In ”Real Angle”, our host, Joshua Kahr, interviews owners, managers, and thought leaders in commercial real estate investment and development. We seek out the unusual and innovative investment strategies that separate them from the rest of the pack.
…
continue reading
1
Residential Land Development, Jackson Stith @ Maverick Capital
35:59
35:59
Play later
Play later
Lists
Like
Liked
35:59
Jackson Stith, principal at Maverick Capital, discusses land development in the Rio Grande Valley. The region is experiencing population growth and economic development, making it an attractive market for real estate. Maverick Capital focuses on land development projects, primarily in the form of multi-family housing. They conduct extensive due dil…
…
continue reading
1
Medical Office Investing, Joseph Caltabiano @ Healing Realty Trust
27:52
27:52
Play later
Play later
Lists
Like
Liked
27:52
In this episode, Josh discusses medical office investing with Joseph Caltabiano, founder and CEO of Healing Realty Trust. HRT is a REIT that acquires medical office buildings and adds psychedelic-assisted therapy clinics as vacancies arise. Remote work has not disrupted medical office buildings and continues performing well. The REIT structure prov…
…
continue reading
1
Fractionalization of Home Ownership, Frank Rohde @ Ownify
30:23
30:23
Play later
Play later
Lists
Like
Liked
30:23
Frank Rohde, Founder and CEO of Ownify, explains a unique alternative to rent-to-own structures. Ownify is an alternative to traditional mortgages for first-time home buyers. It allows buyers to purchase homes and build equity without incurring debt. The homes are fractionalized into 10,000 bricks, which are membership interests in an LLC that hold…
…
continue reading
1
The Rise of Modular Construction, Roger Krulak @ Fullstack Modular
26:58
26:58
Play later
Play later
Lists
Like
Liked
26:58
Roger Krulak, founder and president of Fullstack Modular, discusses modular construction and its benefits. Fullstack Modular is a fully volumetric design manufacturer system for mid to high-rise buildings. They have built the tallest modular building in the world, hotels, affordable housing, and student housing. They have factories in Connecticut a…
…
continue reading
1
The Surprising Strength of Post-Pandemic Brick-and-Mortar Retail, Michael Berne @ MJB Consulting
33:51
33:51
Play later
Play later
Lists
Like
Liked
33:51
In this conversation, Joshua Kahr speaks with Michael Berne of MJB Consulting about the state of the retail market and trends. They discuss the role of MJB Consulting in helping clients understand the realistic retail expectations for their projects. They also explore the influence of retail on site planning and space planning and the importance of…
…
continue reading
1
Mobile Home Investing, Sam Hales @ SG Communities
33:23
33:23
Play later
Play later
Lists
Like
Liked
33:23
In this conversation, Joshua Kahr speaks with Sam Hales of SG Communities about mobile home parks and manufactured communities. They discuss the reasons why Sam got into mobile home parks, the challenges of finding product, the lack of new park development, and the perception problem associated with mobile home parks. They also touch on the financi…
…
continue reading
1
State of the Real Estate Accounting Industry, Howard Altshuler @ Weaver
39:57
39:57
Play later
Play later
Lists
Like
Liked
39:57
In this conversation, Joshua Kahr and Howard Altshuler discuss the state of the accounting industry and the Fort Worth real estate market. They explore the growth and opportunities in the Fort Worth area, the impact of the pandemic on the office market, and the strategic growth of accounting firms through acquisitions and private equity investments…
…
continue reading
1
Multi-tenant Flex Industrial Investing, Grant Reaves @ Stoic Equity Partners
32:40
32:40
Play later
Play later
Lists
Like
Liked
32:40
Grant Reaves, Managing Director and Co-Founder of Stoic Equity Partners, discusses the industrial real estate market. Stoic primarily invests in multi-tenant flex industrial properties in the Southeast region of the United States. They focus on secondary markets that offer in-place yield and potential for rent growth. The demand for flex industrial…
…
continue reading
1
High Leverage Balance Sheet Lending, Maxwell Wu @ Fulcrum Lending
36:13
36:13
Play later
Play later
Lists
Like
Liked
36:13
In this conversation, Joshua Kahr speaks with Maxwell Wu, CEO of Fulcrum Lending, about their lending business in the multifamily space. They discuss Fulcrum's high-leverage lending approach, their transition from being a correspondent for Freddie and Fannie to a balance sheet lender, and the importance of technology in their operations. They also …
