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12 episodes with net lease
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11 episodes with net lease
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Despite shifting fundamentals and increasing economic uncertainty, Gordon Whiting of TPG Angelo Gordon says that net lease assets are providing downside protection. Tariffs, interest rates, and a volatile stock market are weakening commercial real estate investment sentiment and pushing capital back to the sidelines—but net lease assets are the silver lining. Gordon Whiting, founder and co-portfolio manager of TPG Angelo Gordon's net lease strategy and a recent recipient of GlobeSt.com's Influencers of Net Lease award, has an optimistic outlook on net lease investment opportunity this year. Whiting sat down to talk about the net lease investment market. In the interview, he explains: ● How the macroeconomic environment could affect net lease asset performance and investment ● Opportunity for sale-lease back deals as companies look to monetize real estate assets ● Why he is optimistic about net lease activity (and interest rates) in the second half of the year
In this episode, host David Abrams is in conversation with Dennis Cisterna, Managing Partner & Chief Investment Officer of Sentinel Net Lease for an engaging discussion about navigating the challenges of today's commercial real estate market, embracing technology, and enhancing customer experience. Dennis offers insights into addressing housing shortages through innovative solutions like modular housing and discusses how new technologies, including AI, are reshaping efficiency, tenant experience, and asset management.We explore the challenges facing today's commercial real estate market, from elevated interest rates to evolving office and retail sectors. As we look ahead, Dennis predicts transformative trends in office space supply and demand, emphasizing the growing importance of building-level intelligence and customer-centric approaches. Whether it's the resurgence of experiential retail or reimagining older properties, this conversation offers a roadmap for navigating the future of CRE.It's an episode packed with actionable insights and forward-thinking ideas—don't miss it!Subscribe to TEN so you never miss an episode of the Tenant Experience Network.
Twenty-year veteran net lease investment advisor Nancy Miller, CCIM joins show host Michael Bull CCIM in Studio One to share an update on the STNL market. Discussions include cap rates, financing, transaction volume, hot properties and tips for developers, buyers and sellers in 2025. Bull Realty - Customized Asset & Occupancy Solutions: https://www.bullrealty.com/ Commercial Agent Success Strategies - The ultimate commercial broker training resource: https://www.commercialagentsuccess.com/ Watch the video versions of our show on YouTube! https://www.youtube.com/c/Commercialrealestateshow Follow us at: @BullRealty https://twitter.com/bullrealty @CRE_show https://twitter.com/CRE_show
Enjoy this conversation with Ben Kogut, of Rooster Equity. Ben is focused on single tenant net lease properties in the retail, medical, and industrial space. He focuses on value add strategies by extending leases, capitalizing on rent bumps, and taking advantage of other value add strateiges to increase values. Connect with Ben:https://roosterequity.com/https://www.linkedin.com/in/benkogut/Click to text the show! Email Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*Some or all of the show notes may have been generated using AI tools.
Episode Title: From Hockey Glory to 1031 Stories: The Net Lease PlaybookEpisode Overview: In this episode, BJ and Isaiah tackle two seemingly unrelated topics—hockey memories and real estate—but bring them together in their signature style. The conversation ranges from reminiscing about seventh-grade choir trips and boarding school hockey days to a deep dive into the current state of 1031 exchanges and the net lease market. BJ and Isaiah use their industry insights to break down the basics of 1031 exchanges, analyze recent market data, and discuss how this niche part of real estate impacts everyone from individual investors to large institutions.Highlights:Seventh Grade Choir & Cherry Hill Trips:Isaiah kicks off with a humorous story from his childhood choir days, sharing a trip to Cherry Hill and the adventures that came with it. This sets a relaxed, relatable tone before diving into real estate insights.Hockey Banter and Boarding School Memories:The hosts swap stories about hockey culture, including BJ's kids' budding passion for hockey and Isaiah's memories of East Coast prep school. They touch on the significance of hockey in their lives and even suggest a hockey-themed episode someday!1031 Exchanges Explained:BJ breaks down 1031 exchanges, covering how this tax-deferral tool enables real estate investors to defer capital gains when they reinvest in “like-kind” properties. This section is great for listeners unfamiliar with 1031 exchanges or those wanting a refresher on its role in wealth building.Real Estate Data Debate:The hosts discuss the challenges in tracking accurate 1031 data. Referencing sources like CoStar, BJ and Isaiah critique the accuracy of self-reported data and highlight how real estate trends aren't always as they appear on paper. They also share their approach at Northmarq for analyzing transaction volume and 1031 trends.Interest Rates and Market Dynamics:With rising interest rates, the hosts discuss the impact on 1031 transaction volumes and cap rates. They share insights on how institutions are benefiting from current market conditions as private investors become more cautious.Looking Ahead: New Podcast Studio and Video Format:BJ and Isaiah wrap up the episode with excitement about their new office space, featuring a dedicated podcast studio and plans to incorporate video into future episodes. The new setup promises visual aids like whiteboards for deeper dives into data and analysis.Key Takeaways:1031 Exchanges Are Declining: Rising interest rates have reduced transaction volumes in the 1031 market, impacting private investors but creating new opportunities for institutional players.Tracking 1031 Data Is Tricky: Reliable data on 1031 transactions is challenging to find, making it essential for investors to question sources and take self-reported data with a grain of salt.Net Lease Properties as a Strategic Hold: For investors in 1031 exchanges, net lease properties offer a flexible option, acting as a “holding vehicle” with strong liquidity, making it easier to defer taxes while seeking new investment opportunities.Institutional Wins: With fewer 1031 buyers in the market, institutions face less competition, positioning them to acquire assets at attractive rates.Quotes of the Episode:“This episode might be about real estate, but the hockey talk might steal the show!” — BJ“Net lease is the only real estate asset you can underwrite in a night with confidence. That's why it's the go-to for 1031.” — Isaiah“We live in a world of made-up stats. Numbers lie and figures lie. It's all mumbo jumbo.” — IsaiahDon't Miss: The playful banter on Cherry Hill trips and hockey practice, the thoughtful analysis on real estate's biggest trends, and the teaser about the new studio setup for future episodes!Call to Action:If you enjoyed this episode, don't forget to subscribe, share, and leave a review! Follow us for more updates and industry insights on net lease, 1031 exchanges, and everything in between. Join us next week for more #NetTakeaways.
Episode Notes:Title: Market Imbalances, Grocery Retail Boom & The Fed's Next MoveHosts: Bryn Feller and Isaiah HarfEpisode Overview: In this episode of Net Takeaways, Bryn and Isaiah cover major trends in the commercial real estate market, focusing on key shifts in supply and demand imbalances, the grocery retail segment, and the Federal Reserve's influence on market movements. Here are the main takeaways:1. Market Supply-Demand ImbalanceThe hosts analyze the growing inventory in the net lease retail market, which has surged from $9 billion in 2022 to over $24 billion in 2024.The imbalance between available inventory and actual sales is stark, with projected full-year sales for 2024 at just over $10 billion, representing only 40% of the available inventory.Bryn and Isaiah discuss how cap rates need to rise further to help clear inventory and create stability in the marketplace.2. Grocery Retail: The Hottest SegmentGrocery-anchored retail is the current "hot" segment in commercial real estate, drawing interest from institutional investors, family offices, and private investors.The trio of grocery real estate categories—single-tenant, multi-tenant, and shadow-anchored centers—perform differently, with all segments remaining strong despite inflation concerns.The hosts attribute the strength of the grocery sector to its essential nature in driving foot traffic and supporting service-based retail, which has helped brick-and-mortar retail stay relevant.3. Shrinking 1031 Exchange Participation1031 exchanges, which previously accounted for 60-65% of the net lease market, are now down to around 15-20%.The hosts explore how the market is adapting to fewer tax-motivated investors and the emergence of yield-motivated buyers. They predict that 2025 will be a banner year for opportunistic investors, with substantial profits likely in both retail and office sectors.4. Federal Reserve, 10-Year Treasury & Geopolitical RisksBryn and Isaiah discuss how the market has pre-empted the Federal Reserve's actions, with the 10-year treasury yield reacting more to economic forecasts than to the Fed's moves.They anticipate oil prices could rise further due to geopolitical tension in the Middle East, potentially leading to inflation spikes that could delay rate cuts.5. Lighthearted Banter:The episode concludes with a humorous segment about Hurricane Milton, the hosts' personal routines, and a reference to BJ's late grandfather. Despite the seriousness of the storm's impact, the conversation provides a fun and humanizing moment.Key Quotes:"The real 800-pound gorilla isn't Chairman Powell, it's inventory levels. Cap rates have to rise if we want to clear this stock.""Grocery-anchored retail is the hottest thing out there right now. It's the industrial of three years ago.""2025 will be the year we look back and say people made a killing by buying in this market."Actionable Takeaways:Investors should keep a close eye on cap rate movements as the market seeks balance.Grocery-anchored retail remains a safe bet for long-term growth and stability.While the future of 1031 exchanges remains uncertain, yield-based investment opportunities abound.Be mindful of the impact that global events, particularly oil prices, may have on inflation and the Fed's next moves.Next Episode Preview: In the next episode, BJ and Isaiah will dive into new trends in logistics real estate and discuss whether the industrial sector will continue its upward trajectory or face new headwinds.Closing Remarks: Like, share, and subscribe to Net Takeaways with Feller & Harf on your favorite podcast platform. Stay tuned for more insights into commercial real estate and market dynamics.
Episode 33: Fed Rate Cuts, Cap Rate Chaos, and Net Lease NightmaresKey Topics Covered:The Fed's Recent Rate Cut – We break down what the much-anticipated rate cut means for commercial real estate and why the excitement may be a little overblown. If you've secured fixed-rate financing recently, this news might not change much for you.Cap Rate Trends – With inventory levels in net lease markets skyrocketing, we explore how this supply surge is shifting investor behavior and driving up cap rates. Plus, we explain how market dynamics might lead to tougher decision-making for investors facing a glut of options.Net Lease Mistakes – From co-tenancy clauses to the dangers of relying on personal guarantees, we tackle the common (and costly!) errors that investors need to avoid in today's market. Learn why giving away control of your destiny can make deals unravel.Market Velocity – After a slow summer, deal-making is picking up. We discuss why commercial real estate transactions are starting to move again and the psychology behind it. Is FOMO driving buyers to jump in, or is it more about capital managers needing to deploy funds before the year ends?Fun Sidebar – Listen in as BJ and Isaiah debate the pros and cons of Apple Music vs. Spotify, share a laugh over car tech quirks, and celebrate how a little humor helps lighten heavy industry insights.Key Takeaways:The rate cut is old news—don't fall for the hype.Inventory overload in net lease is creating cautious (and choosy) investors.Co-tenancy clauses and personal guarantees can be sneaky pitfalls—know what you're signing.Market velocity is back, but is it for the right reasons?Mentioned in this Episode:July and August deal-making trendsInventory trends in net lease marketsCap rates: where they are and where they're headedPersonal guarantees and tenant financialsThe psychology of decision-making in an oversupplied market
Join Dennis Cisterna, Chief Investment Officer at Sentinel Net Lease, and Karly Iacono, SVP at CBRE, as they debate Sentinel's unique investment strategy. Listen in as they discuss the value of the office sector, geographical diversification, financing strategies and more. For convenience please see topics and related video time stamps below: Finding value in the office sector: 2:42 Geographical diversification: 7:16 Opportunity in net lease retail: 13:04 Sourcing deals and opportunities: 19:44 Fund structure and financing strategies: 22:26 Concerns for the next few years: 28:53 Product types Sentinel Net Lease is targeting: 32:06 Watch. Learn. Excel. Learn more about Sentinel Net Lease: https://sentinelnetlease.com/ Karly Iacono | Senior Vice President CBRE Investment Properties O (201) 712-5612 | M (201) 600-3237 karly.iacono@cbre.com Warning-IRS Circular 230 Disclosure: CBRE and its affiliates do not provide tax advice and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, by the recipient of any Information for the purpose of avoiding U.S. tax-related penalties; and was written to support the promotion or marketing of the transaction or other matters addressed herein. Accordingly, any recipient of this video should seek advice based on your particular circumstances from an independent tax advisor. You also agree that the information herein down not constitute legal, defeasance or other professional advice and you should obtain legal advice from a qualified attorney licensed in your state. The opinions contained in this video are those of Karly Iacono and may not represent those of CBRE. All content is for educational purposes only. The following content may contain the trade names or trademarks of various third parties, and if so, any such use is solely for illustrative purposes only. All product and company names are trademarks™ or registered® trademarks of their respective holders.
