Inspiring Leaders in Our Changing Industry: Arturo Sneider, Primestor

This summer, Connect CRE is producing a series titled, “Inspiring Leaders in Our Changing Industry” as a follow-up to last summer’s “Leading in Tough Times” series. We’ve selected leaders around the U.S. and across the commercial real estate spectrum to discuss significant changes in the industry and their organizations. In this installment, you’ll hear from Arturo Sneider, CEO of Primestor.

A Triumph to Celebrate: What recent organizational accomplishment brings you the most satisfaction? What specific challenges did it overcome, and what key factors led to its success?

After many years of working with some terrific capital partners and mentors, Primestor finally launched Primestor Investment Management, LLC, an SEC – registered investment adviser, to manage private real estate funds. This is very significant for our team because we are humbled by the recognition of our track record and discipline over the last decades. In an industry that continues to be incredibly homogenous, capital remains one of the most elusive and entrenched sectors for minority firms to have access to. Due to a combination of the covid pandemic and the lack of access to investors in our sector, this effort has taken nearly a decade to come to fruition. As a minority owned, operated and demographically focused firm, our strategy has most often been misunderstood and labelled as narrow and/or concessionary when in fact is very broad, fast-growing and has consistently delivered market equivalent returns while making material positive changes to some of our most underserved and underinvested communities. We have faced (and continue to do so) many challenges because, generally speaking, the mainstream market bundles real estate as a monolithic asset class and brushes the development and performance of the segment under one very wide stroke. It has taken our team incredible effort and dedication to consistently explain and demonstrate how our approach is unique and essential to the overall wellbeing of the local economy supported by an explosive, hard-working, ethical and young population that continues to fuel the us economy.

Catalysts for Change: What are the essential elements for achieving significant progress within your organization and the industry as a whole?

Consistent discipline, deep research and attention to detail continue to be our guiding principles. Regardless of technological advances and networks, the fundamental reality that we are in the “real” estate industry grounds us to be mindful that what we do is very tangible and must be field verified and studied up close. Markets change quickly and this practice has helped us implement new tech and pivot but always mindful of the impact our industry has on the quality of life of our neighborhoods.

Guiding the Next Generation: As we acknowledge the industry’s rising stars, what guidance can you offer them to become catalysts for positive change?

I believe that curiosity and humility are the two key elements for long term success and stability in our industry going forward. As an industry we need to define “profit” in much broader terms and encompass the social, economic and structural wellbeing of the communities we work in and with. This industry carries this essential responsibility. As next generations mindfully come into the workforce, we have the unique opportunity to guide them this way and deliver on all of these elements and support an incredible industry that has one of the most profound impacts on daily life.

Click here to see the full Inspiring Leaders in Our Changing Industry series.