…
continue reading
1
Exploring Land Development in Texas, Alexander Vitenas @ Land Based Strategies
38:35
38:35
Play later
Play later
Lists
Like
Liked
38:35
In this conversation, Josh Kahr speaks with Alex Vitenas about land development. They discuss the process of land development in Texas, including tax foreclosures and auctions. Alex shares his experience in purchasing distressed assets and flipping properties. He also talks about his funding strategies and the importance of finding the right deals.…
…
continue reading
1
Building a Vertically Integrated Real Estate Company in New Orleans, Michael Merideth @ VPG Enterprise
28:50
28:50
Play later
Play later
Lists
Like
Liked
28:50
Michael Merideth, CEO of VPG Enterprise, discusses his journey with Joshua Kahr in real estate and the growth of his company. VPG Enterprise is a vertically integrated real estate company based in New Orleans, specializing in affordable housing. Michael started investing in small rental properties in 2011 and has since grown the company to include …
…
continue reading
1
Benchmarking Performance, with Norman Miller, Professor Emeritus at the University of San Diego
33:23
33:23
Play later
Play later
Lists
Like
Liked
33:23
In this conversation, Joshua Kahr and Norman Miller, a professor emeritus at the University of San Diego, discuss various aspects of real estate investment. He explains the evolution of family offices and the challenges of benchmarking in real estate. Miller emphasizes the importance of long-term thinking and net present value in investment decisio…
…
continue reading
1
Transitioning from LP to GP, Diana Lin @ Navi Ventures
35:16
35:16
Play later
Play later
Lists
Like
Liked
35:16
In this conversation, Josh speaks with Diana Lin from Navi Ventures. We discuss her role in the company and their focus on value-add multifamily properties. She shares the markets they operate in, including Arizona, DFW, and New Mexico. Diana explains how she transitioned from being an architect to launching her own real estate venture. She emphasi…
…
continue reading
1
Setting Up A First Fund, Diego Hurtado @ Navio Consulting
34:09
34:09
Play later
Play later
Lists
Like
Liked
34:09
Diego Hurtado, Principal at Navio Consulting, discusses fund management and raising funds for small to medium-sized developers. Navio Consulting helps these developers build and set up real estate investment funds, and then assists in managing them. The typical fund structure involves adhering to Regulation D, Rule 506(c), which allows for the mark…
…
continue reading
1
Staffing a Family Office, Brian Adams, Principal @ Mack International
32:22
32:22
Play later
Play later
Lists
Like
Liked
32:22
It's not easy to build a management team for family offices. In this episode, I speak with Brian Adams, Principal at Mack International. We discuss his transition from the commercial real estate industry to executive search for family offices. He explains the unique challenges of hiring for family office positions, including the need for candidates…
…
continue reading
1
Data Driven Development in Boston, Eric Doroski @ Zanzibar Capital
33:36
33:36
Play later
Play later
Lists
Like
Liked
33:36
Summary In this conversation, Joshua Kahr speaks with Eric Doroski, Managing Partner at Zanzibar Capital, about their focus on the Boston market and their investment and development pipeline. They discuss the challenges in the current market, including the lack of debt and equity, and the impact of interest rates. Eric shares insights into their cu…
…
continue reading
1
Online Fundraising and CrowdStreet, Ian Formigle @ CrowdStreet
35:19
35:19
Play later
Play later
Lists
Like
Liked
35:19
In this conversation, Ian Formigle, Chief Investment Officer at CrowdStreet, discusses the role of CrowdStreet as an online platform for individuals to invest in commercial real estate projects. He explains how CrowdStreet acts as a broker-dealer and offers investment opportunities in various asset classes and geographies. Ian also highlights the g…
…
continue reading
1
Energy Rights and Power Production, Chris Pawlik @ EPR Squared
36:41
36:41
Play later
Play later
Lists
Like
Liked
36:41
Chris Pawlik, co-founder of EPR Squared, explains the concept of energy producing retail realty and how the company offers a sale leaseback of energy rights to property owners. By developing energy rights behind the meter, property owners can decrease operating expenses and increase net operating income. The agreements typically last around seven y…
…
continue reading
1
The Efficiency of Multi-Family Offices, Jason Mandel @ Mandel Family Office
37:35
37:35
Play later
Play later
Lists
Like
Liked
37:35