Enjoy this discussion with Ron Rohde, principal at Ronald Rohde Law. In this conversation, Jonathan and Ron discuss Ron's strategy with net lease industrial properties, trucking, IOS, and what it takes to be successful in this asset class. Connect with Ron:https://www.youtube.com/c/ronaldrohdelawhttps://twitter.com/rohde88Click to text the show! Support the podcast by making a monthly donation through Patreon. When you contribute, you'll get access to bonus content not available anywhere else. If you enjoyed this episode, you would probably enjoy reading my weekly newsletter. Every Friday, you'll get a behind the scenes look at my investing, including current events in commercial real estate, deals I'm working on, and random personal things going on in my life. It's a super quick read and you can unsubscribe anytime. - Jonathan Subscribe to the newsletter here: www.thesourcecre.com/newsletterEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*Some or all of the show notes may have been generated using AI tools.
Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Mark Pomella, Vice President at SAB Capital where we discuss: The $30B market hiding within dealerships, How private equity values car lots, Dealership real estate tax hacks and much more. This episode of the Car Dealership Guy Podcast is brought to you by: OPENLANE - The world's best online dealer marketplace for used cars, bringing you exclusive inventory, simple transactions, and better outcomes. New to OPENLANE? Sign up now and receive a $350 buy fee credit. Learn more at https://www.openlane.com/ Cars Commerce - The platform to simplify everything about buying and selling cars. Learn more at https://www.carscommerce.inc/ SAB Capital -SAB Capital is a brokerage powerhouse of experienced investment sales professionals providing advisory services that create an impact across a variety of sectors and asset classes consisting of Net Lease, Retail, Industrial, Affordable Housing, Leasing, 1031, Sale Leaseback, and Capital Markets. Learn more at https://www.sabcap.com/ Interested in advertising with Car Dealership Guy? Drop us a line here Interested in being considered as a guest on the podcast? Add your name here Topics: (00:00:00) - Intro (00:01:38) - The state of the commercial real estate market today (00:04:16) - Mark's role at SAB Capital (00:05:48) - What are sale lease-backs? (00:07:30) - Why are dealers looking to sell their real estate as a form of financing? (00:09:48) - What is a dealer paying on average in a mortgage as a percentage of sales? (00:12:19) - Are you targeting any specific regions of the country? (00:18:51) - How does selling the real estate impact the value of the dealership? (00:22:02) - Tax consequences (00:23:05) - How do sales impact the experience of the facility? (00:25:13) - What regions and brands are performing well right now? (00:27:09) - Who are the people buying these properties (00:32:01) - How are you getting deals across the table in this market state (00:33:22) - Closing thoughts Check out SAB Capital here. Check out Car Dealership Guy's stuff: CDG News - https://news.dealershipguy.com/ CDG Jobs - https://jobs.dealershipguy.com/ Instagram - https://www.instagram.com/cardealershipguy/ TikTok - https://www.tiktok.com/@guydealership X - https://x.com/GuyDealership LinkedIn - https://www.linkedin.com/company/cardealershipguy/ Everything else - dealershipguy.com This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.
In this episode, Jonathan sits down with Dennis Havrilla, a former professional football quarterback turned successful investor, to delve into the world of net lease retail investing.They explore how to identify high-quality tenants, the nuances of this unique investment strategy, and the pivotal role mentorship plays in both personal and professional growth. Whether you're a seasoned investor or just starting out, this conversation offers valuable insights that can help you make informed decisions and foster meaningful connections in your journey.In this episode, we discussed:The benefits and challenges of net lease retail investments.Dennis shares his journey from the football field to the world of finance and investing.Strategies for building a sustainable and profitable investment portfolio over time.CONNECT WITH DENNIS:Email: dennis@havrillacommercial.comWebsite: https://havrillacommercial.com/Social Media Links - InstagramCONNECT WITH JONATHANTo connect with Jonathan, you can send an email to info@greystonecapgroup.com or schedule a time to chat.To learn more about real estate investment opportunities, join the Greystone Capital Investor Network.Thanks for listening and until next time!
Introduction:BJ Feller and Isaiah Harsh open the episode with a casual conversation about Lollapalooza in Chicago.The hosts introduce the main topics: zombie pharmacies in NYC, unemployment and interest rates, and the impact of technology in commercial real estate.Zombie Pharmacies in New York:Discussion on the New York Times article about 222 dark big-box pharmacies in NYC, with specific statistics on their distribution across boroughs.Analysis of the negative impact on urban retail vibrancy and sales tax revenue.Exploration of the rise of independent pharmacies filling the void left by major chains.Economic and Market Updates:Review of the latest jobs report showing 110,000 jobs added in July, below the projected 170,000, and the potential implications for unemployment and Federal Reserve policy.Discussion on the drop in the 10-year Treasury yield and its impact on financing conditions in commercial real estate.Insights into how these economic shifts might affect cap rates, particularly in multifamily, retail, and office sectors.Placer.ai and Real Estate Analytics:Debate on the growing reliance on Placer.ai data in the retail investment world.Concerns raised about the accuracy and overdependence on cell phone data for retail traffic analysis.Emphasis on the importance of considering traditional metrics like unit-level sales performance and market rent comps.Closing Thoughts:The hosts conclude with a discussion on Q4 market expectations, highlighting the potential for increased deal activity due to lower interest rates.A light-hearted segment on favorite desserts, with a special mention of Joe's gluten-free options and RPM Steak's chocolate cake.Listener Engagement:Encouragement for listeners to provide feedback and questions for future episodes.This episode provides a comprehensive overview of current trends and challenges in the commercial real estate market, with a blend of serious analysis and entertaining banter.
This episode explores the latest net lease trends in commercial real estate with Darpan Patel, Senior Vice President of Investments at Marcus & Millichap.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode, host Yannis Papadakis converses with Darpan about his journey in commercial real estate. Darpan shares his career progression from banking to becoming Senior Vice President at Marcus & Millichap, the formation of the Patel-Yozwiak Group, and the importance of mentorship. The discussion also explores the current state of the net lease market, the benefits and risks associated with net lease investments, and Darpan's advice for investors and brokers navigating today's challenging economic landscape. Meet Darpan Patel: Career HighlightsDarpan's Journey into Commercial Real EstateMentorship and Career LessonsWork Ethic and Team DynamicsThe Patel-Yozwiak Group: Formation and Market InsightsNet Lease Sector: Trends and OutlookRapid Fire Questions and Closing Remarks About Darpan Patel:Darpan Patel joined Marcus and Millichap as an Associate in April of 2012. He was promoted to Senior Associate in April 2016, elevated to First Vice President Investments in July 2019 and Senior Vice President in May 2023.Since joining Marcus & Millichap, Darpan has closed more than 350 transactions equating to more than $725 million of property sales in 40 states. His clients include developers, high net-worth investors, syndicators, medical professionals, private equity funds and private investment groups.Mr. Patel and his partner, Mr. Yozwiak, joined together in 2020 to form the Patel-Yozwiak Group of Marcus & Millichap. They lead a team of professional consultants that provide advisory services across the entire net leased sector. They have breadth and depth of experience in retail, restaurant, office, industrial, medical and hospitality. The team has closed in excess of 650 transactions valued in excess of $1.4B, across 40 states.Darpan graduated from the University of Cincinnati with a Bachelor of Business Administration, with a focus in Finance and Investments. He is a member of the International Council of Shopping Centers and in 2020 he received the ICSC Certified Retail Real Estate Professional (CRRP) designation, awarded to those with a high level of industry fluency.The Patel Yozwiak Group is quite active in supporting charitable and non-profit organizations, including Feeding America, Cincinnati Center for Autism, Cystic Fibrosis Foundation, The Point Arc, St. Judes, Feeding Tampa Bay and numerous other local organizations. If you enjoyed this episode, please subscribe to our newsletter to receive the very next one delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi's blog. Ready to find your next CRE property? Visit Crexi and immediately browse hundreds of thousands of available commercial properties. Follow Crexi:https://www.crexi.com/ https://www.crexi.com/instagram https://www.crexi.com/facebook https://www.crexi.com/twitter https://www.crexi.com/linkedin https://www.youtube.com/crexi
In this episode Feller & Harf explore the latest news in Sak's and Nieman's big merger and what it means for the mall and retail landscape more broadly. The latest Big Lots filing hales trouble ahead, what it means for the discount retail world. And what BJ & Isaiah are watching in the months ahead.
In this conversation, Jonathan talks with Dennis Havrilla, former professional football quarterback. The two discuss unique investing strategy of net lease retail, identifying quality tenants, and the power of mentorships in our personal and professional lives. Connect with Dennis:https://www.instagram.com/dhavrilla4/Click to text the show! Support the podcast by making a monthly donation through Patreon. When you contribute, you'll get access to bonus content not available anywhere else. If you enjoyed this episode, you would probably enjoy reading my weekly newsletter. Every Friday, you'll get a behind the scenes look at my investing, including current events in commercial real estate, deals I'm working on, and random personal things going on in my life. It's a super quick read and you can unsubscribe anytime. - Jonathan Subscribe to the newsletter here: www.thesourcecre.com/newsletterEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*Some or all of the show notes may have been generated using AI tools.
A Closer Look at Essential Net Lease 81 and San Antonio Multifamily 74 DSTs Chay Lapin, President of Kay Properties & Investments describes two new debt-free Delaware Statutory Trusts offerings that include the Essential Net Lease 81 DST and the San Antonio Multifamily 74 DST.
Enjoy this conversation with Laith Hermez, founder of Ironside Realty. Laith focuses on buying single tenant net lease deals in great locations with great tenants. In this conversation, Jonathan and Laith discuss the opportunities in STNL right now, buying all cash, developing a competitive advantage, and the future of STNL. Connect with Laith:https://www.linkedin.com/in/laith-hermiz-00709b54/https://twitter.com/LaithHermizCEOhttps://www.ironsiderealty.com/https://twitter.com/IronsideRealtyLaith@ironsiderealty.comClick to text the show! Support the podcast by making a monthly donation through Patreon. When you contribute, you'll get access to bonus content not available anywhere else. If you enjoyed this episode, you would probably enjoy reading my weekly newsletter. Every Friday, you'll get a behind the scenes look at my investing, including current events in commercial real estate, deals I'm working on, and random personal things going on in my life. It's a super quick read and you can unsubscribe anytime. - Jonathan Subscribe to the newsletter here: www.thesourcecre.com/newsletterEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*Some or all of the show notes may have been generated using AI tools.
