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Building a Vertically Integrated Housing Company with $2bn AUM - Casey Lynch, CEO of Roundhouse [Replay]
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Roundhouse is a fully integrated developer and operator of multifamily housing. Starting with a single condominium purchased amidst the financial crisis in 2009, we have since developed and acquired a portfolio of over 5,000 multifamily homes.
Today, Roundhouse focuses exclusively on providing high-quality housing options in emerging cities across the Western United States. In order to deliver superior experiences to our employees and residents we have built a fully integrated service offering that spans the construction, property management, and design disciplines.
On this episode, Jake & Casey discuss:
- Learning to structure long-term horizon deals
- Avoiding competing with institutional capital
- Structuring deals for acquisitions vs. developments
- The advantages of being vertically integrated -
- Casey's 6-month sabbatical and how to have your company be successful without you
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Links:
Roundhouse: https://rndhouse.com/
Casey on Twitter: https://twitter.com/roundhouse208
Topics:
(00:02:18) Casey’s RE Career in Southern California
(00:11:40) The decision to pivot out of LA
(00:15:54) Learning to structure long-term horizon deals
(00:18:41) How do you avoid competing with institutional capital?
(00:22:04) How have you figured out how to raise enough capital without going to someone with deeper pockets?
(00:24:41) How do you structure deals when they are acquisitions vs. developments?
(00:31:08) How often are you refinancing in order to return capital?
(00:35:48) How do you think about Capex in multifamily over long hold periods?
(00:43:38) How are you differentiating your high-end products?
(00:47:00) What are the advantages of being vertically integrated?
(00:50:59) What does enterprise value mean to you?
(00:57:53) Are you at a point where the team can raise capital without you?
(01:02:28) What was the scenario that led to you buying out your partner?
(01:07:51) How do you ensure leadership values are being replicated across the business?
(01:11:29) What was the biggest insight you gained from your 6-month sabbatical
(01:19:44) Casey’s emphasis on design
(01:22:18) What is your favorite hotel?
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