The future of real estate investing: Pretium’s Don Mullen on the rapidly changing asset class

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• 00:00

  Welcome to another episode of Goldman Sachs Exchanges Great Investors.

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  I'm Allison Mas,

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  Chairman of Investment Banking in Goldman Sachs' Global Banking and Markets Business and your host for today's episode.

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  Today, I have the great pleasure of sitting down with Don Mullen.

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  Don is the founder and CEO of Predium,

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  a real estate-focused investment firm with about $57 billion in assets under management.

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  Before that, he spent about a decade here at Goldman Sachs,

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  where he served as head of our Securities Division's Global Credit and Mortgage Business.

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  Don and I have known each other for almost 40 years, and I'm excited to hear Don's views on the housing market,

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  and in particular, his predictions about the future of real estate as an asset class.

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  So Don, thanks so much for being here.

• 00:53

  Thank you for having me, and nice to be included in a great investors group.

• 00:57

  That's very kind of you.

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  Well, you're one of the greatest.

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  Greatest.

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  Very kind.

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  So let's start in 2012, when you left Goldman Sachs to create Predium,

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  what did you see at the time that made you want to take that risk?

• 01:11

  Sure.

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  I saw a couple of things.

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