Spotlight on Jason Schreiber, Principal, Co-Head of Real Estate Equity, CIM Group
Global Thought Leader Spotlight
Jason Schreiber, Principal, Co-Head of Real Estate Equity, CIM Group
In my role as the Co‑Head of Real Estate Equity at CIM and the Portfolio Manager of our Net Lease strategy, I am responsible for overseeing CIM’s Real Estate Equity platform as well as developing, implementing and managing our net lease strategy.
I lead portfolio construction and capital allocation, as well as monitor ongoing performance across the net lease portfolio, with a focus on income durability and risk management.
I am involved across the full investment lifecycle, from building our acquisition and origination strategy, to reviewing investment opportunities; managing our portfolio and implementing our exit strategy.
I also serve on CIM’s Investment Committee and Asset Management Committee, where I help guide key decisions across the broader Real Estate Equity platform to create value for our investors.
Net lease risks and opportunities
Net lease real estate is being shaped by a few key developments that create both risk and opportunity:
Higher interest rates have increased the importance of tenant credit and lease durability, pushing investors to look beyond ratings and focus on factors such as cash flow coverage, leverage, and refinancing risk. This has led to wider dispersion in values, but also more attractive entry points for well leased, high-quality assets.
Operating performance is diverging across tenant types. Certain essential and mission critical businesses such as auto services, pharmacies, grocers, convenience retail, and select industrial users have, in some cases, demonstrated resilient demand, while more discretionary categories face pressure. This bifurcation reinforces the defensive characteristics of net lease portfolios anchored by essential uses.
Tighter lending levels continue to support sale leaseback activity as companies seek max proceeds as well as flexible, long-term capital. For net lease investors, this environment favours disciplined underwriting and thoughtful structuring but provides more opportunity for higher sale-leaseback production levels.
Implications for investment selection
We believe today’s environment calls for a more credit‑centric and operationally disciplined approach. With cap rates relatively flat and borrowing costs elevated, return outcomes have been increasingly driven by underwriting discipline and tenant durability rather than cap rate compression. This dynamic favours managers with deep sector expertise and strong asset‑level capabilities who can astutely assess tenant credit, actively monitor performance, and execute alternative strategies if conditions change. Operational capabilities are becoming a differentiator, not a luxury.
Within net lease, portfolio positioning matters more than ever. We believe allocations should lean toward essential‑service retail and mission‑critical industrial assets, where demand has historically demonstrated resilience and pricing dislocations remain. In industrial, select secondary and tertiary markets can offer meaningful yield premiums without sacrificing tenant quality when supply dynamics, logistics access, and labour availability are well aligned.
We believe sale‑leasebacks also represent a compelling opportunity in this market. As access to traditional financing remains constrained, more companies are using sale‑leasebacks as a long‑term capital solution. These transactions may offer the ability to secure durable cash flows, structure leases with strong landlord protections, and align incentives with operators focused on long‑term performance.
Overall, the current market reset highlights the importance of credit resilience, disciplined lease structures, and hands‑on portfolio oversight. A more selective, execution‑focused approach helps navigate income stability considerations and relative value dynamics as the market continues to adjust.
Jason recently presented at Global Investment Institute’s Private Wealth Investment Leaders Forum on Wednesday, 13 May 2026 in Melbourne CBD, Victoria. To register your interest in attending next year, click here or for more information email zlatan@globalii.com.au.
Jason Schreiber, Principal, Co-Head of Real Estate Equity, CIM Group
Jason serves as a Principal, Investments and Co-Head of Real Estate Equity at CIM Group®. He is actively involved in the investment management process across CIM’s platforms and serves on the Investment Committee and Asset Management Committee. Additionally, Jason serves on the boards of CIM Real Estate Finance Trust Inc. (CMFT), CCLA Holdings, and Round Hill Capital Ventures LLC.
Prior to joining CIM, Jason was an Analyst in the Tech, Media and Telecom investment banking group at Goldman Sachs.
Jason earned a Bachelor of Arts degree in Economics and History of Art from Brown University and a Master of Business Administration from Harvard Business School. CIM Group is not affiliated with Global Investment Institute.
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