Today, Laith Hermiz joins us to share his incredible experience in retail development and expertise in seizing opportunities in the retail space!Laith discusses how he continues to thrive in the single-tenant net lease despite some challenges in the market, the present and future trends in the retail business, and more insights that will help you stay ahead of the game in this asset class. Key Points & Relevant TopicsLaith's extensive background in real estate developmentHow to stay ahead of the competition in the single-tenant net lease spaceThe future of single-tenant net lease and retail real estateThe impact of online sales and businesses on retail real estateWhat's the real challenge in the market today and what makes Laith optimistic in the retail spaceCurrent trends and future opportunities in the STNL spaceThe importance of networking, taking risks and action, and starting early in real estateResources & LinksApartment Syndication Due Diligence Checklist for Passive InvestorAbout Laith HermizLaith Hermiz founded Ironside Realty to transform long-term relationships into high-quality development projects and acquisition opportunities. As founder and Chief Executive Officer of Ironside Realty, Laith is responsible for the execution of company strategy, including implementing and directing all development and investment transactions and guidance for all asset management activities. Mr. Hermiz has a diverse background in commercial real estate both in the public REIT and private sectors. He has acquired and developed over $2 billion worth of STNL retail, shopping center, mixed-use, and industrial projects. Prior to founding Ironside Realty, Mr. Hermiz served as Chief Operating Officer and Executive Vice President with Agree Realty Corporation. During his time at Agree Realty, he was integral in the company's growth from 73 properties to over 1,600 properties in just over 11 years. He served as the point person to all major retailers, establishing invaluable, enduring relationships throughout the industry. Prior to Agree Realty, Mr. Hermiz held positions as Vice President of Development and Redevelopment with Ramco-Gershenson Properties Trust, a large shopping center REIT. Mr. Hermiz holds a B.S. from Loyola University, Chicago, and a Juris Doctorate from the University of Detroit-Mercy School of Law. He is a licensed attorney and real estate broker in the state of Michigan and an active member of the State Bar of Michigan and the International Council of Shopping Centers. Get in Touch with LaithWebsite: https://www.ironsiderealty.com/ Email: laith@ironsiderealty.com LinkedIn: Laith HermizTo Connect With UsPlease visit our website www.bonavestcapital.com and click here to leave a rating and written review!
Brian Brisky is the founder of Brisky Net Lease. In this conversation, Brian and Jonathan discuss the challenging times that net lease is having, where opportunities lie, the future of pharmacies, how institutional players are acting right now, and how a client-centered approach has led to huge growth for Brisky Net Lease. Connect with Brian:https://brisky.com/https://www.linkedin.com/in/brian-brisky-7a486680/Support the podcast by making a monthly donation through Patreon. When you contribute, you'll get access to bonus content not available anywhere else. If you enjoyed this episode, you would probably enjoy reading my weekly newsletter. Every Friday, you'll get a behind the scenes look at my investing, including current events in commercial real estate, deals I'm working on, and random personal things going on in my life. It's a super quick read and you can unsubscribe anytime. - Jonathan Subscribe to the newsletter here: www.thesourcecre.com/newsletterEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*Some or all of the show notes may have been generated using AI tools.
This episode covers deal insights and need-to-know trends in Tampa Bay's net lease market with Ari Ravi of RIPCO Real Estate.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. Host Ashley Kopovich sits down with Ari Ravi for an in-depth discussion on his journey and expertise in commercial real estate. Ravi reflects on lessons learned from his career path and shares insights into the importance of mentorship, relationship building, and a client-focused advisory mindset in the CRE sector. The conversation also covers the resilience and opportunities in the CRE market, particularly in net lease assets and the evolving dynamics of the Tampa Bay area as a desirable investment location. Their wide-ranging discussion includes: Meet Ari Ravi: His Journey Through Commercial Real EstateAri's Origin Story: From Door-to-Door Sales to CRE SuccessThe Power of Mentorship and Learning from FailureBuilding a Career in CRE: Hard Work, Commitment, and BalanceInvesting in Relationships: The Key to Success in CREStarting Strong in CRE: The Value of a Tough MarketTeam Development and Leadership: Ari's ApproachBuilding a Supportive Team: The Importance of MentorshipThe Power of Respect in Professional RelationshipsNavigating the Tampa Bay Real Estate Market: Trends and InsightsThe Resilience of Net Lease Assets: A Deep DiveThe Impact of Economic Conditions on Real Estate InvestmentsRapid Fire Questions: Insights from a Real Estate ExpertFinal Thoughts: The Best Time to Enter Real EstateAbout Ari Ravi:Ari Ravi joined RIPCO Real Estate Services in December 2022 with a focus on investment sales for multi-tenant and single-tenant assets.Ari entered the commercial real estate industry with Prudential Commercial Real Estate FL in 2008 specializing in sales and leasing for office and retail buildings in the Tampa Bay MSA. From 2013-2019 at Marcus & Millichap, Ari was an investment sales agent before moving into a Regional Manager position overseeing the Tampa office until 2019, where he experienced revenue growth every year.In 2019, Ari joined CBRE where he specialized in investment sales with a focus on multi and single tenant retail/office assets. During his tenure at CBRE, he closed approximately $200 million in transaction volume.Ari received his bachelor's degree from the University of Florida's Warrington College of Business. Previously, he attended Berkeley Preparatory School in Tampa. If you enjoyed this episode, please subscribe to our newsletter to receive the very next one delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi Insights. Ready to find your next CRE property? Visit Crexi and immediately browse hundreds of thousands of available commercial properties. Follow Crexi:https://www.crexi.com/ https://www.crexi.com/instagram https://www.crexi.com/facebook https://www.crexi.com/twitter https://www.crexi.com/linkedin https://www.youtube.com/crexi
Are Single-Tenant Net Lease Properties Right for Your Investment Portfolio?This episode of the Real Estate Syndication Show dives deep into this investment strategy with Laith Hermiz, the President and Founder of Ironside Realty. With a whopping $2 billion in transactions under his belt, Laith offers invaluable insights on the evolution and current state of the STNL retail market.Laith's journey started in real estate law before transitioning to development with major REITs. This experience fueled his passion for STNL, leading him to launch Ironside Realty in late 2021. Their focus? Acquiring prime STNL assets nationwide, with a keen eye on the ever-changing retail landscape.Key Takeaways on the STNL Retail Market:Evolving Net Lease Landscape: The STNL sector is booming, attracting new investors and specializing in various submarkets like medical, industrial, and retail.Market Shift: A slowdown in deal volume and a widening price gap between sellers and buyers mark the current market. Rising interest rates favor all-cash buyers.Investment Strategies: Ironside Realty prioritizes essential service retailers with established e-commerce platforms and inflation-resistant lease structures. Creditworthiness and long-term property value are key considerations.Building Relationships: Laith emphasizes the importance of industry connections for accessing off-market deals and gaining a competitive edge.Challenges and Opportunities: While rising interest rates pose a hurdle, they also even the playing field by increasing borrowing costs for institutional investors. Value buys exist in specific sectors like dollar stores and car washes.Connect with Laith Hermiz on LinkedIn or visit Ironside Realty's website at www.ironsiderealty.com to learn more about STNL investment strategies.Thank you for tuning in! Remember to like, subscribe, and share the Real Estate Syndication Show with friends interested in building wealth through real estate. Visit lifebridgecapital.com to start investing today.VISIT OUR WEBSITEhttps://lifebridgecapital.com/Here are ways you can work with us here at Life Bridge Capital:⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow
Kay Properties & Investments Betty Friant, Managing Director and Executive Vice President and Matt McFarland, Senior Vice President discuss in detail two current debt-free DST offerings from Kay Properties & Investments. Debt-Free DST Offering Number One: The first offering is for a Pepsi Distribution DST 64. This Net Lease Distribution DST is located in Frankfort, NY and is a 61,000 square foot industrial building with brand new construction. This asset has a current 10 year net lease on the property and is eligible for a 721 Exchange Rollup as a potential exit strategy. Debt-Free DST Offering Number Two: The second offering is for Florida Net Lease 72 DST. This asset currently has a new 20-year net lease in place that is corporately guaranteed with annual rental increases. Located in the Miami MSA, this net lease is for a Guidepost Montessori school.
Welcome to a captivating episode of the “Inner Edison Podcast,” where we're about to dive into a thought-provoking discussion with real estate maven Agostino Pintus. Today, we're peeling back layers on how to build wealth through property investment, with Agostino sharing his multifaceted approach to acquisition, development, and net lease, focusing on assets that provide steady returns and withstand economic fluctuations. As someone who transitioned from a corporate IT job into the multilayered world of real estate, Agostino brings to the table a treasure trove of experience, from nurturing small multifamily deals to managing big syndications. Strap in as we dissect the practical tactics behind his successful ventures, and learn about his educational endeavors that guide aspirants in navigating the real estate space. We'll confront the tough questions too—Ed Parcaut doesn't shy away from the realities of a post-pandemic market and the ongoing dialogue on issues like housing, a shifting political landscape, and the critical need for proactive leadership. Together, we'll explore the value of cash flow investments, the significance of having multiple sources of passive income, and the strategic importance of property classification and market understanding in achieving real estate success. Join us in this engrossing conversation that goes beyond properties and profits, touching on social dynamics, the evolution of political parties, and the pertinence of educating the next generation on historical and economic matters. It's an episode filled with stories of real-world triumphs, insights into smart investments, and reflections on the broader implications of current trends. Whether it's understanding the potential of your first duplex investment or untangling the complexities of rent control in California, this podcast promises to enlighten, inform, and inspire. And as our world becomes increasingly unpredictable, grab the chance to gain clarity on securing your financial future, right here, on the Inner Edison Podcast. Follow Ed on all social media outlets @EdParcaut Need more information? Please visit https://www.edparcaut.com #EdParcaut #InnerEdisonPodcast #AgostinoPintus #RealEstateInsights #InvestmentStrategies #CashFlowInvesting #RealEstateEducation #PassiveIncome #SyndicationConcerns #PortfolioBuilding #RealEstateMentorship #AcquisitionsDevelopment #NetLeaseInvestments #OffsettingInflation #MultifamilyRealEstate #AssetClassification #RealEstateProfits #HomeownershipSecurity #EconomicOutlook #LuxuryRentalsAffordability #RealEstateJerky #WealthThroughRealEstate #PoliticalEconomyImpact #RealEstateMasterminds #ReaganLeadership #SuperBowlTalk #ElectionUncertainty #SocialismShift #VeteransAndVA #HistoricalPoliticalEducation #CashflowVsAppreciation #BuildingEquity #LeveragingHomeEquity #WorkforceHousingChallenges #PropertyDevelopmentFocus #LandlordStereotypes #DuplexInvesting #RentControlIssues #CaliforniaRealEstateMarket #BulletproofCashflow
Twenty-year veteran net lease investment advisor Nancy Miller CCIM joins show host Michael Bull CCIM in Studio One to share an update on the STNL market. Discussions include cap rates, financing, transaction volume, hot properties and tips for developers, buyers and sellers in 2024. Lument - Lending is more than a loan: https://www.lument.com/ Bull Realty - Customized Asset & Occupancy Solutions: https://www.bullrealty.com/ Commercial Agent Success Strategies - The ultimate commercial broker training resource: https://www.commercialagentsuccess.com/ Watch the video versions of our show on YouTube! https://www.youtube.com/c/Commercialrealestateshow Follow us at: @BullRealty https://twitter.com/bullrealty @CRE_show https://twitter.com/CRE_show
Today, my guest is Michael Salafia. Michael is the Founder and Managing Partner of Stax real estate LLC, a platform for sale leaseback of single tenant Net Lease real retail assets, located in Miami Beach. And in just a minute, we're going to speak with Michael Salafia about the benefits of triple net sale lease backs for both investors and tenants.
