SpencerBurton

1. 2025Oct – Present

   CRE Agents

   Co-Founder & CEO

   CRE Agents (CREAgents.com) connects the AI tools professionals already use to real estate-specific methods and data, giving those tools the expertise needed to perform commercial real estate work. Building on technology developed and deployed at Stablewood, CRE Agents helps individuals and firms improve the quality of their work, expand their output, and reclaim their time.

   • Lead company strategy, product development, and execution, translating CRE investment and operating experience into practical AI capabilities.
   • Oversee the development of real estate-specific tasks, workflows, and data integrations that help AI assistants perform research, financial modeling, document analysis, and writing.
   • Direct go-to-market strategy, partnerships, and customer acquisition, working with CRE professionals to identify valuable use cases and implement them within existing workflows.
   • Help firms adopt AI through training, workflow design, and implementation across acquisitions, asset management, development, and brokerage.
   • Build and lead the team responsible for delivering reliable, reviewable work, with professionals retaining responsibility for judgment and decisions.

2. 2014Oct – Present

   Adventures in CRE

   Founder, Co-Contributor

   Adventures in CRE (AdventuresInCRE.com or A.CRE) helps commercial real estate professionals build practical skills, advance their careers, and accomplish more with their time. Co-founded with Michael Belasco while studying at Cornell University, A.CRE provides financial models, professional training, AI education, and career resources grounded in institutional investment experience.

   • Co-created the A.CRE Accelerator, a case-based financial modeling program, and helped train more than 20,000 professionals through A.CRE.
   • Built and shared over 50 institutional-quality real estate financial models and analysis modules, collectively downloaded more than 600,000 times.
   • Wrote and published more than 300 articles on real estate financial modeling, artificial intelligence, careers, and education.
   • Lead the development of practical AI education and resources through AI.Edge, helping professionals apply AI to research, analysis, modeling, and daily workflows.
   • Develop and deliver training for real estate firms and universities, helping teams strengthen technical skills, adopt AI, and improve how they work.

3. 2026Jan – Present

   UNC Kenan-Flagler Business School

   Professor of Practice

   Teaching BUSI 490-141: Real Estate Financial Modeling, a real estate elective at UNC Kenan-Flagler Business School. The course trains students to build institutional-quality Excel models for commercial real estate investment analysis, covering property-level cash flow projections, debt financing, equity waterfall structures, and sensitivity analysis using real transaction data.

4. 2020to 2025

   Stablewood

   Head of Investments, President, Special Advisor

   • Special Advisor, Investment Committee MemberJan 2025 – Dec 2025
   • President2023 – 2025
   • Head of Investments2020 – 2023

   Stablewood is an institutionally backed, multi-strategy real estate operator focused on timely investment strategies nationwide. The firm fuses institutional real estate knowledge with advanced analytics and technological expertise to create an edge. It is led by a team of CRE industry veterans and seasoned data science and tech professionals. Stablewood invests in single-tenant and multi-tenant retail assets, purpose-built student housing investments, and provides capital to developers of STNL retail.

   From 2020 through the end of 2024, Stablewood acquired over 110 commercial real estate assets valued at $400M in over 30 US states.

   • One of the founding partners at Stablewood.
   • Recruited and managed the real estate and technical teams that execute Stablewood strategies, and led the execution of its investment strategies.
   • Helped develop the investment processes and identified appropriate technology solutions to maximize efficiency.
   • Participated in the development of a proprietary technology platform, including a “digital coworker” (AI Agent), that underwrote over 50,000 investments in four years and performs various tasks across sourcing, closing, managing, and selling of commercial real estate investments.
   • Negotiated terms with and managed relationships of the firm’s institutional equity partners and national lending partners.
   • Helped grow the organization from 15 to 22 full-time investment, data, and technology professionals, supported by 12 outsourced contractors, numerous interns hired each summer, and various outsourced service providers.
   • In 2025, served as Special Advisor and Investment Committee member, advising on key investment decisions and long-term strategy.

5. 2015to 2020

   Northwestern Mutual Real Estate

   Investment Manager

   Northwestern Mutual Real Estate (“NMRE”) is one of the largest real estate investors in the nation, with $45 billion in commercial mortgage and equity investments across all major property types, including apartments, office, retail, and industrial.