SummaryIn this conversation, Jason Mandel, CEO of the Mandel Family Office, discusses the basics of family offices and the services they provide. He explains the difference between single family offices and multi-family offices, highlighting the benefits of the latter. Mandel emphasizes the importance of holistic financial advice and the role of a …
…
continue reading
1
Financing Energy Projects for CRE, Chad Blevins @ Repower Holdings
38:12
38:12
Play later
Play later
Lists
Like
Liked
38:12
Chad Blevens from Repower Holdings discusses their unique approach to financing energy improvement projects in commercial real estate. Repower Holdings aims to provide capital for energy improvement projects that are part of larger real estate deals, offering an equity position in the overall asset. This approach aligns the interests of the energy …
…
continue reading
1
Urban Infill Development in San Diego, John Allen @ Streamline Development Group
32:31
32:31
Play later
Play later
Lists
Like
Liked
32:31
In this conversation, Josh Kahr speaks with John Allen, founder and president of Streamline Development Group. They discuss John's unconventional route into real estate development and the focus of Streamline Development on urban infill projects in San Diego. They also explore the high demand for rental properties in San Diego, the presence of nati…
…
continue reading
1
From Acquisitions to Asset Management, Roundtable with Montgomery Partners
33:53
33:53
Play later
Play later
Lists
Like
Liked
33:53
In this interview, Josh Kahr gets to sit down with the whole team at Montgomery Partners and talk about the lifecycle of the asset - from acquisition to fundraising to asset management. They are a long-term value-add investor in the multifamily space. They focus on the B to C class space in markets such as California, Colorado, and Nevada, and are …
…
continue reading
1
Tax Appeal and Tax Assessments, David Wolfe @ Skoloff and Wolfe
38:11
38:11
Play later
Play later
Lists
Like
Liked
38:11
In this conversation, Joshua Kahr speaks with David Wolfe, managing partner at Skoloff and Wolfe (https://www.skoloffwolfe.com/), about tax appeals and property tax assessments. They discuss the challenges property owners face with assessments and revaluations, the importance of understanding assessment ratios, and the deadlines for tax appeals. Th…
…
continue reading
1
Investing in the Rodeo Region, Brian Wilson @ Bow River Capital
39:01
39:01
Play later
Play later
Lists
Like
Liked
39:01
In this conversation, Joshua Kahr speaks with Brian Wilson, Managing Director of Real Estate at Bow River Capital (bowrivercapital.com). They discuss Bow River Capital's investment strategy, regional focus on the "Rodeo Region", and how they find quality operators to partner with. They also explore the current market conditions and the timing of ca…
…
continue reading
1
UK Investing Modeling as a Service, Alex Wilson @ Pantera
33:49
33:49
Play later
Play later
Lists
Like
Liked
33:49
In this conversation, Joshua Kahr speaks with Alex Wilson, COO of Pantera (www.panteratechnology.com), a financial forecasting and investment modeling platform for the real estate industry. They discuss Pantera's services, market focus, and expansion plans. They also explore the challenges and opportunities in the PropTech space, including the silo…
…
continue reading
1
Cost Segregation, Part 2, Kim Lochridge @ Engineered Tax Services
33:59
33:59
Play later
Play later
Lists
Like
Liked
33:59
In this conversation, Joshua and Kim discuss energy efficiency tax credits and deductions. They cover the history of these incentives, including the Energy Policy Act of 2005, and focus on two major programs: Section 179D and Section 45L. Section 179D provides a tax deduction for commercial buildings that meet energy efficiency criteria, while Sect…
…
continue reading
1
Cost Segregation, Part 1, Kim Lochridge @ Engineered Tax Services
37:16
37:16
Play later
Play later
Lists
Like
Liked
37:16
In this conversation, Joshua and Kim discuss energy efficiency tax credits and deductions. They cover the history of these incentives, including the Energy Policy Act of 2005, and focus on two major programs: Section 179D and Section 45L. Section 179D provides a tax deduction for commercial buildings that meet energy efficiency criteria, while Sect…
…
continue reading
1
Building a Hotel Brand, Ethan Orley @ Oliver Hospitality
38:23
38:23
Play later
Play later
Lists
Like
Liked
38:23
In this conversation, Joshua Kahr speaks with Ethan Orley, managing partner at Oliver Hospitality (www.oliverhospitality.com), about his journey in the hospitality business. They discuss the challenges of operational oversight, the current deals and expansion plans of Oliver Hospitality, and the availability of equity and debt in the hotel industry…
