Tom Masthay is the director of real assets at Texas Municipal Retirement System. He led approximately $1 billion in real estate investment in 2016 for Texas MRS. In this presentation, Masthay navigated the real estate industry through charts and numbers, and explains why “cool investments don’t often get compensated.” He also identified a number of emerging real estate trends that are potentially profitable for institutional investors. The presentation was taped during Trusted Insight Alpha Conference on Jun. 14, 2017 in San Francisco.