This Week's Boston Deal Sheet

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Self-storage is sometimes called a "recession-proof" asset class.

It has a history of profitability even during the worst of times — such as in 2008, when the sector eked out positive returns of 5%, even as every other asset class suffered.

So, with the prospect of a recession looming once again, self-storage's mettle might be tested again.

Developers and investors are betting that the sector will triumph once more in a downturn, and coming off a strong 2021, self-storage development is strong in many U.S. markets and investors are buying the properties with gusto.

Read the full story here.

Lendlease, a massive international property investment firm of 8,200 employees, aims to be at the forefront of environmental, social and governance standards across the globe, and Denis Hickey is one of the people pushing the company — and industry — forward.

Hickey, Lendlease’s CEO of the Americas and global chief operating officer, chairs its diversity, equity and inclusion advisory committee and thus has his fingerprint on initiatives like the Cornerstone Program, in which new professionals undergo two years of intensive training, mentorship and networking, including rotating through several roles at the company. The program has hit its target of 60% female and 40% people of color participation.

While many companies are aiming for net-zero carbon, often including carbon offsets, Sydney-based Lendlease has committed to being absolute zero carbon, including its supply chain, by 2040. 

Hickey was a professional cricket player in Australia before he entered the world of business and has been in real estate for 25 years, including serving as CEO of ING Real Estate, Australia. Now that his kids have left home, he spends much of his weekend time on the golf course, a game he said he loves for its social interactions and inclusivity.

Read the full story here.