The Criterion Fund

05/21/2026

A few of the Criterion team were at ICSC Las Vegas earlier this week.

Good conversations, good meetings, and a lot of time spent connecting with industry partners and catching up with people from all across the CRE world.

Always valuable getting some face time outside of calls and inboxes.

05/14/2026

Not every retail deal looks stunning.

At Criterion, we’re typically looking for a combination of durable cash flow, operational upside, and locations where replacement costs no longer pencil.

Below replacement cost.
Daily-needs retail.
High-traffic locations.
Long-term value creation.

Boring? Maybe.
Effective? Historically, yes.

05/13/2026

A bad business partner can destroy a good business.

In Episode 203 of How to Invest in CRE, the team discusses four major deal killers. One of the biggest: trust placed in the wrong people.

“Picking your business partner is as important as picking your spouse.”

It’s a lesson learned through experience, difficult conversations, and seeing firsthand how different people handle responsibility, risk, and integrity.

Listen to Episode 203 to hear the full conversation and the rest of the top deal killers.
🔗 howtoinvestincre.com

05/12/2026

Retail isn’t moving together anymore.

Some categories are quietly pulling ahead while others continue to struggle. In this month’s newsletter, we break down what’s happening across strip centers, retail supply, CRE pricing, and tenant trends.

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05/08/2026

Most investors only see the deals that close.

They don’t always see the due diligence, testing, legal work, inspections, and underwriting that happen before we ever bring a deal to market.

Sometimes that process confirms the opportunity.

Sometimes it kills the deal entirely.

In this case, Criterion spent $30K+ evaluating a deal in Reno before ultimately walking away when the terms no longer made sense.

No investor capital was used.

That’s part of the responsibility on our side: taking risk first, eliminating as much uncertainty as possible, and only moving forward when we believe the deal warrants it.

🎧Listen to Episode 202 of How to Invest in CRE to hear more.

04/29/2026

It’s not just deals. It’s the people behind them.

Introducing (officially) a few newer members of the team driving sourcing, capital, and asset performance at Criterion.

Different roles, same focus: disciplined ex*****on and long-term value.

Want to see what they’re working on next?

Join our investor list: thecriterionfund.com/list

04/27/2026

Uncertainty is where the best CRE deals usually get made. Not because markets are “bad,” but because decision making gets sloppy. Less competition. More motivated sellers. More opportunity for disciplined buyers.
Watch here: https://youtu.be/YXKUSR7rRQA

Why the Best Commercial Real Estate Deals Happen in Uncertain Times

04/08/2026

We got some of the Dallas crew in the same room, and it delivered.

We held our first Criterion Meet & Greet in Dallas last week.

We walked through an upcoming deal, answered questions in real time, and spent the evening with investors, partners, and a few new faces as well.

There are some things you can’t get over email. It’s exactly why we’ll be doing more of these.

Appreciate everyone who joined us at Nuri Steakhouse ()

Next stop coming soon.

04/06/2026

Smaller markets… overlooked or just misunderstood?

The CRE market is not moving in one direction. Smaller deal sizes are stabilizing first, while the largest assets are still repricing.

Criterion is staying disciplined on basis and buying what we can operate, not what looks good in a headline.

Our Q4 2025 purchase of Gateway Plaza in Midwest City is a simple example.

Everyday retail. Real demand. Room to improve.

If you want more of how we think about deals:
thecriterionfund.com/list

04/05/2026

Most investors can’t buy deals because their underwriting assumes timid rent growth. We focus on what we can control so the deal can actually produce returns.
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