   • Sourced, evaluated, and closed new real estate acquisition, development, and debt opportunities.
   • Served as investment manager for the regions of Mexico, Texas, Oklahoma, and New Mexico.

6. 2014May – Aug

   USAA Real Estate Company

   Summer Associate, Acquisitions and Asset Management

   USAA Real Estate Company was founded in 1982 as the real estate investment arm of USAA. With over $20 billion in office, industrial, multi-family, retail, and hotel assets under management internationally, the company provides co-investment asset management services to foreign and domestic institutional investors. USAA Real Estate Company also provides capital to partners for development.

   • Assisted the acquisitions team in evaluating 38 institutional quality assets in 13 U.S. states; utilized ARGUS DCF and Excel for quantitative analysis and Costar, Real Capital Analytics, and CBRE Econometrics for market research and analysis; property types included grocery-anchored retail, industrial warehouse and logistics, medical office, CBD office, and urban multifamily.
   • Worked closely with the capital markets group to underwrite senior debt on two separate portfolios, a medical office portfolio valued at $125m and a national bulk industrial portfolio valued at $170m.
   • Helped write five investment briefs for presentation to the investment committee; participated in various due diligence activities on those five investments.
   • Created PowerPoint presentation, developed financial model for an 1800+ unit master planned mixed-use development for review by senior management.
   • Attained mastery of ARGUS DCF 15 and Enterprise, proficiency working in Yardi.
   • Worked with the Asset Management team in converting existing property valuation files from ARGUS DCF 15 to ARGUS Enterprise.

7. 2008to 2013

   Grupo 9 Grados

   Development Manager

   Land Group, S.A. (DBA Grupo 9 Grados) developed innovative housing communities for working class Panamanians.

   • Analyzed potential international real estate development opportunities and led site selection, entitlement, and design.
   • Developed financial models and analysis; communicated recommendations to partners for consideration in purchasing development properties.
   • Helped craft strategic plan, organize company divisions, and develop marketing strategy.
   • Lived in Panama where I managed the day-to-day land acquisition, design, entitlement, construction, sales, and closing activities of the firm.

8. 2005to 2008

   Sydney Cooper Lending Group

   Co-Founder, Managing Member

   Co-crafted concept for a mortgage brokerage that within the first year was originating ~$15 million per month in residential mortgage volume.

   • Developed marketing and financial strategy; co-managed two branches with over 35 employees.

9. 2002to 2008

   Brokerage – Various

   Land and Development Broker

   Focused on commercial and investment-oriented offerings; specifically new residential construction and development.

   • Led or assisted in the risk analysis, acquisition, due diligence, entitlement and marketing of eight residential/mixed use development projects.
   • Sourced and assessed hundreds of properties and completed thousands of hours of due diligence on behalf of my investor/developer clients.

1. Oct 7, 2026

   What 500+ Conversations With CRE Firms Taught Me About AI Adoption

   Over the past couple of years, I’ve had more than 500 conversations with commercial real estate firms about AI.

   Adventures in CRE / Artificial Intelligence

   
2. Sep 6, 2025

   Our Answer to the Urgent Need for AI-Capable CRE Professionals

   In 2019, Michael and I launched the A.CRE Accelerator with a singular mission: equip CRE professionals with the real estate financial modeling skills needed to thrive in…

   Adventures in CRE / Artificial Intelligence

   
3. Jan 4, 2025

   Big Changes Ahead: My Next Chapter + An Invitation to Join Me!

   As the calendar flips to 2025, I’m turning the page to an exhilarating new chapter in my commercial real estate (CRE) journey.

   Artificial Intelligence / CRE Agents

   
4. Aug 6, 2023

   Generative AI and Commercial Real Estate

   As many of you know, I’ve been on an exciting journey diving into the world of generative AI and exploring its applications for commercial real estate.

   Artificial Intelligence

   
5. Nov 21, 2022

   Stablewood Properties – Data and Tech-Infused Real Estate Investor

   In early 2020, I had the pleasure to join the Stablewood Properties team as its Head of Investments.

   Stablewood Properties

   
6. Mar 10, 2019

   A.CRE Accelerator Real Estate Financial Modeling Courses

   In January of this year (2019), Michael and I published our first comprehensive real estate financial modeling training program to Adventures in CRE.

   Adventures in CRE

   

All posts