Ash Patel and Dan Lewkowicz discuss Dan's real estate journey and expertise in net lease investments. They explore strategies for risk mitigation and profit maximization in single tenant properties, comparing them with multifamily assets. Dan offers practical advice for investors in the retail and net lease sectors, emphasizing the importance of analyzing tenant and property health. Dan Lewkowicz | Real Estate Background Senior Director | Encore Real Estate Investment Services Based in: Birmingham, Michigan Say hi to him at: LinkedIn Best Ever Book: Think And Grow Rich by Napoleon Hill Greatest Lesson: Having to start over as a CRE broker after getting out of house flipping. Sponsors BAM Capital
Get ready for another route to invest in real estate as we've invited the Godfather of Blockchain Real Estate, Michael Flight, to talk about the future of tokenization, his deep knowledge of NNN investing or triple net properties, and diversification strategies investors can take advantage of. Leverage the power of technology by tuning in to this episode!Key Points & Relevant TopicsMichael's journey as a retail real estate broker to getting into blockchain technologyWhat is blockchain technology and how does it work in real estateAn electronic marketplace to trade and purchase real estate shares Is there a fee associated with trading and selling tokenized assets?Why does it take a year to trade an asset or share in the marketplace?The future of tokenization in the financial and investment industryDifferences between tokenized assets and cryptocurrencyBest real estate assets for diversification in terms of tokenizationBenefits of investing in Triple Net Lease (NNN) properties Possible reasons why people owning shopping centers and retail properties exit despite good NOI and cash flowAdvantages of investing in debt fundsAdvice for investors to prepare for a possible recessionResources & LinksInvest on Main Marketplace: https://iom.ai/ Nothing But Net - Triple Net Show: https://nothingbutnet.us/ Blockchain real estate report: https://investonmain.com/real-estate-tokenization-report/ Apartment Syndication Due Diligence Checklist for Passive InvestorAbout Michael FlightMichael Flight is a real estate expert who has been named the Godfather of Blockchain Real Estate by Forbes Crypto. Michael is the founder of the Blockchain Real Estate Summit and co-founded Liberty Real Estate Fund, a Net Lease Property Security Token which has revolutionized real estate investing with access to stable & tradable private real estate. With over 35 years of experience, Michael is a seasoned entrepreneur specializing in retail real estate investment, redevelopment and a real estate tokenization pioneer. In 1990, Michael co-founded Concordia Realty Corporation, which has partnered with the world's most prominent banks, insurance companies, hedge funds, and institutional investors to deliver many successful projects. Michael is also the co-host of the Nothing But Net - NNN Show podcast, which educates about triple net/net leased properties. Michael's expertise has been recognized in media outlets such as CNBC, Real Vision, CEO Magazine, Yahoo Finance, CrowdFund Insider and others. Michael has been elected to public office, served on real estate investment advisory boards for two non-profits, and is a founding board member for Freedom of Life, a Romanian NGO that helps alleviate human trafficking. Get in Touch with MichaelLinkedIn: Michael FlightWebsite: https://investonmain.com/ To Connect With UsPlease visit our website www.bonavestcapital.com and click here to leave a rating and written review!
On this episode of the Impact Real Estate Podcast presented by Jackson Lucas Executive Search, we take a look at the Net-Lease space with a key voice in the field, Bill Dioguardi, Chairman and CEO of Four Springs Capital Trust. Bill truly has his hand on the pulse of all things real estate and he walks us through recent shifts in the RE world that will have an impact on the way we do business. Apple Podcasts: https://apple.co/3I3nkG9Spotify: https://spoti.fi/35ZJGLTWeb: https://www.jacksonlucas.com/podcast/bill-dioguardi03:11 - Use of capital04:36 - 4 decades of an interesting career 08:08 - The net lease space 15:41 - Dramatic and quick world shifts 18:19 - Fabric of the global world 22:07 - The wake-up call 25:50 - The biggest challenge for CEO 27:19 - Diluting the wine31:27 - Data-drive decisions 34:08 - The Hot Seat presented by KK Reset
Today's topic is net lease investments, and we're joined today by Sharon Kilmer, a managing director on TPG Angelo Gordon's Net Lease Real Estate team.
Ever wonder how the world of net lease properties operates or how you can navigate it? Prepare to gain valuable insights from our experienced guest, Russell Wachtler from NNNPro Group. With his two decades of experience in the industry, you'll be guided through the ins and outs of net lease asset class. We explore underwriting, 1031 exchanges, sale leasebacks, bonus depreciation, and much more. We also dive into the impact of rising interest rates on capital cost and cap rates, providing a fresh perspective on how local credit unions might offer better terms. It's a power-packed discussion that will leave you equipped with the knowledge to succeed in the net lease space.1:50 - Interest Rates5:15 - Net Lease Asset Class11:09 - Exploring Sale Leasebacks and Net Lease16:20 - Net Lease Tenants Scenarios and Examples29:45 - Buyer Profiles33:40 - Net Lease Tax Strategy: 1031 Exchanges and Bonus Depreciation44:29 - Retail Repositioning and Development55:00 - Creative Real Estate Strategies and OpportunitiesContact: Russell Wachtler(o) 332.345.4206 | (c) 646.643.0418(e) rwachtler@nnnpro.comFollow IPRG: @iprg_nywww.IPRG.com
Ever wonder why triple net leases are considered a preferred choice for many seasoned investors? Our episode today features a riveting discussion with Dan Lewkowicz, a seasoned expert in net lease investments and a Senior Director at Encore Real Estate Investment Services. He decodes the attractiveness of triple net lease investments, particularly to sizable institutions, highlighting their predictability and built-in rental escalations.Setting our sights on the broader economy, we dissect the impact of interest rates on the real estate market. Lewkowicz sheds light on the disparity between the federal funds rate and cap rates, and we dive into the landscape of residential real estate, Dow and Nasdaq, as well as the sentiment of the Federal Reserve. We also tackle the topic of distressed real estate assets - a niche that holds promise if navigated strategically. Lewkowicz impresses upon the importance of property evaluation and cultivating strong broker relationships for optimal gains.To cap off our episode, we go deeper into the benefits of triple net investments, looking at how value can be added. Lewkowicz illustrates this with an example of a Walgreens property in Cleveland, Ohio and the 'blend and extend' strategy that led to a substantial equity gain. We also explore how LinkedIn can be leveraged for real estate success. And finally, in a climate of market uncertainty, we share insights on staying informed and drowning out the noise. Looking to expand your knowledge of net lease investments and gain valuable insights from industry expert Dan Lewkowicz? Click here to tune in to the full episode and unlock a wealth of knowledge that can help you thrive in real estate investing! https://lifebridgecapital.com/2023/08/09/net-lease-investing-for-stable-and-predictable-returns-dan-lewkowicz/https://lifebridgecapital.com/2023/08/10/value-add-commercial-real-estate-with-blend-and-extend-amendments-dan-lewkowicz/VISIT OUR WEBSITEhttps://lifebridgecapital.com/Here are ways you can work with us here at Life Bridge Capital:⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow
Dean has successfully brokered the sale of over $4 billion in retail properties in 38 states across the country and leads the firm's regional retail team. He has established himself as one of the top retail agents in the firm, consistently ranking in the Top 30 of the 1,800+ agent pool in the firmUnique and challenging assignments include the disposition of a 17-property leasehold portfolio in the great recession, the sale of the infamous Watergate shops and parking in Washington, D.C., and multiple sale leaseback assignments for Wawa Corporation.Connect with Dean:https://www.marcusmillichap.com/advisors/dean-zanghttps://www.linkedin.com/in/dean-zang-03b3534/Support the podcast by making a monthly donation through Patreon. When you contribute, you'll get access to bonus content not available anywhere else. If you enjoyed this episode, you would probably enjoy reading my weekly newsletter. Every Friday, you'll get a behind the scenes look at my investing, including current events in commercial real estate, deals I'm working on, and random personal things going on in my life. It's a super quick read and you can unsubscribe anytime. - Jonathan Subscribe to the newsletter here: www.thesourcecre.com/newsletterEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*Some or all of the show notes may have been generated using AI tools.
Dan Lewkowicz is a seasoned real estate veteran with over 15 years of experience in many facets of the real estate industry. Starting his career “house hacking” he quickly moved on to flip houses in and around metro Detroit and eventually created a company called Renaissance Real Estate Ventures which specializes in the acquisition, financing, renovation, and resale of single-family residential properties in the booming city of Detroit, Michigan. Before forming The Lewkowicz Group of Encore Real Estate Investment Services, Dan was a Senior Advisor at Fortis Net Lease specializing in commercial real estate investment sales. Dan is also a former business development executive for Amazon in Detroit Michigan. Currently, Dan is Senior Director of The Lewkowicz Group of Encore Real Estate Investment Services and specializes in shopping centers, medical office buildings, industrial fulfillment centers, quick service restaurants and automotive repair and parts stores. Dan has five lovely children and resides in Birmingham, Michigan with his wife Brady Lewkowicz and enjoys running, boxing, lifting weights, yoga, and playing acoustic guitar. HIGHLIGHTS IN THE SHOW: 00:00 - Intro 01:35 - Dan's Background 04:29 - Impact Equity Ad 04:57 - Net Lease 06:30 - Absolute Triple Net Lease 12:10 - Getting Started, Passive Investor 13:49 - Funding Triple Net 17:56 - Qualified Investor 21:40 - DSCR 22:46 - Insurance and Taxes 25:00 - Graduating to Net Lease Investments 26:30 - Current Market Trends 28:39 - Analyzing Deals 30:49 - When Leases Expire 32:46 - Returns 37:30 - Educational Resources 39:28 - Bucket List 40:04 - How to Invest 100k 41:18 - Connect With Dan CONNECT WITH OUR GUEST:https://www.linkedin.com/in/dan-lewkowicz/ CONNECT WITH OUR HOST: Connect with our host, Randy Smith, for more educational content or to discuss investment opportunities in the real estate syndication space at www.impactequity.net, https://www.linkedin.com/in/randallsmith or on Instagram at @randysmithinvestor ---------------------------------------------------------------------------------------------------------------------------- Follow us on social media @the.gentle.art.of.crushing.it Listen, like, subscribe, comment: http://thegentleartofcrushingit.com/
Join Joel Tomlinson, Managing Director of Ares Net Lease Strategy and Karly Iacono, Senior Vice President at CBRE, as they dive into an institutional view on the net lease sector. Listen is as they discuss Ares' recent $3.8 billion dollar acquisition of Capital Automotive; how deal targets are changing given market conditions; and why net lease remains an attractive play. Watch. Learn. Excel. Learn more about Ares, a leading global alternative investment manager with over $360 billion dollars under management: https://www.aresmgmt.com/ Karly Iacono | Senior Vice President CBRE Investment Properties O (201) 712-5612 | M (201) 600-3237 karly.iacono@cbre.com Warning-IRS Circular 230 Disclosure: CBRE and its affiliates do not provide tax advice and nothing contained herein should be construed to be tax advice. Please be advised that any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, by the recipient of any Information for the purpose of avoiding U.S. tax-related penalties; and was written to support the promotion or marketing of the transaction or other matters addressed herein. Accordingly, any recipient of this video should seek advice based on your particular circumstances from an independent tax advisor. You also agree that the information herein down not constitute legal, defeasance or other professional advice and you should obtain legal advice from a qualified attorney licensed in your state. The opinions contained in this video are those of Karly Iacono and may not represent those of CBRE. All content is for educational purposes only. The following content may contain the trade names or trademarks of various third parties, and if so, any such use is solely for illustrative purposes only. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with, endorsement by, or association of any kind between them and CBRE or Karly Iacono.
