Michael Levy
The Steward
Legacy, values and the long now, leadership as care and continuity.
Michael Levy reads as The Steward because he leads Crow Holdings through a disciplined rejection of false certainty. He maps what cannot be known, cyclical timing and short-term direction, then routes capital toward durable secular trends and conservative leverage instead. That is strategic humility rather than pessimism, long-range foresight paired with resilience against the forecasts that inevitably fail.
“On that point, a year ago, this would be a global phenomenon as well as a US phenomenon, the vast majority of investors, when you said what are your most favored asset classes, would have said industrial and multifamily. What are your least favorite asset classes? They probably would have said something like retail and office.”
“I'm not sure it's a unique opportunity in the marketplace. The marketplace today is still hunting for that bid ask spread. And the marketplace as well, and Crow as well is looking for what new opportunities are becoming available. We're all waiting for, anticipating some amount of distress, for example.”
“There is now technology that allows you to build very tall buildings out of compressed and laminated wood. It's a much better carbon footprint, the impact of trees growing versus the impact of producing steel has a profound impact.”
“And Trammel had a great optimism, great insight, great foresight, but he also had a way of doing business. He didn't have the means when he started out to employ people. He partnered with people. He had an ability to work with many of the local banks and regional banks to get loans to build real estate.”
Masters in Business: “Michael Levy on Real Estate Finance”
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