…
continue reading
1
Economic Forecasting for CRE, Malcolm Frodsham @ Real Estate Strategies
35:14
35:14
Play later
Play later
Lists
Like
Liked
35:14
In this interview, I spoke with Malcolm Frodsham, Director of Real Estate Strategies (www.realestatestrategies.co.uk), an economic forecasting firm that focuses on UK commercial real estate markets. We chatted about a diverse range of topics including how one even gets into this line of work. We talked about what economic forecasting is, and how fi…
…
continue reading
1
Providing Co-Investment for Development, Ashleigh Simpson @ Grosvenor
37:08
37:08
Play later
Play later
Lists
Like
Liked
37:08
In this interview, I chatted with Ashleigh Simpson, Head of Structured Development Finance for Grosvenor's North American property business. Amongst other things, they co-invest with residential developers in for sale and for rent ground-up multi-family developments in the United States and Canada. We discussed what co-investment means and what the…
…
continue reading
1
Family Office Strategies for Real Estate, Adam Fruitbine @ Maxx Properties
25:45
25:45
Play later
Play later
Lists
Like
Liked
25:45
I sat down with Adam Fruitbine, CIO at Maxx Properties (www.maxxproperties.com), in this interview. Maxx Properties is a family office that focuses on owning and managing its multifamily real estate portfolio. To start, we discussed what it means to be a family office, how they think about hold periods, and the role of debt. We also talked about th…
…
continue reading
1
Aggregating Capital, Ron Diamond @ Diamond Wealth Strategies
32:16
32:16
Play later
Play later
Lists
Like
Liked
32:16
In this interview, I spoke with Ron Diamond, CEO of Diamond Wealth Strategies. They are a family office with a focus on commercial real estate. They aggregate capital from over 100 single-family offices and deploy this capital as a collective force alongside their own capital. This collective of capital allows them access to deals that they otherwi…
…
continue reading
1
Growing New Retail IRL, Amol Sarva @ Aikito
24:15
24:15
Play later
Play later
Lists
Like
Liked
24:15
In this interview, I spoke with Amol Sarva, co-founder of Aikito (https://www.aikito.co/), a platform simplifying commercial renovations. As a serial entrepreneur, he co-founded startups including Virgin Mobile USA, Peek, Halo Neuroscience, Knotel, LifeX Ventures, and CornerUp. His extensive experience in entrepreneurship, advocacy for open access …
…
continue reading
1
Expanding Into New Markets, Jonathan Feifer @ Parkstone Management
30:57
30:57
Play later
Play later
Lists
Like
Liked
30:57
In this interview, I spoke with Jonathan Feifer, CEO of Parkstone Management. They are a real estate development company that has built multifamily projects in New York City and New Jersey. They are now expanding to Reno, Nevada. Amongst other things, we discuss the state of the debt and equity markets and the challenges of development in other reg…
…
continue reading
1
Bridge Financing, Kevin McCarthy @ Southmark Capital
34:31
34:31
Play later
Play later
Lists
Like
Liked
34:31
In this interview, I sat down with Kevin McCarthy, CEO of Southmark Capital. Southmark Capital purchases distressed debt and also offers short-term bridge financing. His firm was formed over 20 years ago when he worked with the principals of two family offices to deploy their capital in a specialized platform to purchase distressed debt as a way to…
…
continue reading
1
Hard Money Lending, Deryle Bourgeois and Shaun Bourgeois @ NOLA Hard Money
24:22
24:22
Play later
Play later
Lists
Like
Liked
24:22
Deryle Bourgeois and Shaun Bourgeois are the owners of NOLA Hard Money (https://nolahardmoney.com/) , a high-yield lender that services primarily the Louisiana market. We discussed some of the misconceptions about what "hard money" lending is and what place it serves in the capital markets landscape. We also talked about what a hard money lender lo…
…
continue reading
1
Registered Investment Advisor for Real Estate, Erin O’Boyle @ Harvest Capital Partners
33:17
33:17
Play later
Play later
Lists
Like
Liked
33:17
Erin O’Boyle is a Founder and Managing Partner of Harvest Capital Partners (www.harvestcp.com), an SEC-registered investment advisor that services Public and Private Pension funds and institutions in the commercial real estate space. We had the chance to discuss the state of the market, the mindset of pension funds when it comes to making investmen…
…
continue reading
1
Growing a Development Platform, Stephen Hutto @ 40|M
49:20
49:20
Play later
Play later
Lists
Like
Liked
49:20
