I’ve been advising wealthy family offices on real estate for decades. This market requires another look at your 100-year plan
March 9, 2026 – FortuneBelinda G. Schwartz, executive chair of Herrick and co-chair of the Real Estate Practice, authored an article for Fortune discussing how family offices with significant real estate holdings may need to re-examine their 100-year plans.
She opens the article saying, "The Great Wealth Transfer is reshaping the landscape for family offices — and it’s happening at the same moment that real estate markets are seeing their share of both challenges and opportunities. Over the past several years, shifting valuations, tighter lending standards and uneven performance across asset classes have challenged portfolio managers, including those who invest on behalf of family offices that own real estate. For family offices with significant real estate holdings, this convergence raises a fundamental question: Does their 100-year plan still make sense?"
Belinda notes in the article that, "A key challenge is that today’s market presents a more complex landscape. The office and retail markets remain in flux in many regions, and much of the nation desperately needs more residential development. Public-private partnerships are increasingly appealing to investors." Adding, "Investing in specialized sectors like hospitality or healthcare provides interesting opportunities, but this requires expertise. At the same time, uncertain pricing, increasing capex requirements, higher interest rates and tight credit markets are forcing many owner/operators to infuse cash into their owned assets. Some are looking to third-party capital sources to pay down debt on overleveraged deals and refill interest and capex reserves"
Belinda concludes with, "The 100-year plan is not just a tagline. It is a construct that gives family offices the mindset to ensure that their legacy portfolios are maintained for generations, allowing the beneficiaries the ability to individualize in a positive and supportive environment. With this goal in mind, this unusually turbulent moment may be the perfect time for family offices to make sure their plans still make sense and position them well for the next century."