Michael Shvo

Would you invest in, and build, in San Francisco again? 

San Francisco is one of the world’s great cities, and I have always believed in its long-term  potential. Growing up in Israel, I was captivated by images of the Transamerica Pyramid and  what it represented. Eventually having the opportunity to purchase and transform such an  iconic building was, for me, a manifestation of the American Dream.

Our investment in the Transamerica Pyramid — our sale of which marked San Francisco’s largest deal of 2026 — reflects our conviction that exceptional real estate in exceptional locations will always have enduring value. I remain incredibly optimistic about San Francisco’s future and would welcome the opportunity to invest there again.

Is the South Florida real estate boom over? Or just transitioning? 

Betting against South Florida would be a big mistake. The region continues to offer an incredible combination of lifestyle, business opportunities and favorable tax policies that attract residents and companies from major markets like New York and Chicago.

Beyond its beautiful weather and world-class hospitality, South Florida has evolved into a year-round destination for families and businesses, with growing cultural offerings and continued investment in amenities, including education. Real estate markets will always experience cycles, but the fundamental factors driving South Florida’s appeal remain strong, and I believe it has a very bright future.

What are blue-chip, Fortune 100 companies looking for in office space as 2026 ends?

At the Transamerica Pyramid, where we achieved record West Coast rents, we saw firsthand  the demand for exceptional office environments. We continue to see this demand in New York,  where our portfolio reflects the enduring appeal of premier commercial real estate.

The world’s leading companies recognize that the office is more than simply a place to work. It is an important tool for attracting talent, fostering collaboration and reinforcing corporate identity. Today’s tenants are prioritizing large, light-filled floor plates, flexible layouts that can accommodate evolving workplace needs, and technology infrastructure designed for future innovation. They also want a balance of private workspaces and areas that encourage teams to gather and collaborate, along with access to dining, entertainment and other amenities.

What particular areas — geographically or by asset class — are you looking to pursue?

Our investment philosophy has always been focused exclusively on super-prime real estate in key gateway cities. We believe that irreplaceable assets in the most desirable locations, combined with exceptional architecture, design and hospitality, offer the greatest potential to create enduring value. 

This disciplined approach has always guided our investments and will continue to shape the opportunities we pursue. When we have something to announce, we’ll be glad to share (without tipping off your competitors!). 

Where are you getting your money — or, how would you describe your investor base?

Real estate has always been an attractive asset class for sophisticated investors who  understand the long-term value that can be created through the right combination of location, quality, architecture and design. Throughout my career, I have worked with a diverse range of capital partners, including family offices, pension funds, sovereign wealth funds and other institutional investors. 

The common thread among these partners is an appreciation for high-quality real estate with the potential to generate attractive returns through disciplined investment and thoughtful execution. 

If you could change one area of global or local tumult, what would it be and why? 

I want to see a future in which Israel and its people can live in lasting peace and security, free from the threats of terrorism and those who seek the country’s destruction. I am proud to be Israeli and believe strongly in Israel’s right to exist, defend itself, and protect its citizens.

Lasting peace in the Middle East cannot come without confronting the forces that threaten regional stability and ensuring that future generations can live without fear of violence and terrorism.  

Is the opportunistic investment window still open, or has it closed? 

There will always be opportunities for investors who have the experience, discipline and  conviction to recognize them. Opportunistic investing is ultimately about making informed decisions, understanding the underlying fundamentals of an asset and identifying value that others may overlook. 

In the current environment, however, it is especially important to exercise patience and discipline. Market conditions and investment cycles will change, but the principles of savvy and successful real estate investing remain consistent, and those who maintain a long-term, selective perspective will continue to find compelling opportunities. 

Lightning Round:

Your AI platform of choice? Still figuring that out, and using a variety of platforms as they constantly change. 

Who would play you in a movie? Let’s hope we never have to answer that question. 

One prompt you’d never give AI. “Why shouldn’t I do this?” Some choices need to be left for humans. 

Jalen Brunson or Aaron Judge? I’m not going to pretend to be an expert on baseball.

“Oppenheimer” or “Odyssey”? Loved “Oppenheimer,” haven’t seen “Odyssey” yet. 

Tom Holland, Andrew Garfield or Tobey Maguire? Hollywood isn’t my thing.

Have you ever eaten pizza with a knife and fork? Sadly, yes. 

The most money you’ve ever spent on a hamburger? $48.

Bank or non-bank? Hopefully, our society is not at the point where we’re putting money under mattresses, so I’m all for banks.  

Last book you read? I read the Torah every day. 

Borrowing costs — up or down in 2027? Up. 

What was your nickname when you grew up/started out? Shvo. 

How long do we have before AI kills us all? That’s a question to ask AI. 

Where’s your secret escape compound? (Think Peter Thiel’s New Zealand Plan B.) Wouldn’t be a secret if I told you.