Is real estate private equity back in vogue? w/ Greg Edelmuth

We recently caught up with Greg Edelmuth from Blackfox Property, a private equity investment company focused on commercial assets.

With recent interest rate cuts, attention is now turning back to private equity, away from private credit. Valuations have fallen. Institutional players are net sellers. Opportunities are opening for investors willing to buy smart and hold steady.

Greg’s strategy focuses on assets with strong cash flow—retail, large-format outlets, and essential services. He avoids development risk, preferring to drive returns by improving leasing terms and cutting costs. For him, value lies in patience and discipline.

Greg’s final advice is simple: listen to your investors and be honest about risk. Success isn’t about chasing every deal. It’s about knowing when to walk away and protecting capital. Transparency builds trust. In a market full of noise, staying grounded is what keeps good investors standing.

Peter Esho is an economist and Founder of Esho Capital. He has 20 years of experience in investments and markets.