Single-tenant net lease private equity real estate funds have many advantages. Hannah Kirby, principal managing partner of HHKirby Real Estate Ventures, joins the show to discuss the availability and benefits of investments in single-tenant net lease funds. Show notes & transcript: https://opportunitydb.com/2023/08/hannah-kirby-277/
Unravel the mystery of net lease investing with seasoned professional, Dan Lewkowicz from Encore Real Estate Investment Services. With a 15-year track record in the industry, Dan offers his expert insights into asset classes such as shopping centers and medical office buildings. He highlights the importance of a skilled team and unwavering determination in securing successful deals.Imagine knowing your rent costs for the next two decades - doesn't that sound like a dream? With triple net leases in commercial real estate, this dream can become your reality. Dan provides an in-depth comparison between these and multifamily investments, demonstrating why the former is a more secure and dependable asset class. He also provides a comprehensive analysis of the current real estate market climate, offering an economic forecast for the next 6 to 18 months.Our conversation concludes with a discussion on the importance of cultivating relationships with top clients. Dan shares his valuable advice for brokers on the benefits of allowing trusted buyers first access to new deals, ensuring smoother transactions. We also explore the concept of commercial property value and how to accurately assess it.Don't miss out on this opportunity to learn from one of the best in the business. This is a must-listen for anyone interested in the world of net lease investing. Connect with Dan on LinkedIn today. Expand your network, gain valuable insights, and start a conversation that could elevate your investment knowledge. Your journey into mastering net lease investing begins with this click!VISIT OUR WEBSITEhttps://lifebridgecapital.com/Here are ways you can work with us here at Life Bridge Capital:⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow
This episode covers scaling a national net lease team from zero to $4 billion with Alex Sharrin, JLL's Co-Head of Corporate Capital Markets & Net Lease.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and discover the latest trends and updates from the world of commercial real estate. In this episode, Crexi's Yannis Papadakis sits with Alex to cover key habits and strategic decisions, both entrepreneurially and as a commercial real estate professional, that helped Alex become one of the youngest national leaders at JLL. Their wide-ranging conversation includes:Introductions and early career movesMentors and essential lessons learnedEarly days at JLL, saying yes, and creating opportunities for yourselfKey tenets of Alex's work ethic, the importance of saying thank you, and focusing on good serviceHoning your craft, working smarter, and knowing your focus better than anyone elseCreating the most value for your clients as a broker, and keeping them returning for future dealsA 30,000 foot overview of the net lease market today, and what buyers need to knowDifferences in net lease properties across asset classesHow the net lease sector has evolved over the past five yearsIf you enjoyed this episode, please subscribe to our newsletter to receive the very next one delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi Insights.Ready to find your next CRE property? Visit Crexi and immediately browse hundreds of thousands of available commercial properties.Follow Crexi:https://www.crexi.com/ https://www.crexi.com/instagram https://www.crexi.com/facebook https://www.crexi.com/twitter https://www.crexi.com/linkedin https://www.youtube.com/crexiAbout Alex Sharrin:Currently sitting in the Miami office, Alex Sharrin has spent almost eight years with JLL. He joined JLL's Corporate Capital Markets and Net Lease platform as an analyst in 2015 in Chicago and has been an integral part of the team's success and growth over the years. Alex focuses on investment sale advisory, alternative financing solutions, and build-to-suit structures for single and multi-tenant net lease real estate owners across all markets, product types, and geographies. His clients include developers, public and private funds, corporate occupiers, high-net-worth individuals, trusts, REITs, 1031 exchange investors, foreign capital sources and family offices. He has closed north of 500 transactions, totaling over $4 billion in deal volume since being promoted to producer in 2018.
Gary Rozier serves as Managing Director for the Oak Street division of Blue Owl Capital in its Chicago, IL office. Gary leads the Investor Relations and Institutional Marketing team for Oak Street, responsible for investor communications, capital raising, and client servicing. He also serves on the investment committee for the Net Lease strategies. Gary served as Senior Vice President at Ariel Investments for 14 years, responsible for institutional business development and client services. Before joining Ariel, Gary spent 5 years with Rydex Investments, holding multiple positions in shareholder services and financial advisor sales before being promoted to regional vice president. He oversaw product development and distribution across nine states in the Midwest. Gary earned a bachelor of arts degree in Economics from the University of Maryland, where he serves on its Board of Visitors, and Economics Leadership Council, and was a captain of the rugby team.
As a commercial real estate broker specializing in multi-tenant leases, Dan Lewkowicz joins us to share his expertise in net lease investing and its distinction with multifamily investing. So if you're looking for a new investment opportunity, this episode may be perfect for you!Key Takeaways to Listen forNet lease property investment vs. multifamily real estate investingTips for determining property value in today's marketHow to evaluate potential deals before purchasing themWhat buyers should keep in mind when working with brokersNet lease market overview and opportunities for conversionResources Mentioned in This EpisodeDisability Made EasyThe NNN Triple Net Property Book by Alan Fruitman | PaperbackCRE Pro CourseFree Apartment Syndication Due Diligence Checklist for Passive Investor About Dan LewkowiczDan is a seasoned real estate veteran with over 15 years of experience in many facets of the real estate industry. Starting his career “house hacking,” he quickly moved on to flip houses in and around metro Detroit and eventually created a company called Renaissance Real Estate Ventures which specializes in the acquisition, financing, renovation, and resale of single-family residential properties in the booming city of Detroit, Michigan.He is the senior director of Encore Real Estate Investment Services and specializes in shopping centers, medical office buildings, pharmacies, quick service restaurants, automotive repair, parts stores, and resorts. Dan has five lovely children and resides in Birmingham, Michigan, with his wife, Brady Lewkowicz and enjoys running, boxing, lifting weights, yoga, and playing acoustic guitar.Connect with DanWebsite: Encore Real Estate Investment Services LinkedIn: Dan LewkowiczPhone Number: (248) 943-2838To Connect With UsPlease visit our website: www.bonavestcapital.com, and please click here, to leave a rating and review!SponsorsGrow Your Show, LLCThinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GrowYourShow.com and Schedule a call with Adam A. Adams
This episode covers relationships as a way to build a nationally successful brand with Glen Kunofsky, CEO and Founder of NNN Pro Group.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode, Crexi's Ashley Kobovitch and guest host Eli Randel, COO of Crexi, sit down with Glen to discuss the origins of NNN Pro Group, his extensive career path, relationship-based advisory philosophies as a broker, and the current state of the net lease market. Their wide-ranging conversation includes:Introductions and early lessons learned in Glen's first few years of commercial real estateImportant mentors, favorite mistakes, and the importance of specialization early in one's careerThe origins of NNN Pro Group, growing a brand, what net-lease investors prioritize in terms of deals, and what sets them apart from other commercial real estate subsectorsPrioritizing relationships, a client-centric approach, and creating lifetime customersMaintaining a start-up mentality with an established company culture and how to retain top-tier talent for the long termCurrent happenings in the national net lease market.And much more! If you enjoyed this episode, please subscribe to our newsletter to receive the very next one delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi Insights.Ready to find your next CRE property? Visit Crexi and immediately browse hundreds of thousands of available commercial properties. Follow Crexi:https://www.crexi.com/ https://www.crexi.com/instagram https://www.crexi.com/facebook https://www.crexi.com/twitter https://www.crexi.com/linkedin https://www.youtube.com/crexi About Glen Kunofsky:Glen Kunofsky is the Founder and Chief Executive Officer of the NNN Pro Group, the market-leading net-lease brokerage team in the country. Since its inception over 20 years ago, Glen and his team have closed over $30 billion in transactions, across more than 10,000 properties, with over $5.6 billion completed this past year.Glen has a long track record of working with some of the nation's largest institutional real estate companies, including publicly-traded REITs, private equity funds, hedge funds, and high-net-worth individuals, family offices, and developers. His vast knowledge and experience structuring sale-leaseback programs and brokering, acquiring, managing, and advising on some of the most complex transactions across retail, office, and industrial properties, has made him a leader in the commercial real estate industry.Glen currently resides in New York City with his wife and two children. Glen is involved in several organizations outside the office, including YPO, the Adaptive Sports Foundation, Arizona State University, and the Victor Green Foundation.
