As family-owned real estate firms evolve, the complexities of succession, governance and growth become increasingly significant. TRD’s Hannah Kramer recently visited Anchin’s New York headquarters to meet with members of the firm’s Real Estate Group to discuss the dynamics of working with multi-generational real estate families. The conversation explored how transitions between generations can reshape strategy, risk tolerance, and capital structures.
According to Zurab Moshashvili, Partner at Anchin, one of the key inflection points in a family real estate business occurs when management transitions to a new generation.
“As the new generation takes over managing the business, that generation may have a different strategy in their mind, and they may also have a different risk profile,” Moshashvili explained. “As families grow, they must keep up with the sizes of deals that they’re acquiring, and in order to be able to keep up with the larger deals, they must bring in third-party investors.”
This shift often requires a recalibration of governance and capital strategy. Younger family members tend to embrace more institutional investment structures, partnerships, and diversification strategies compared to the conservative, self-financed models favored by prior generations.
The discussion also underscored the importance of maintaining institutional continuity and long-term advisory relationships as the business evolves.
As family offices and multi-generational property owners navigate succession, proactive planning is essential.
“Many families have both active and passive members, especially as generational transitions happen, explains Kevin McHale, Tax Partner at Anchin. Understanding that, coupled with our hands-on approach to serving our clients, really helps us work proactively and successfully with these families.”
Structuring capital access, updating tax and estate strategies, and aligning risk management frameworks with modern market realities are all part of a successful transition.
Anchin’s team emphasized that thoughtful planning, transparency, and collaboration are vital to preserving both wealth and family legacy across generations.
To explore more insights from this discussion, watch the full interview with Anchin’s Real Estate Group to learn how advisory partnerships can help sustain multi-generational success in real estate.