ULI joins the nation in commemorating Women’s History Month this March and International Women’s Day on March 8th. We are celebrating the achievements women have made over the course of history and the many contributions of our women members, staff, partners, and society at large. We are committed to pursuing unrelenting efforts to shape the built environment toward diverse, equitable, inclusive communities. We are honored to spotlight Jennifer Keith, Managing Partner with Ethos Real Estate, for her commitment to furthering women in land use.

Jennifer Keith is a Managing Partner with Ethos Real Estate and a seasoned real estate professional with over 20 years of experience in investment banking, private equity, distressed debt and public-private partnership. She is also a sought out thought leader on California public policy, land use, affordable housing and building political, community and financial stakeholder consensus. Jennifer holds a Master of Real Estate Development from the Price School of Public Policy at the University of Southern California and a Bachelor of Arts in Economics and German Literature from the University of Virginia. She is a frequent guest lecturer and sits on numerous national, state and local boards of organizations in the real estate and affordable housing space.

How did you get into the Real Estate Industry?

I was offered a job as an analyst at an investment bank and was by chance placed in the real estate investment banking group. I was able to get a broad view into the real estate fundraising, financing, acquisition and joint venture process and over time was fortunate enough to migrate over to the sponsor/operator side of the business.

What was the best business decision you made?

The best business decision I made was not to try and go it alone. I have spent the last decade building two operating platforms with the same partner. I admire people who go it alone, but to have someone that you trust completely, that goes through the ups and downs with you and who you can bounce ideas off of along the way is, to me, completely invaluable.

What has been your biggest lesson or mistake that you have learned the most from?

Doing workouts during the 2008 financial crises certainly solidified the extreme risk of personal guarantees for me. Once you’ve done a guarantor pursuit, you think about it very differently going forward.

Why is involvement in ULI valuable?

So much of success in real estate is driven by forming strong networks. ULI has helped me cultivate some incredible relationships both locally and nationally. These have been foundational for me in the way of providing strategic advice, sounding boards and the exchange of innovative approaches in the constantly changing market landscape.

What advice would you give to someone entering the industry today?

Be flexible in your career path. Real estate is a very cyclical business, and you’ll need to be prepared to sit in any number of seats (e.g. acquisitions, workouts, asset management etc.) if you are hoping to maximize your learnings and have longevity in the industry.