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Michael Glosserman, Member of DPRE Advisory Board and Trustee of JBG Smith

May 14, 2025

Episode Speakers

Todd Rich

Host

Michael Glosserman

Member of DPRE Advisory Board and Trustee of JBG Smith

Strategies Mentioned

Private InvestmentsReal Estate

In this episode of the declarations. podcast, Host Todd S. Rich welcomes Michael Glosserman, longtime real estate executive, member of Declaration’s Real Estate Advisory Board and Trustee of JBG Smith, for a wide-ranging conversation about career evolution, institutional alignment, and the long-term view required to build something enduring.

From growing up in a small Texas town to co-leading one of the most prominent real estate firms in Washington, DC, Michael shares pivotal lessons from his 28 years at JBG, his early influences at The Rouse Company, and the many market cycles he’s weathered across five decades in real estate. He reflects on how capital structures, team development, and investor relationships shaped JBG’s growth—from individual deal-making to discretionary funds, and eventually to the public markets through JBG Smith.

They also discuss:
• The impact of long-term partnerships and alignment with investors
• How JBG navigated downturns, scaled its team, and transitioned to a public REIT
• The firm’s role in urban development
• Lessons from working closely with top-tier institutional capital
• Thoughts on the current challenges facing the DC market
• Why investing in high-growth, business-friendly markets may hold more opportunity today
• His personal philosophy on family, giving back, and living in the moment

This episode offers hard-won insight from a leader who helped shape a major firm and now brings the clarity of hindsight to what it means to grow thoughtfully, lead with humility, and stay present through it all.

Topics:
(00:00:00) – Intro
(00:01:24) – Introducing Michael Glosserman
(00:04:18) – Michael’s Early Life in Lockhart, Texas
(00:09:02) – From Texas to Wharton: Michael’s Educational Journey
(00:13:08) – Michael’s early career
(00:20:21) – Joining JBG
(00:27:28) – Securing Yale as an Investor
(00:28:46) – Lessons from Yale’s Investment Approach
(00:31:25) – JBG’s Growth and Transition to Public Company
(00:32:31) – Navigating the 2008 Financial Crisis
(00:34:50) – Challenges and Strategies in Real Estate Investment
(00:40:07) – Reflections on Washington DC’s Real Estate Market
(00:50:13) – Family and Philanthropy
(00:53:40) – Closing Thoughts and Advice

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This podcast (“Podcast”) is provided for discussion and informational purposes only, for use by Declaration Partners LP together with its affiliates referred to as (“Declaration”) and should not be considered investment, legal, or tax advice. Past performance is not indicative of future outcomes. This Podcast does not constitute an offer to sell or the solicitation of an offer to purchase any investment product or any interest in the Fund or any other investment vehicles or accounts managed or advised by Declaration. Investing involves a certain degree of risk, including the risk of loss. This Podcast may contain certain forward-looking statements, which may not materialize. No compensation has been awarded to any speaker for statements made that are either testimonials or endorsements. However, certain speakers may be current or former investors in certain Declaration investment products and may receive reduced fees, priority terms, priority access, co-investment rates, among other preferential treatment, which may pose a conflict of interest. Certain speakers may also be affiliates and/or service providers that receive compensation from Declaration for services provided in their service provider capacity but have not been compensated specifically for any testimonials or endorsements made herein. The views expressed in this podcast by either the guest speaker or the host are their own and may not reflect the views of their firm, Declaration, or their respective affiliates. The information discussed in this Podcast may change at any time without notice, and there is no duty by Declaration to update any person to whom this information is provided. Neither the US Securities and Exchange Commission nor the securities regulatory authority of any state or other jurisdiction has passed upon the accuracy or adequacy of this Podcast.

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