Today Guests Craig Berger & Michael Reyna talk about which things he should keep an eye open for on a first walk though, also they dive into what's different now compared to other recessions, and what their motivations are for getting into multifamily. Interested in learning from me? Visit https://www.thetribeoftitans.info/coachingJoin our multifamily investing community for FREE for in-depth courses and live networking with like-minded apartment investors at the Tribe of TitansLink to subscribe to YouTube channel: https://tinyurl.com/SubYouTubeDiaryPodcastApple Podcasts: https://tinyurl.com/AppleDiaryPodcast Spotify: https://tinyurl.com/SpotDiaryPodcast Google Podcasts: https://tinyurl.com/GoogleDiaryPodcast Follow us on:Facebook: https://www.facebook.com/DiaryAptInv/ Twitter: https://twitter.com/Diary_Apt_Inv Instagram: https://www.instagram.com/diary_of_an_apartment_investor This episode originally aired on April 21, 2023----Your host, Brian Briscoe, has been a general partner in 1000+ units worth over $100 million and has been lead sponsor, asset manager, capital raiser, and key principal on these properties. He has developed a multifamily education community called the Tribe of Titans that helps aspiring investors learn the game, network with other like-minded professionals, and get their apartment investing business to the next level. He is founder of Streamline Capital Group, which will continue to acquire multifamily assets well into the future. He retired as a Lieutenant Colonel in the United States Marine Corps in 2021.Connect with him on LinkedIn----Craig BergerCraig Berger has been an active real estate investor for more than 15 years and founded Avid Realty Partners in 2015 to build scale across Multifamily, Hotel, and Net Lease assets. Here, Craig oversees all of Avid Realty's deal sourcing & underwriting, fundraising, capital markets, operations, and asset management activities. Avid Realty Partners has assembled a topflight management team with substantial experience across multifamily, student housing, LIHTC, and fortune 500 operations, among others. Avid Realty has grown its portfolio meaningfully with roughly 2,000 multifamily apartments acquired to date totaling more than $275M of project capitalization. Learn more about him at: https://avidrealtypartners.com/----Michael ReynaMichael graduated in 2021 with a BA from Mid-America Christian University. From a young age, hard work and grit is something that has been instilled. Being a student athlete has equipped him with the abilities to perform in high paced situations. He knows the importance of a team and having strong relationships is vital to reaching a common goal. He's also built a successful YouTube channel with thousands of subscribers and millions of views. Michael was born and raised in Oklahoma City, Oklahoma. He's the Co-founder and managing partner of GR Property Investments.Learn more about him at: https://www.linkedin.com/in/michael-reyna-576b21236/
Christine Bellish and her husband Danny, are co-founders of The Bellish Team, a real estate investment firm dedicated to helping passive investors preserve and build wealth through strategic real estate acquisitions. As former NYC advertising executives, they spent 15 years managing multi-million-dollar marketing budgets for some of Fortune 500's most recognizable brands but decided to pivot into real estate in 2018 in pursuit of more passive income. In 2021, in their first eight months as general partners, they raised $3M in private capital from passive investors. [00:01 - 01:13] Opening SegmentWe welcome, Christine Bellish!Christine and her husband Danny have been in real estate for about 5 years[01:14 - 30:32] Exploring Net Lease Funds For Reliable Cash FlowMeeting people and attending networking events can lead to unexpected opportunitiesSyndication involves active involvement in raising capital and due diligenceNet lease properties are leased by essential businessesGood customer service and a genuine personality are important in sales and marketing[30:33 - 36:54] THE FINAL FOURWhat's the worst job that you ever had?Worked at a recruiting companyWhat's a book you've read that has given you a paradigm shift?“Rich Dad, Poor Dad” by Robert KiyosakiWhat is a skill or talent that you would like to learn?Working on her patienceWhat does success mean to you?Christine says, “It's similar to what true wealth means to me, which is really time freedom.”Connect with Christine Bellish:Website: The Bellish TeamLinkedIn: Christine BellishFacebook: @thebellishteamInstagram: @thebellishteamTikTok: @thebellishteamLEAVE A 5-STAR REVIEW by clicking this link.WHERE CAN I LEARN MORE?Be sure to follow me on the below platforms:Subscribe to the podcast on Apple, Spotify, Google, or Stitcher.LinkedInYoutubeExclusive Facebook Groupwww.yonahweiss.comNone of this could be possible without the awesome team at Buzzsprout. They make it easy to get your show listed on every major podcast platform.Tweetable Quotes:“People want good customer service, good client relations... And I think that being relatable is really important. So, storytelling is really important.” – Christine Bellish“Boring is good. Boring is reliable.” – Christine BellishSupport the show
In this Topical Tuesday's episode, I spoke with Harsh Hemnani who is an Equity Research Analyst at Green Street covering net lease properties. Be sure to tune in if you're interested in learning about: The most exciting new trends that are currently seen in the net lease investment space Strategic changes that net lease REITs are employing at the moment How private market investors can study REITs to get a leg up on their competition How cap rates differ across net lease properties based on property type and location How net lease properties are expected to perform in the future, based on different potential economic outcomes To your success, Tyler Lyons Resources mentioned in the episode: 1. Harsh Hemnani Website Interested in investing in ATMs? Check out our webinar. Please note that investing in private placement securities entails a high degree of risk, including illiquidity of the investment and loss of principal. Please refer to the subscription agreement for a discussion of risk factors. Tired of scrambling for capital? Check out our new FREE webinar - How to Ensure You Never Scramble for Capital Again (The 3 Capital-Raising Secrets). Click Here to register. CFC Podcast Facebook Group
Are you looking for a secure and reliable investment opportunity that offers high returns with minimal risk? Join us now as this investment strategy may be the perfect choice for you. Agostino Pintus is the Founder and CEO of Bulletproof Cashflow where he applies nearly two decades of real estate experience to source, negotiate, and acquire commercial properties. He is a sought-after speaker for real estate events, MeetUps and media engagements around the globe. In this episode, Agostino shares how net lease investing makes it an attractive option for those looking to generate steady returns. Plus, with minimal effort needed to manage the investment, it provides a hassle-free way to diversify your portfolio and maximize profits. Let's take a closer look at the many advantages of net lease investing and why you should consider it. Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/ What you will learn from this episode for 19 minutes: Discover an investment strategy that can withstand any economic turmoil more than the multifamily Learn how safe and stable the properties itself, the companies, and the businesses within these companies. Find out how you don't have anything to lose with this portfolio even with the worst-case scenario Resources: Let's talk about making money. Click here: https://bulletproofcashflow.com/ Topics Covered: 01:47 - What are net lease investing and examples of this? 03:06 - Explaining the whole concept of these net lease properties 05:35 - Understanding net lease properties by comparing them with multifamily [with an element of being Amazon-proof] 08:47 - Sticking with companies and businesses with corporate-back guarantees 10:06 - How do net lease properties compete with REITs and big guys in the industries? 12:02 - Discussing the lease strategy called 'blend and extend' 13:26 - Nothing to lose even with the worst-case scenario 15:37 - How does a new lease work after the old one is nearing expiration? 17:31 - Talking about cap rate as it relates to net lease Key Takeaways: “It's not multifamily, it's not development, it's a different type of deal. However, that corporate guarantee allows you to sleep at night knowing that you have regular income coming in and you still own the real estate, you still get all the depreciation, you still get all that fun stuff that really comes with owning real estate itself." - Agostino Pintus "Net Lease properties, they thrived in COVID, they did phenomenally in COVID whereas some multifamily has had problems." - Agostino Pintus "We also think about what's the worst case scenario, let's say for instance, they pull out. We still own the real estate. So for us to take it and repurpose it into something else, it's certainly an option as well." - Agostino Pintus Connect with Agostino Pintus: Website: https://bulletproofcashflow.com/ Connect with Dave Dubeau: Podcast: http://www.propertyprofitspodcast.com/ Website: https://davedubeau.com/home Investor Attraction Workshop: http://www.investorattractionworkshop.com/ Facebook: https://www.facebook.com/thedavedubeau LinkedIn: http://linkedin.com/in/davedubeau
Glen Kunofsky (CEO) and Danny Price (VP - Investments) at NNN Pro Group join the podcast to talk about the real estate side of the 1031 exchange market and their firms expertise in the Triple Net Lease space, including how similar they are to minerals & royalties. A big thanks to our 4 Minerals & Royalties Podcast Sponsors: --Riverbend Energy Group: If you are interested in discussing the sale of your Minerals and/or NonOp interests w/ Riverbend, then please visit www.riverbendenergygroup.com for more information --Farmer National Company: For more information on Farmer's land management services, please visit www.fncenergy.com or email energy@farmersnational.com --Opportune: For more information on Opportune's back office & outsourcing services, then please visit www.opportune.com --Noble Royalties: To explore ways to do deals w/ Noble, please email Chase Morris at cmorris@nobleroyalties.com or Shannon Manner smanner@nobleroyalties.com
Nancy Miller, head of Bull Realty's Single Tenant Net Lease Investment Group, joins Michael Bull to share insight on current cap rates for STNL properties. Discussions include current financing rates, loan-to-value ratios, and tenant trends. Brought to you by: Bull Realty - https://www.bullrealty.com/ Commercial Agent Success Strategies - https://www.commercialagentsuccess.com/
The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
With the help of plans A, B, C, and D, she has been able to be successful in building passive income while she built her professional career. In addition to her real estate journey, she shares her advice, stories, and tips on how to build wealth while taking care of your agents. Ladies, this episode is filled with tips, advice, and encouragement for women who want to get into real estate investing. Today's guest is Irene Lambiris, MD. Irene is an internal medicine physician and full-time real estate investor. Her parents, tailors by trade, started buying properties when she was seven years old, growing up in the multifamily space. In her 20's, she read Kiyosaki and Lechter's Rich Dad, Poor Dad, starting her passion for real investment. As soon as she finished medical training, she paid for her education by creating a real estate portfolio and reaching financial freedom. Her mindset is: “I don't have to work, but I choose to because I love what I do”. Passionate about educating people, she constantly engages in conversations with high-income earners, teaching them how they can reduce taxes by being full-time real estate investors. Quotes· “But how important is it to keep the end in mind; and what are we doing this all for? Not just a paycheck, we're doing it to build our own wealth”. (03:57 - 04:04)· “One of the lessons I've learned was not to be afraid and really to start educating myself as much as possible". (07:09 - 07:19)· “When I started pivoting and realizing I could do bigger and I could do more. I just needed to get the right team”. (07:57 – 08:04)· “I always go with my gut and the numbers, so having a good team that you have a good relationship with someone that you trust [is important]”. (42:42 - 42:50)· “If you have the liquidity and you wanna park your money safely, it's to look at investment”. (47:10 - 47:14)· “Work with banks and get your goals in order. You have to be prepared”. (47:17 - 47:23) Connect with Irene:Website: www.healthandwealthmd.comEmail: healthandwealthmd@gmail.comLinkedIn: https://www.linkedin.com/in/irene-lambiris-394b94190Facebook: https://www.facebook.com/irene.lambiris.1/Instagram: https://www.instagram.com/healthandwealthmd/ Resources Mentioned:White Coat Investor Podcast by Dr. Jim DahleRich Dad Podcast by Robert and Kim KiyosakiThe Passive Income MD Podcast by Peter Kim, MD Wealth Formula by Buck Joffrey Irene's syndicators:· Andrew Davis: andrew@passiveinvesting.com· Whitney Sewell Life Bridge Capital: deana@lifebridgecapital.com · HardMoneyLoans investing:o Rob Fuller ROI property group: Rob@roipropertygroup.com · NNN commercial property investing:o Mike Kocur for NNN investing: Mkocur@westwoodnetlease.com · ATM investing:o Buck Joffreys team: madalyn@wealthformula.com · Deferred sales trust/ installment trust: Todd@bluehatwealth.com Missed InvestHER CON 2022 or just want to relive the experience? Don't worry! Get instant access to the InvestHER CON 2022 recordings and enjoy tons of transformational sessions with incredible women investors!https://www.therealestateinvesther.com/offers/PDh8G6eE/checkout 1) InvestHER CON 2023HOLIDAY EDITION!*Get a ticket to IC2023 and receive access to the 2022 recordings immediately!How to spot a good deal from a bad deal? - Kim Kiyosaki + HANDOUTWhy 10x Is Easier Than 2x - Shannon Waller + HANDOUTAnd much MORE! Here is what you can expect at InvestHER CON 2023:Pre-event network2 Full days of transformational experiencesAccess to over 20 Sessions with Keynotes and SpeakersRecordings from all sessionsAccess to investors, mentors, and influencersMindful networkingOpportunities to connect with our sponsors + vendorsCoffee and Lunch includedFinal Reception: Red PartyLive 30-day Group Accountability Virtual Session with the Founders Liz and AndresaExclusive Breakfast for STRIVE members only."InvestHer CON was truly a transformative experience. I have felt so alone for so long and now I feel like a have a community of support. I don't have to be the master of everything and take it all on my shoulders, I just have to do what I am excellent at." Heather Giammichele We reserved the entire resort for us! Join us in Scottsdale, Arizona, May 18-19. Get your ticket today!https://www.therealestateinvesther.com/investhercon*Promotion ends on Dec 31st at midnight EST2) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses, and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves. Subscribe via:Apple Itunes SpotifyAmazon MusicAndroid Stitcher 3) The Real Estate InvestHER Membership STRIVE A membership for highly ambitious and decisive Real Estate investors looking to build generational wealth on their own terms. Are you ready to...Grow your Real Estate portfolio on your own terms.Make deeper relationships with successful women playing at the same levelBuild a reliable team and leave solopreneurship behindImplement processes and systems that will allow you to scale your businessSTRIVE is for you!APPLY today at https://www.therealestateinvesther.com/membership*We only open the doors twice yearly (Dec and May).4) InvestHER Community on Facebook We have thousands of members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals! 5) InvestHER Meetups Around the Globe We have Investher Meetup members attending in-person meetings across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! 