The Source of Commercial Real Estate

Listen to this inspiring conversation with Jerry Rosengarten, who has used incredible perseverance to overcome a disability to achieve entrepreneurial success. Gerald Rosengarten is a Brooklyn-born serial entrepreneur whose greatest skill is an extraordinary ability to perceive form and structure–and opportunity–from within disorder, including developing products to deal with dyslexia, reimagining real estate, and investing early and heavily in solar energy. Rosengarten’s life of invention has led to substantial commercial success. His first big hit came in the 1970s with the leisure suit, which became a cultural fashion phenomenon that stoked his confidence and staked his growing desire to build landmark New York projects like the Lofts and the A-list destination, The Bowery Hotel. Today, Rosengarten owns one of the largest private solar farms in the Northeast, located on Long Island's eastern tip, and his creative passions are focused on environmental stewardship and active advocacy for those suffering from learning disabilities.Connect with Jerry:https://www.linkedin.com/in/gerald-rosengarten-0b90831b/Email Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*The audio of this podcast is never generated by AI. However, some of the show notes and images may have been generated using AI tools. 

In this conversation, Jonathan talks with Ethan Elser with PACE Equity. PACE specializes in providing commercial real state financing through a public/ private partnership called C-PACE. With flexible capabilities and attractive terms, Jonathan and Ethan discuss the ins and outs of why PACE Equity might be able to be a part of the capital stack to your next deal. Ethan Elser, Sr. is the Executive Vice President and a principal of PACE Equity, the leading funding of CPACE for commercial real estate development projects in the country. PACE Equity is known for both pioneering several innovations in CPACE, including ground up construction, as well as providing its clients a turnkey solution for all the CPACE requirements.Ethan oversees the company’s 25+ state origination platform and underwriting, sitting on the firm’s investment committee. He is responsible for the underwriting & structuring of all PACE Equity’s projects and collaborates with owners, developers, brokers, lenders and public officials. Prior to joining PACE Equity, Ethan managed a family real estate investment office and was an asset manager for receivership/REO portfolios for banks. Connect with PACE Equity:https://www.pace-equity.com/TakeawaysC-PACE financing is a financing tool that allows property owners to fund energy-efficient and renewable energy improvements through a voluntary assessment on their property tax bill.C-PACE financing can be used for a wide range of projects and improvements, including HVAC upgrades, solar panel installations, and energy-efficient lighting.Pace Equity offers a turnkey solution for C-PACE financing, providing underwriting, structuring, and origination services.C-PACE financing can be a flexible and attractive option for real estate investors, offering long-term, fixed-rate financing with no upfront costs.Chapters00:00Introduction to Pace Equity and C-PACE Financing06:48Ethan's Background and Work at Pace Equity07:15Understanding C-PACE Financing09:50Types of Projects and Improvements Eligible for C-PACE Financing14:09Assets Eligible for C-PACE Financing15:12The Process of C-PACE Financing20:47Project Characteristics Unsuitable for C-PACE Financing23:59Pace Equity's Value Proposition29:28Case Study: Recent Interesting Deal34:38Opportunities for Bridge Lenders35:08Misunderstandings about C-PACE Financing37:34Conclusion and How to Learn MoreEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*The audio of this podcast is never generated by AI. However, some of the show notes and images may have been generated using AI tools. 

