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From Viral Dreams to Deeds in Hand
Gen Z Gets Real About Real Estate 🎯

Big investors are buying this “unlisted” stock
When the founder who sold his last company to Zillow for $120M starts a new venture, people notice. That’s why the same VCs who backed Uber, Venmo, and eBay also invested in Pacaso.
Disrupting the real estate industry once again, Pacaso’s streamlined platform offers co-ownership of premier properties, revamping the $1.3T vacation home market.
And it works. By handing keys to 2,000+ happy homeowners, Pacaso has already made $110M+ in gross profits in their operating history.
Now, after 41% YoY gross profit growth last year alone, they recently reserved the Nasdaq ticker PCSO.
Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.
Hello, Commercial Real Estate Pros! 🏢
Welcome to this week’s edition. This week, we’ll talk about how Gen Z is rewriting the real estate playbook—transforming the perception of homeownership from obligation to aspirational self-expression.
No longer the “renter generation,” they’re choosing spacious homes over city-center small units, favoring properties under development for customization, and leaning into financial support from family while digital trends guide their decisions.
📰 Upcoming in this issue
🤝 The Deal Whisperer How Brandon Uses Negotiation to Build Win-Win Wealth
👠 From Sales Manager to CRE Powerhouse: Karla Smith’s Unscripted Climb
🏠 From Reels to Real Estate: Gen Z Is Making Homeownership Aspirational Again
📈 Trending news
Suburbs Thrive While Downtown Declines—A Tale of Two CRE Markets
Lowell Baron Declares “Big Deals Are Back” as CRE Volume Hits Multi-Year High
The Great Wait: Buyers Hold Off as Prices Stay High
🏠 From Reels to Real Estate: Gen Z Is Making Homeownership Aspirational Again

Gen Z—once deemed the "renter generation"—is now redefining homeownership, viewing property as a lifestyle expression and a digital-first investment aligned with their identity and community values.
Key Takeaways:
🎥 Homeownership as Self‑Expression: Gen Z sees owning property as an extension of their personal brand and visual identity.
🏗️ Preference for Under‑Construction Projects: They favor customizable, modern developments that offer flexibility and future value.
👨👩👧 Intergenerational Wealth Enabler: Many are entering the market earlier with support from family resources.
🌳 Space and Lifestyle Over Centrality: They increasingly choose spacious properties in quieter areas over dense urban living.
🤝 The Deal Whisperer How Brandon Uses Negotiation to Build Win-Win Wealth

What do dead possums, seller financing, and drum studios have in common? For Brandon Thornberry, they’ve all played a role in his journey from tour manager to founder of Urban Gate Capital, with a diverse portfolio of commercial and multifamily deals in Nashville and beyond.
Watch the full video here »
Key Takeaways:
🏠 House Hacking to $10K: Brandon scaled from a free-rent house hack to 20 SF homes, chasing a $10K/month freedom number.
💡 Creative Deal-Making: Early wins came through seller financing—trading higher interest rates for ultra-low down payments.
🔨 Hairy Deals, Real Upside: Whether it’s moldy apartments or gas tank-laden junkyards, Brandon’s method is simple: get bids, derisk, and build vision.
👨👩👧 Family-First Hustle: With clear boundaries and a “no work on weekends” rule, Brandon designs real estate around his lifestyle—not the other way around.
👠 From Sales Manager to CRE Powerhouse: Karla Smith’s Unscripted Climb

What started as a leap of faith from corporate burnout became a 21-year journey to the top of commercial real estate. Karla Smith shares how mentorship, service-first thinking, and perseverance earned her a seat at the table with major national tenants—and a legacy far beyond deal-making.
Watch the full video here »
Key Takeaways:
🌟 Mentorship Magic: Karla credits her early success to a generous mentor who emphasized service over fees—and inclusion over competition.
🧠 Gut Over Gimmicks: One of her most impactful deals came from trusting her instincts when others told her to give up.
🛠️ Big Tenants Take Time: She’s landed names like Target and Sprouts—but some deals took nearly a decade to close.
💖 Legacy with Heart: Beyond the boardroom, Karla’s driving force is her faith, family, and a deep commitment to giving back—especially through her work fighting human trafficking and supporting women in crisis.
Why It Matters
Gen Z is turning real estate into more than an investment—it’s becoming a bold statement of identity and ambition. With social media as their showroom and financial savvy as their strategy, they’re proving that homeownership can be both aspirational and attainable.
If this is the new face of the market, the future of real estate looks not just bright—but brilliantly reimagined.

Anne Morgan
Editor-in-Chief
Commercial Real Estate Weekly
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