Celebrating our RREF Network - April

This month we hear from Julian Carey, who graduated from his MSc at Henley in 2004. He discusses his career journey, challenges and opportunities ahead and the joy of working in the Real Estate Industry.

I graduated from the University of Reading MSc course in 2004 before joining JLL on their graduate recruitment programme, qualifying as a surveyor in 2006. After a few years at LaSalle Investment Management, I took the leap and set up my own fund management business, C2 Capital, in 2009.  That business grew into something I'm really proud of and we ultimately sold it as part of a transaction that led to the creation of Industrials REIT, which was acquired by Blackstone in 2023. I then became CEO and we've since launched Indurent, bringing together Industrials REIT and St Modwen Logistics into one of the UK's largest developers, owners and operators of industrial and logistics space, with a portfolio compromising over 40m sq ft. 

What do you love about working in the industry?

Real estate is one of the largest and oldest industries in the world, and it offers a hugely diverse array of roles to those of us fortunate enough to work in it. Whether you are analytical, social, strategic or community driven, there are roles and career pathways available to you. However, what I love most is that we are all anchored to the physical real estate that underpins the industry, the buildings and spaces that people use every day. That brings us together and facilitates engagement with a rich variety of different people as you progress through your career. 

What do you see as some of the key challenges ahead?

Our business has been a strong advocate of technology investment for many years, and we can clearly see that the impact of AI on our industry will be profound. I’m a believer that new jobs will emerge and overall productivity with dramatically improve, but the transition will be fast and challenging and we need to be prepared for it. As a CEO, you need to lean into this opportunity, but it will challenge businesses in ways not witnessed before and require significant structural change. I don’t believe that this period will favour people at different stages in their career, but instead adaptability and a willingness and openness to change will be the key skills required to prosper.

If you could offer some words of wisdom to the students about to graduate from a Real Estate & Planning programme, what would they be?

Alongside the skills that you learn at Reading, you are also building your real estate network. Make sure you take the time now, and in the early years of your career, to build relationships with your peers, colleagues and others in industry. The relationships you build when you are young are difficult to replicate when you get older/more time constrained, so I would advocate for plenty of time in the office and attending lots of social events early in your career. You will be amazed how valuable those connections will become later in life on a personal and professional basis.

Thank you Julian for sharing your experiences within your career and your advice for the next generation of Real Estate Professionals!