Thomas is obsessed with developing data-driven solutions designed to improve the way retailers and real estate make data-driven business decisions.He started Unacast with his co-founder, KJ ,to help businesses gain an in-depth understanding of how people move around the planet.Since its inception, Unacast has raised +$50m from VCs and has been awarded multiple awards for our tech platform to enable companies in retail, real estate, finance, and telcos to optimize their investment strategies and retail operations.Prior to Unacast, Thomas was a part of the early team at the music streaming service TIDAL (crazy ride), which was acquired by Jay Z in 2014. "I love what I do and regularly share my opinion on tech and startups as a member of the Forbes Technology Council or in Inc. Magazine, Business Insider, The New York Times, and Wall Street Journal."Connect with Thomas:www.unacast.comhttps://www.linkedin.com/in/thomaswalle/TakeawaysUnicast provides data-driven solutions to help retailers and real estate investors make better decisions.The company collects data from various sources, including GPS data from cell phones, to understand people's movement patterns.Unicast offers a dashboard and data feeds to provide insights on foot traffic, demographics, and neighborhood performance.Transparency and accuracy are key values for Unicast, setting it apart from competitors.Generative AI is used to bridge the gap between data and narratives, making it easier for users to interpret and make decisions based on the data.Chapters00:00Introduction to Thomas Walley and Unicast02:32The Purpose of Unicast and its Data Sources04:08The Inspiration Behind Unicast06:16The Problem Unicast Solves for Investors and Retailers08:39How Unicast Provides Data to Real Estate Investors10:39The Unicast Dashboard and Data Features12:37Differentiating Unicast from Competitors15:24Data Sources and Accuracy of Unicast17:31Analyzing Trends and Granularity of Unicast Data21:37Ensuring Data Quality and Efficacy24:42The Power of Generative AI in Unicast28:24The Advantage of Unicast's Norwegian-American Background34:48Raising Capital and Building Trust39:18The Future of UnicastEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*The audio of this podcast is never generated by AI. However, some of the show notes and images may have been generated using AI tools. 

In this podcast, Jonathan and Mike discuss topics like organizing unique CRE meetups, closing a medical office deal in Michigan, the benefits of doing small deals, and their top two recommendations. They also touch on the importance of reading books and podcasts for success, achieving wealth through multiple streams of passive income in real estate, and budgeting tools for financial management.

Explore the industrial real estate market in Columbus, Ohio with insights on investments by Intel and Honda. Learn about leasing and selling strategies, opportunities for smaller investors, and advice for tenants. Discover the favorable business environment, challenges for sellers, and the potential profitability in the industrial real estate market.

Join the conversation with CRE legend Bob Knakal as he shares insights on building relationships, the power of market presence, cold calling success, and advice for young CRE professionals. Learn about his journey from small transactions to handling colossal portfolios, emphasizing trust and quality service in commercial real estate.

Enjoy this conversation with Mike Holdwick, a self-described "normal guy". Mike maintains a W-2 job and a diverse CRE portfolio including two office buildings, a MOB, light industrial, mixed use, and an short term rental totaling over 25 tenants. In this conversation, we discuss Mike's tips for managing his portfolio while maintaining a W-2, Mike's strategy for growth, and his best tips for finding deals. Make sure you listen to the end to hear about Mike's CRAZY best AND worst deal. Connect with Mike:https://linktr.ee/mike.holdwickhttps://www.linkedin.com/in/michael-holdwick-4278999/https://proteamcommercial.com/TakeawaysTransitioning from residential to non-residential real estate can offer scalability and time efficiency.Managing multi-tenant office buildings requires effective systems and virtual assistants.Industrial and medical office properties can provide high yields and long-term stability.Building relationships with tenants and understanding their needs is crucial for success.Utilizing technology tools, networking with commercial brokers, and taking action are key to finding deals in commercial real estate. The COVID-19 pandemic has significantly impacted the commercial real estate industry, with changes in demand and occupancy rates.Adapting to the new normal requires flexibility and creativity, with a focus on health and safety measures.Technology and innovation are playing a crucial role in transforming the commercial real estate sector, with advancements in virtual tours, remote work solutions, and data analytics.Collaboration and communication between industry professionals are essential for navigating the challenges and opportunities in commercial real estate.Chapters00:00Introduction01:12Background and Start in Real Estate03:03Transition to Non-Residential Real Estate07:22First Non-Residential Deal: Medical Office Building12:08Lessons from the Medical Office Building Deal15:19Portfolio Overview19:00Managing Properties with a W-2 Job21:40Managing Multi-Tenant Office Buildings24:23Office Market and Tenant Stability25:54Vision and Future Deals30:05Finding Deals35:38Best and Worst Deal43:14Top Tip for Finding Deals46:53Recommended Resources47:59ConclusionEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*The audio of this podcast is never generated by AI. However, some of the show notes and images may have been generated using AI tools. 

