisition yields and financing costs.

13. What Are the Growth Opportunities for VICI Properties?

Management-stated growth priorities

The clearest management-stated opportunity is continued expansion within experiential real estate beyond traditional gaming. VICI has also emphasized repeat business with existing operators, contractual rent growth embedded in current leases, and selectively providing development or structured capital where it can create future rent or financing income.

Most plausible growth opportunities

• Additional sale-leasebacks in gaming: Many operators still own real estate that could be monetized.
• Expansion into adjacent experiential categories: If VICI can find sectors with durable demand, strong operators, and REIT-friendly lease structures, its addressable market expands materially.
• Development and redevelopment around existing assets: Land adjacent to the Las Vegas Strip and capital projects at existing campuses create embedded optionality.
• Structured financing: Mortgage, mezzanine, and hybrid structures can give VICI a way to participate in deals that do not fit a simple acquisition model.
• Tenant diversification: Growth with new counterparties can reduce concentration and improve portfolio resilience.

Reasonable external synthesis

An outside observer could also see selective international expansion as a long-term opportunity, but public evidence still suggests North America is the main field. Another plausible opportunity is becoming a broader capital partner to experiential operators, not just a landlord, so long as REIT structure and risk limits are respected.

Main constraints

The biggest constraints are cost of capital, scarce supply of large high-quality assets, regulatory complexity, competition from other capital providers, and the risk of moving too far beyond the company’s core underwriting expertise. Tenant concentration is also a limiting factor: growth that meaningfully improves diversification is strategically more valuable than growth that simply increases exposure to the same few operators.

14. What Is the History of VICI Properties?

VICI was formed in 2017 as part of the reorganization of Caesars Entertainment Operating Company. That origin is important because it gave VICI an initial portfolio of casino real estate and defined its early identity as a gaming-focused REIT.

• 2017: VICI emerged as a publicly traded REIT tied to the Caesars restructuring, with an initial portfolio anchored by Caesars-related assets.
• 2018 to 2020: The company began proving it could grow beyond its founding relationship by completing additional gaming real-estate transactions with other counterparties.
• 2021: VICI acquired the real estate of The Venetian Resort Las Vegas, a marquee transaction that reinforced its role as a buyer of trophy assets on the Strip.
• 2022: The merger with MGM Growth Properties transformed VICI’s scale, broadened the tenant base, and materially increased its exposure to iconic Las Vegas assets and regional properties.
• 2022 onward: VICI also expanded into Canada and continued moving into broader experiential real estate categories beyond traditional casinos.

Unlike some REITs, VICI’s story is not one of gradual property-by-property assembly over decades. Its history is defined by a few very large portfolio events and by using those transactions to establish a specialized capital-markets position in experiential real estate.

15. What Are the Key Assets of VICI Properties?

VICI is an asset-heavy business by design. Its key assets are the real estate itself, especially properties that are difficult to replicate because of location, licensing, scale, or entitlements.

Destination gaming real estate

As of December 31, 2024, VICI said it owned 93 experiential assets across the U.S. and Canada, including 54 gaming properties and 39 other experiential properties. The most strategically important assets are large casino resorts, especially those on or near the Las Vegas Strip and other top gaming markets.

Scale of the physical portfolio

VICI’s year-end 2024 disclosures described a portfolio of roughly 127 million square feet and more than 60,000 hotel rooms, plus a substantial food, beverage, nightlife, sportsbook, and entertainment footprint. That scale matters because it creates relevance with large operators and supports access to large institutional capital pools.

Land optionality

One particularly important asset is the company’s 33 acres of undeveloped or underdeveloped land adjacent to the Las Vegas Strip as of year-end 2024. That land is not just passive inventory; it represents future development or monetization optionality in one of the most valuable leisure corridors in North America.

Golf and other experiential assets

VICI also owns golf-related assets, including championship-course exposure, and a growing set of non-gaming experiential properties. These matter less than the casino portfolio today, but they are strategically important because they widen the addressable market.

Why asset intensity matters

Asset intensity creates barriers to entry and embedded real-estate value, but it also makes returns sensitive to capital allocation and interest rates. For VICI, the quality of assets and the terms on which they are financed are inseparable drivers of shareholder value.

16. What Is the Finance Strategy of VICI Properties?

Finance strategy is central to VICI because the company grows by investing capital into long-duration assets. If its cost of capital is unattractive, its opportunity set narrows.

Capital allocation priorities

At a high level, VICI’s finance strategy is to allocate capital toward accretive acquisitions, financings, and development opportunities while supporting a sustainable and growing dividend. The company’s public messaging has consistently paired growth with balance-sheet discipline rather than with maximum leverage.

Leverage and liquidity

VICI has emphasized maintaining an investment-grade balance sheet and preserving access to unsecured debt markets. For a REIT pursuing very large deals, liquidity and debt-maturity management matter as much as reported earnings. The company’s strategy depends on being able to move quickly when rare assets become available.

Cash generation and dividend support

The triple-net model is attractive financially because tenants fund most property-level costs, leaving a relatively high share of rent available to support interest expense, overhead, and dividends. As a REIT, VICI must distribute a large share of taxable income, so dependable cash flow is especially valuable.

Why finance strategy supports corporate strategy

VICI’s broader strategy only works if the spread between asset yields and funding costs remains attractive over time. That is why the company spends so much public attention on leverage, ratings, maturity schedules, and capital flexibility. In VICI’s case, finance is not back-office plumbing; it is one of the company’s competitive weapons.

17. What Major Acquisitions Has VICI Properties Made?

Acquisitions and sale-leaseback transactions have played a major role in VICI’s growth. The company has scaled much more through large portfolio events and negotiated transactions than through ground-up development.

The company’s 2017 formation through the Caesars restructuring was the foundational portfolio event, even though it was not a conventional acquisition. Historically, that transaction and the MGM Growth Properties merger do the most to explain how VICI became a scaled experiential REIT so quickly.

18. How Companies Like VICI Properties Leverage Independent Consultants through Umbrex

For a company like VICI, independent consultants are most useful when management needs senior problem-solving capacity on a targeted issue without bringing in a full consulting team. Umbrex has built a global community of more than 8,000 independent management consultants based in more than 50 countries. Many are alumni of McKinsey, Bain, BCG, and other top firms. Companies like VICI use Umbrex when they want that level of analytical rigor across Strategy, Operations, Organization, Marketing, Sales, Finance, Technology, ERP, and AI, but with a more focused delivery model.

• Screen adjacent experiential asset classes and build a market-priority map for where VICI should expand beyond gaming.
• Develop a tenant-diversification strategy, including concentration analysis, stress testing, and counterparty prioritization.
• Create a buy-versus-finance decision framework for sale-leasebacks, mortgages, mezzanine deals, and development capital.
• Evaluate development options for Strip-adjacent land and build scenario models for phased deployment, partnerships, and returns.
• Design a post-acquisition integration playbook for bringing new experiential asset categories into VICI’s underwriting, reporting, and asset-management processes.
• Build portfolio dashboards for lease escalators, tenant health, covenant compliance, and asset-level redevelopment optionality.
• Review capital-allocation processes, including hurdle rates, financing mix, and governance for large one-off transactions.
• Assess and redesign the operating model of a lean REIT corporate center as the portfolio broadens by asset type and geography.
• Support ERP and lease-administration system selection or upgrade to improve portfolio reporting and auditability.
• Develop AI-enabled workflows for deal screening, lease abstraction, market intelligence, and document-heavy underwriting processes.