podcast July 9 26

Gray Report Podcast/Video: Investor Conversation: George Maloomian

🏢 In this episode of The Gray Report, Spencer Gray sits down with George Maloomian, founder of Cambridge Properties, who’s navigated commercial real estate through multiple boom-and-bust cycles since the 1980s.

📈 George shares how a devastating late-80s overbuilding cycle led him to launch his company at the worst possible time — and the retail development playbook (Eckerd, Publix, Costco, Topgolf, Wawa) that built Cambridge into a trusted net-lease and shopping center developer.

🎯 Topics covered:

  • Why capital chases “comfortable” markets like Charlotte, Nashville, and Austin — and the overbuilding risk that follows
  • The structural absorption limit multifamily markets can’t exceed without a rent race-to-the-bottom
  • What attracted George to invest in Indianapolis over his home markets
  • Cambridge’s first build-to-rent project and the demographic driving demand
  • Construction cost trends and what oil/petrochemical prices from the Middle East could mean for materials
  • Why “people first, project second” has guided every investment decision
  • How market research has evolved from door-to-door site visits to AI and CoStar

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