In this interview, I spoke with Stephen Hutto, CEO of 40|M. They are an opportunistic value-add investor in the Dallas market. He was previously the CIO of Gemdale USA, a real estate investment and development company that is the US arm of a Chinese-based multi-national developer. We discuss what it takes to grow a national development platform fro…
…
continue reading
1
Non-Bank Lending for Agriculture, Keir Renick @ FarmOp Capital
30:51
30:51
Play later
Play later
Lists
Like
Liked
30:51
In this interview, I spoke with Keir Renick, CEO of FarmOp Capital (www.farmop.com). They are a specialty lender that provides operating capital to farmers. His company provides an alternative lending source for farmers who otherwise would not be able to access credit. They have had rapid growth in the last few years. We discuss what it's like to m…
…
continue reading
1
Impact Investing, Paul Rabinovitch @ a single-family office
33:33
33:33
Play later
Play later
Lists
Like
Liked
33:33
In this interview, I spoke with Paul Rabinovitch, a Senior Advisor at a single-family office. For confidentiality reasons, the name of his employer has been withheld. Paul’s experience includes building one of the largest private portfolios of net zero energy operating buildings in the USA as well as leading-edge workforce housing, affordable housi…
…
continue reading
1
C-PACE Financing, Laura Rapaport @ North Bridge
42:39
42:39
Play later
Play later
Lists
Like
Liked
42:39
In this interview, I spoke with Laura Rapaport, CEO of North Bridge (www.northbridgeops.com). Her company provides C-PACE financing ("Commercial Property Assessed Clean Energy"). C-PACE is a financial tool for property owners to obtain low-cost, long-term financing for energy-efficient equipment, renewable energy, water conservation, resiliency, an…
…
continue reading
1
Large Scale Apartment Development, Joseph Ouellette @ Standard Communities
35:08
35:08
Play later
Play later
Lists
Like
Liked
35:08
In this interview, I spoke with Joseph Ouellette, COO of Standard Communities (www.standard-communities.com). His company is a major developer and investor in LIHTC ("low income housing tax credit") properties and workforce housing in approximately 20 markets throughout the United States. We discuss what it's like to manage organizational growth v…
…
continue reading
1
Rebuilding Detroit, Josh Fuhrer @ Bedrock Detroit
34:57
34:57
Play later
Play later
Lists
Like
Liked
34:57
In this interview, we speak with Josh Fuhrer, VP of Development at Bedrock Detroit (www.bedrockdetroit.com). His company is working on what is arguably the largest-scale private sector development currently underway. We discuss the resurgence of the City of Detroit, his company's role as an engine of economic development, and the impressive scale o…
…
continue reading
1
Automating the Underwriting Process, Parag Goswami @ Clik.ai
18:30
18:30
Play later
Play later
Lists
Like
Liked
18:30
In this interview with Parag Goswami, CEO of clik.ai (www.clik.ai), we discuss AI-assisted real estate underwriting and the future of AI and machine learning in commercial real estate in general. We also talk about the overall real estate cycle and whether the health of the industry overall affects the health of "proptech". We also discuss how the …
…
continue reading
1
Launching a Co-GP Fund, Min Suh @ Steady Capital
27:59
27:59
Play later
Play later
Lists
Like
Liked
27:59
In this interview with Min Suh, Managing Partner at Steady Capital (steady-cap.com), we discuss co-GP funds vs. "friendly equity", the evolution of the capital stack in today's market, and what it's like to raise capital for a first-time fund. We also reflect on whether or not we're about to experience an epic level of debt defaults. Good times. --…
…
continue reading
1
Online CRE Underwriting, Steve Surridge @ Forbury
14:55
14:55
Play later
Play later
Lists
Like
Liked
14:55
In this interview with Steve Surridge, CEO of Forbury, we discuss the technology landscape for real estate investment analysis software, growing into international markets, and how their products expand the usefulness of Excel in analyzing commercial real estate. --- This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate…
…
continue reading
1
Real Estate Development with Not-For-Profit Partners, Brandon Gibson @ The Steinbridge Group
19:12
19:12
Play later
Play later
Lists
Like
Liked
19:12
Welcome to Real Angle. I'm Joshua Kahr, and in this episode, I interview Brandon Gibson, Managing Director at Steinbridge. I think you'll find this to be a very engaging interview. We discuss real estate development, working with not-for-profits, and unlocking hidden value in underutilized land. --- This podcast is sponsored by Kahr Real Estate Ser…
…
continue reading