6)InvestHER™ ORG with eXpYou helped your clients build their real estate portfolio, now it's time to invest in yourself! Join our all-woman investment group for agents and build your personal portfolio while creating generational wealth!Get the benefits of being part of a team without extra fees!Click here and schedule a discovery call with Jonna Weber today!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this episode, we welcome Christine Bellish. She and her husband founded The Bellish Team, an experienced group of Real Estate Syndicators, Fund Managers, and Equity Partners in over $84m of real property across asset classes and states. Together, they are currently GPs of 588 units and have been involved in 922 units as LPs. Christine shares her experience transitioning from a corporate advertising career to owning and operating their own real estate investment business. She also tells us how they joined a syndication, how they started as passive investors and eventually became co-GPs, and what interesting niche they are focusing on today. [00:00 - 11:34] From Marketing and Advertising to Real Estate Christine discusses why they decided to make the jump to real estate The lesson they learned from their nightmare BRRRR deals: It's better to hire someone with prior experience Understanding syndication and becoming a GP How they started to invest passively They used their marketing and advertising expertise to bring value to their partners [11:35 - 21:32] Diversifying into Different Asset Classes Christine discusses their multifamily redevelopment project It's important to examine deal structures and make it less complicated for investors Doing dollar stores on a net lease fund The leases are corporate guaranteed It's a hedge against inflation The landlord is not responsible for the business Investors are familiar with dollar stores and it's easier for them to understand the investment During the recession, more people are shopping at dollar stores [21:33 - 24:00] Protecting Yourself Against Runaway Inflation Consider shorter initial lease terms so rent bumps come sooner Negotiate higher cap rates Buy property at less than the average so you could have an area for markup Utilize the Blend and Extend Strategy Diversify accros properties that have different lengths of leases in other markets [24:01 - 25:17] Closing Segment Reach out to Christine! Links Below Tweetable Quotes:“If I only knew, I wouldn't have done it on my own. I would have been willing to give up half of whatever the return was and be to partner with somebody who had more experience doing it than me for sure.” - Christine Bellish “When we're talking about Dollar General as your tenant and they have a corporate guaranteed lease, that's a lot easier for people that are new to syndication to wrap their head around.” - Christine Bellish ---------------------------------------------------------------------------------- Connect with Christine on The Bellish Team website and find them on Instagram. You may also email her at christine@thebellishteam.com. Connect with me: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook LinkedIn Like, subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below: [00:00:00] Christine Bellish Yes, we are diversified in that we own multiple multifamily assets in different markets. But I wanted to diversify and into a different asset class. And part of it is the fact that my husband still works full-time and has a W-2. So he's still in the advertising industry working for Disney and I am not. I'm running our real estate investing business full time. Our goal obviously is for him to be able to join us. So it's a lot easier to do that and replace the steady income that you have with a salary with another stream of steady income. [00:00:44] Sam Wilson Christine Bellish is the co-founder of The Bellish Team, a real estate investment firm that focuses on large commercial and multifamily property acquisitions. Christine, welcome to the show. [00:00:54] Christine Bellish Hey, thanks for having me. [00:00:56] Sam Wilson Absolutely. Christine. Three questions. I asked every guest who comes to the show in 90 seconds or less, can you tell me where did you start? Where are you now? And how did you get there? [00:01:05] Christine Bellish Sure. So I started in the New York City corporate advertising industry. That is where I'm where I met my husband, who is my life partner, my work partner, my business partner, he is also the co-founder of The Bellish Team, we were doing well in our corporate careers that we wanted to get off, you know, that hamster wheel and in leave the corporate rat race, and we were really looking to build more passive income. So we got started by investing in small multifamilies here in New Jersey, which anybody who's familiar with the New Jersey market knows it's not very landlord friendly, knows it's very expensive, et cetera, et cetera, got ourselves into a couple of nightmare BRRRR deals that we learned the lessons from, which basically brought us to where we are today, which is working in the syndication world. We are involved in much larger property acquisitions these days, 291 units we closed in February. We are also building a net lease fund right now. So we've totally shifted gears. I'm sure we'll jump into how we got to where we are at now. But that's the quick 123 on me. [00:02:08] Sam Wilson I love it. That's great. Tell me about these nightmare BRRRR deals and I don't want to spend too much time here because I know you've probably spent already way too much time in your thinking about, but what were the things top high level that you're like, Man, these are the things that made this a nightmare? [00:02:25] Christine Bellish Yeah, so first of all, thinking that it was a smart idea to undertake a total gut renovation as our first project. That was our first mistake. Second mistake would be not following our gut when it came to working with the contractor that we were working with. He actually came recommended from somebody that I trust the most, my dad. Yeah, so he had done a lot of work for my dad, but it was smaller projects here and there, like replacing a vanity, like, you know, kitchen countertop or something like that. And he had all of the skills that we needed. But he really was not a business-oriented individual. He didn't care about the timeline, he didn't care about the schedule. He was kind of MIA in responding to us even before we got started on the project. And I kind of just used that as an excuse. Like, that's just how contractors are, like, it's fine. As long as he as long as he's good. at, you know what I'm hiring him to do. It's fine. But I should have seen the writing on the wall, we should, you know, cut the cord way sooner. And yeah, I just would have hired somebody else way sooner. And I would not have taken on that level of project as my first project, but no experience. [00:03:33] Sam Wilson Yeah. If you did, you'd have to do it with somebody that had had that experience ahead of time. [00:03:39] Christine Bellish Exactly. I wouldn't have done it on my own, I would have partnered with experts, you know, I would have been willing to give up, you know, half of whatever the return was going to be to partner with somebody who had more experience doing it than me for sure. [00:03:40] Sam Wilson 100%. Yeah, and those are two hard lessons that we hear repeated on this show over and over, which is the first one we just covered. And then the second one is on the contractor side of things where it's like, okay, maybe they're good at, like you said, replacing vanities, but maybe they haven't done a project of this scope. Or maybe they're good doing smaller projects, but then bringing on other contractors underneath them. Maybe they've never done that before. So yeah, having that prerequisite experience inside of whatever the project is to say, Okay, this, this is a good fit. [00:04:22] Christine Bellish The needed to be a sub and not a GC. And we made that mistake because he was not very business oriented, meaning that he wanted to do all of the projects himself and he didn't want to hire anybody out. And we thought that we were hiring a crew but instead we basically hired a glorified handyman and he took nine months to do our project. And it's a 1200-square-foot house just to like put things in perspective. Okay, so, yeah, I definitely spent a lot of time and many tears. But we did listen, we still own the prom. Pretty today on the flip side of things like it did end up being a good investment on paper. But yeah, I've had it with that. It's I'm good. [00:05:04] Sam Wilson Right. So you learned some hard lessons from that experience. But it sounds like maybe that was the catalyst. [00:05:11] Christine Bellish It definitely was. [00:05:13] Sam Wilson That, you know, there are greener pastures elsewhere. [00:05:17] Christine Bellish So and it's funny, it's funny that you, you know, that you call attention to that, for sure, we went to a meet up shortly. So like, at the tail end of that project, we went to a meetup that was in Manhattan, and it was right before the pandemic shut everything down in 2020. And it was about buying multifamily properties out of state. And we thought it was going to be buying, you know, like a duplex or a quad or something like that just in a more landlord-friendly state a more affordable area where we could afford to hire a property manager and have somebody else take care of it for us. But it wasn't it was about syndication. And that's actually where we learned about syndication. And so. So when they're talking about how syndication works, where you can be a passive investor, you can put money into a deal, you're an equity partner, you get all the benefits of owning real estate, right? You still get the depreciation, you know, you can benefit from cash flow, you can benefit from appreciation, it obviously depends on the strategy that's being implemented on that deal. But to hear that I could put money in and make a pretty awesome return for not having to do any work after just coming off of this project, where I basically put my life savings on the line and bet on myself who had zero experience. And I could trust somebody who has a decade of experience and a proven track record. And you know, all of the connections and all of the experience to bring that to the finish line. I was just like blown away. And truthfully, like, I was skeptical, because I had never heard about it before. So me being the New York, New Jersey person I am, I was like, I need to do some more research on this. I don't know, I haven't heard of this before. And if this really works the way that they say it does, then why are people not doing this? [00:06:55] Sam Wilson That's fair, absolutely fair. It's so funny, you know, to hear you say that in 2020, you went to a meet up and learned about syndications. And it's just a good reminder, I think, for anybody who is, one, listening to the show, but also in the I guess the content creation space, or you know, ‘cause that's a common theme I hear from people is they're like, gosh, what do we talk about? It's like, I'm just reminded, again, from your comment there that you know, there's still a lot of education that can happen in this space. I'm thinking like, gosh, anybody in real estate knows what syndication is, right? Although they're not necessarily. So getting into it in 2020 was a great time to start investing, as a passive investor in multifamily. [00:07:33] Christine Bellish Yeah, exactly. And that is exactly how we got started. So we went to this meetup. And basically the keynote speakers are people who are our partners today on the GP side of things, but we started by LP and with them so we heard about syndication, we wanted to do research about it. So you know, we got on bigger pockets, we listened to podcasts, we read books, we went to all of their webinars, we went to other people's webinars, we, you know, interviewed previous investors who had LP with them, we spoke with our attorney, I like read all of the legal documents, I was probably the most annoying passive investor that ever existed, honestly. But again, I selfishly was, like, you know, is this works, how they say it works, I feel like this is the path for me. So like, I need to really educate myself about how it works. And, also, I have never trusted anybody else with that amount of money before, right? So if I'm going to fork over 50 grand to somebody, I want to make sure that, that they know what they're doing that they have there, you know, their I's dotted and their T's crossed. And so we spent about nine months doing research and getting to know these guys and understanding syndication in general, what kind of deals are out there, how they're structured, right? Because sometimes the way that people structure deals is really complicated. They're like waterfalls that are included and like hurdles that you need to get over and, you know, split percentages and these views and those views. And so I wanted to get comfortable with understanding how that worked. But we took the plunge basically after, after nine months, and we invested passively with these guys. And during that time, we also really wanted to pick their brains and learn from them. But we understood that these guys are super successful. They're really busy, like, they don't have time to just like, you know, treat us like a charity case. Basically, they teach us everything that they know, right? So we volunteered, working for them basically for a year for free. So we consulted on their business for free for a year. Also, while we were spending time getting to know them, we invested with them passively. Basically, we used our marketing and advertising expertise, and we evaluated their business and we help them come up with a new marketing plan. Our partners are also you know, not from the East Coast and not from New York City. So so the pace in which they do things is a little bit different than us and so We were like, there's a lot of money in New York like, and if you want to get that New York money, you need to be responsive to people like now, right? So we also helped them with our investor relations strategy, and hire an investor relations person for their team. So after we invested basically a year went by we invested with them passively, a couple of times, we consulted on their business for free, built that friendship, built that trust. And then, you know, basically, a year in I was presenting the investor relations, you know, job role and like telling, telling them, you know, what I think about it and who they should hire. And at the end of the conversation, I was just like, less than, like, we want to do what we're doing, like, would you ever consider partnering with us? Can we come in on the GP side of things? What do you think about that? And they were like, Absolutely, let's go, we're about to close on 291 units and Cleveland, come with us. So that's that. That's how it happened. [00:10:44] Sam Wilson That's awesome. I love that. And that's, that's a question somebody asked me last week, there's like, hey, you know, I want to get started in commercial real estate, what do I do? And I was like, well, one, you're gonna have to find a way to bring value to somebody else already in this space. I was like, define what your skill sets are. And you know, there's common roles inside of every general partnership team, no matter the asset class common roles. And I was like, here they are. And you're going to figure out how to differentiate yourself in and fit into one of those roles. So anyway, I won't get into all that. But I love the way you did that, which was, hey, by the way, I got an awesome background in advertising. And I can make your brand is a really killer brand, because it needs a refresh, by the way, but at the same time, it gave you an opportunity to learn from them. So it's that that give and take there. I think that's, that's really fascinating. You guys are doing multifamily value add. But now more specifically, we talked about this off air, you're going into multifamily development and called it redevelopment. Is that right? [00:11:44] Christine Bellish Yeah. Yeah. So we are working on a deal. Soon. You know how that goes. That is basically right outside of Cleveland, in an area called Rocky River, I believe it's called it's a pretty affluent area. Basically, there is an old office building that we're going to convert to multifamily. And there's a below-ground parking garage that has a ton of parking. So it's basically going to be additional income for us, because obviously, the residents will need a place to park but it's way bigger than the residents would need. So our plan right now is that we're going to also rent that out to other people if they want to store you know, their cars. They're basically [00:12:25] Sam Wilson Yeah, yeah. Covered parking like that, that's hard, hard to come by. That's really cool. One thing I wanted to circle back on, because I do want to hear more about the net lease fund. But before we get there, there was, I had a note here that you had commented on the complicated structures that you were finding inside of deals, have you guys moved to a much more simplified structure? And if so, what is that? [00:12:53] Christine Bellish Yes, 100%. So that was part of the reason why we felt comfortable investing with our partners, because it was really easy for us to understand. And when we were looking at the underwriting and the way that it was presented, it's a straight 80-20 split for most of the deals. And so that just means 80% of all of the profits are going to the passive investors 20% is going to the GP depending on the deal. You know, there's asset management, that's, there's an asset management fee that's collected off of the gross rents, which basically helps pay for administrative stuff, right? Like the investor, Portal, and QuickBooks and, you know, keeping the lights on at the office, basically, it's minimal, right, it's 2% off of the gross collected rent. So we don't charge an acquisition fee, we don't charge a disposition fee, like, we're not making money on anything unless the project is making money. And so that's something that I feel really good about. It's something that I felt really good about as an LP investing with somebody that it was that straightforward. And it works the same way when there's a capital event to write. So if there's a refinance, basically, that is counted as repayment of principal, but we repay principal before we split any proceeds at 20. [00:14:08] Sam Wilson That's really interesting that you say that because I feel that's a conversation we're having currently on a deal that we're doing. And it's like, I feel like the confused mind says no, right? And simpler, we can make this because I'm part of both as a limited partner and a general partner part of deals where we've set them up in that complicated structure where it's 7030, and then we hit a 21 IRR, then we go to 5050. And then once there's a return, it's like, Oh, my God. [00:14:34] Christine Bellish Your own accounting is harder to like, I'm also trying to keep it easier for myself because like we are the ones who are calculating the distributions that we're sending to people and I don't want to be doing all this complicated math either. For the development deals, because there's a lot more that goes into it, we usually do a 7030 split. But again, it's a straight split, but for you know, the value add multifamily, or for the turnkey net lease, we're just doing straight at 20. [00:14:56] Sam Wilson Right. No, that's cool. I love that. And we are moving into a much more simplified version, just as you are just because I think that's something, one, our investors understand because the amount of time I spend answering questions on the water, it's like, This is dumb. Why don't you make it to where it makes sense? [00:15:17] Christine Bellish Oh, right. And to your point, if that was just an easy answer, or if it was something that they could even figure out themselves, they probably would have already written the check, like, we wouldn't be having the conversation anymore. [00:15:29] Sam Wilson Right .I don't need a spreadsheet or even a calculator to figure this out. I need a back of a napkin and go, Okay, I understand that. [00:15:36] Christine Bellish Exactly. Yeah. Yeah. [00:15:36] Sam WilsonLet's talk net lease with the remaining time that we have here. You guys are doing. Three, I think you said dollar stores in a net lease fund. Why? Why the, not left turn, why the different asset class? [00:15:55] Christine Bellish Yeah, no, It's hilarious. Because all my friends and family think what are you doing right now? And I think I think the biggest misconception is that we are buying the businesses and running the businesses. So I just want to be clear about that. Like, I'm not going to be running $1 store, okay, I am buying the land and I am buying the building. And I have and the existing tenant is in place. And it happens to be $1 store. So the reason why we pivoted is that we really want to diversify. And when I say we I mean my husband and I like we personally want to diversify our own portfolio. Yes, we are diversified in that we own multiple multifamily assets in different markets. But I wanted to diversify into a different asset class. And part of it is the fact that my husband still works full-time and a W-2. So he's still in the advertising industry working for Disney and I am not I'm running our real estate investing business full time, our goal, obviously is for him to be able to join us. So it's a lot easier to do that and replace the steady income that you have with a salary with another stream of steady income, anybody who's invested in multifamily, especially when we're talking about, you know, big construction projects, and most of the stuff that we're invested in are like CNB class. So there's a heavier lift up front with that, and especially during this time right now, even still feeling the effects of COVID. And, you know, the rental assistance programs that are still in effect. And it's a little bit more challenging to get non-paying tenants out. And you know, supply chain issues and the cost of goods and services, just being astronomically more expensive than they were before, it's a lot harder to, you know, count on reliable steady income from multifamily. And that doesn't mean obviously, once the assets are stabilized, it'll, it'll be a lot more steady at that point. But until we get there, it fluctuates a lot more, right? And we're and we're paying out quarterly returns on those, and we're receiving quarterly returns on those. So with a net lease fund, we're able to offer monthly returns, because the tenants that we're targeting here are billion dollar market cap companies. And the leases that these tenants have are corporate guaranteed leases, their long-term they have built-in rent increases. So it's a hedge against inflation, at least by nature, you know, the landlord isn't really responsible for very much. So you know, if a boiler blows out, like that's not eating into my cash flow, the tenant is paying for that. So, for us, we wanted to get a stream of steady monthly cash flow. And we thought that this is a great way to do it. The other feedback that we actually received from a lot of our investors was that, you know, a lot of them hadn't heard about syndication before. So we're talking to a lot of people that are not in the real estate game, or who are interested in getting involved in real estate investing. But to ask somebody to get involved in you know, a development project or even in like a heavy lifting multifamily is a little bit, especially if they're not in control of the project, right is a little bit challenging for some people to wrap their head around. So I think when we're talking about, you know, Dollar General is your tenant, and they have a corporate guarantee lease, and they pay their rent on time every single month at like on this date, and we basically have no expenses that's a lot easier for people that are new to syndication to wrap their head around and you know, it's a risk-adjusted return obviously and so we're not looking at you know, the big appreciation play that we would be looking at for a development deal. But a lot of people are just, like, looking for another source of income especially, especially these days with the stock market in the tank. And, honestly, like, you know, my husband and I have been approached to participate in other value add multifamily deals even in the past year and the returns that we're seeing, like the projected returns that we're seeing are just nowhere near where they were. So if I can offer a similar return, and I, you know, I use the word guaranteed loosely and nothing was guaranteed that this is an investment, there's obviously risk associated with it. But I think most people would agree that something like this is a lot more guaranteed, quote, unquote, than, you know, other asset classes. So I think, you know, those are the main reasons why we've pivoted to include that in our portfolio right now. [00:20:18] Sam Wilson I love it. And yeah, there's always compelling reasons to invest in a net lease deal like this, you know, and it's not maybe for everybody, but in the right scenarios, I think, it makes a lot of sense. And especially for dollar stores. I hate to say it, but as the economy weakens, or worsens, then there's the demographics that the dollar stores serve. Yeah, they just do better. [00:20:44] Christine Bellish Yeah. I mean, we were reading stats coming out of the 2008. Recession, was one of the major players I forget whether it's Family Dollar, or Dollar General, basically, but they were the best performing stock coming out of the 2008 recession. They were up like 60% when everybody else was crushed, right. And I just read a CNN article a couple of weeks ago, that was basically saying because of inflation, people that are making over $100,000 a year are shopping at dollar stores, like everybody shopping at them. So they're crushing it. So yeah, let's jump on the bandwagon. [00:21:17] Sam Wilson For sure. And maybe it's not even if not a bandwagon, it's still great downside protection with a stabilized cash flow. So it's like, okay, this, this makes a lot of sense. Certainly, you know, for the right place in the portfolio. One question for you. And this is a question I've asked a lot of people who invest in a variety of Net Lease deals, how do you protect yourself against runaway inflation? [00:21:44] Christine Bellish Right, so it's interesting, because when we actually first launched the fund, we had a different strategy in mind than what we're actually doing right now. So initially, when we set out, we thought that we were going to be targeting assets that had at least five years on their initial lease term, which would usually mean that there's not going to be a rent bump until year. But the three deals that we're currently under contract on right now, the lease, the initial lease terms are shorter. So that means that the rent bump is coming sooner, we are also negotiating, getting them at much higher cap rates than the average. So I think it's like any other asset class and that you make money when you're buying it right, if you buy it at the right price. So I think one way that we can hedge against that is making sure that we buy it for less than the average so that when we go to sell it, we can make up, you know, some extra money on the back ends, there are also and this is something that I feel like isn't talked about enough, but there's this thing that's called basically blend and extend. And it's a strategy that a lot of people will use before the actual lease term comes up. And so what you do is you negotiate with Dollar General or whoever, a couple of years early before their lease extension is up. And maybe they had a 10% rent increase that was like written into the lease that but it wasn't gonna happen for like five years, what you can do is you can talk to them, and you can say, Hey, would you take a 5% rent increase, and like, let's extend it out throughout that term. And that's basically a forced value add play at that time, right? So you might be able to get in and out of the asset a lot quicker, because you're basically forcing, you know, in an increase in value by increasing the NOI at that time. So that could be an opportunity to do a cash-out refinance, that could be an opportunity to sell it for significantly more than you bought it in a shorter period of time than you anticipated. So I think that there's a bunch of different ways that you can actually go about it. But one, you know, those are a couple of the things that we're considering. And I think the funding model in general is also just beneficial because you're diversifying across, you know, different properties that have different lengths of leases in different markets. And you know, they're going to perform differently, and they're going to come up for renewal at different times. So that balance of you know, maybe one lease is getting an increase next year. And then maybe the next one is getting an increase, you know, in year two, and then one is getting an increase in year three. So it's a combination of those strategies. [00:24:01] Sam Wilson Absolutely. Love it. Christine, thank you for taking the time to come on the show today and share with us your experiences so far of love learning your story, and how you got involved. The amount of research that you did was absolutely astounding and spending, would you say nine months I think reading and learning and going to meetups and webinars. I think it's absolutely awesome. So congrats to you and the success you guys have had so far, certainly been a very enlightening episode. If our listeners want to get in touch with you and learn more about you what is the best way to do that? [00:24:30] Christine Bellish The best way is to follow us on Instagram. It's @thebellishteam. You can also email me, my email is christine@thebellishteam or visit us at www.thebellishteam.com [00:24:42] Sam Wilson Fantastic, and we'll make sure we put all of that information also right there in the show notes. Thank you again, Christine. Certainly appreciate it. [00:24:49] Christine Bellish Thank you.
In this Topical Tuesday's episode, I spoke with Spenser Allaway who is a Senior Analyst on Green Streetʼs research team and sector head of Net Lease, Gaming, and Self- Storage, which includes formal coverage of 13 companies, as well as shadow coverage of several key gaming operators. Be sure to tune in if you're interested in learning about: Why investors should be VERY excited about investing in self storage moving forward What risks should investors be aware of before investing in self storage What kind of wisdom main street investors can glean from studying publicly traded REITs Why growth in self-storage supply in the coming years is likely not what you'd expect What the most current operational trends and advancements are that are being used by REITs that can be used by private syndicators To your success, Tyler Lyons Interested in investing in ATMs? Check out our webinar. Please note that investing in private placement securities entails a high degree of risk, including illiquidity of the investment and loss of principal. Please refer to the subscription agreement for a discussion of risk factors. Tired of scrambling for capital? Check out our new FREE webinar - How to Ensure You Never Scramble for Capital Again (The 3 Capital-Raising Secrets). Click Here to register. CFC Podcast Facebook Group
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