Enjoy this discussion about capitalizing institutional-grade commercial real estate. In this episode, we discuss Way Capital's sources of capital, capital provider sentiment, Malcolm's bankruptcy in the GFC and lessons learned, and how operators can be a better capital raiser. Connect with Malcolm and Way Capital (also, listen to the full episode if to hear his email address): https://www.waycapital.com/Malcolm has over 25 years of experience as an award-winning capital advisor and developer, having been involved with over $15 billion worth of total capitalizations, both in the equity and debt markets. He has utilized his expertise to lead developers and investors to structure and capitalize billions of dollars-worth of commercial real estate ventures. He has extensive experience in structuring transactions across the capital stack, including non-recourse senior and stretch-senior debt, mezzanine and preferred equity financings, and Co-GP and LP equity financing solutions for development, value add and stabilized projects.Malcolm co-founded WAY Capital in 2022. The firm is responsible for over $1.8 billion in financings across the U.S., equaling more than $3.0 billion in capitalizations in under two years of operation.Malcolm is a graduate of the University of Arizona’s Regional Development program. He is happily married with three children.TakeawaysBuilding trust and connections with investors is crucial in raising capital.Effective communication and transparency with investors are key to maintaining relationships.Humility and a willingness to learn from experienced professionals are important qualities for success in the industry.Understanding market conditions and risks, and having a strategy to mitigate them, is essential in the current market.Chapters00:00Introduction and Background01:31Malcolm's Background and Work in Real Estate07:38Overview of Way Capital and Deal Types10:48Impressive Deals and Unique Approach15:57Sources of Capital and Sentiment in the Market26:03Advice for Raising Capital32:29Lessons from the GFC and Current Market Conditions36:45How to Connect with Malcolm and Way CapitalEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*The audio of this podcast is never generated by AI. However, some of the show notes and images may have been generated using AI tools. 

Enjoy this conversation with Jason Adams, of Signal Ventures. Jason is a developer, investor, and data analyst who admonishes Excel in favor of much more informative dashboards that drive his decision making. In this episode, we discuss AI, his start flipping homes, building new spec homes, coming out of the GFC, and now buying and developing larger commercial real estate using data for big wins. Connect with Jason:https://www.linkedin.com/in/jason-adams-signalv/https://signalv.com/TakeawaysData analysis is crucial in making informed decisions in real estate.Automating data processes can save time, reduce errors, and improve decision-making.Visualizing data on dashboards can provide valuable insights and facilitate analysis.Incorporating qualitative information is essential in real estate analysis.Automation should be a priority in business to improve efficiency and competitiveness.Chapters00:00Introduction00:32Jason's Background in Real Estate05:06Motivation to Get into Real Estate06:46Dealing with the Great Financial Crisis12:33Lessons Learned from the Great Financial Crisis13:00The Role of Data in Jason's Work16:15Challenges of Data Analysis19:45Automating Data Analysis25:43Visualizing Data on Dashboards29:09Transitioning to Professional Underwriting32:28Incorporating Qualitative Information35:49Consulting Work and Sharing Knowledge37:54The Importance of Automation41:0710x-ing a Part of the Business42:01Best Deal Jason Has Done43:04Worst Deal Jason Has Done45:54Recommended Resource: How to Win Friends and Influence People47:55Connecting with JasonEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*The audio of this podcast is never generated by AI. However, some of the show notes and images may have been generated using AI tools. 

Enjoy this discuss where Jonathan talk with Spencer Strong, of Jupiter Equity Partners, about investing in cash-flowing Junior and Big Box Retail. In this episode, we discuss sourcing deals, raising capital, capital expense nightmares, and the opportunity that retail investing provides. Spencer Strong brings a wealth of experience in real estate, directly involved in over $150M of acquisitions and dispositions across 10 states and retains ownership in over 750,000 square feet of commercial properties. With a B.S. in Finance and a real estate emphasis from BYU's Marriott School of Business, He is a partner on multiple shopping centers as well as a large industrial park that will be a future redevelopment.Spencer on Linked In:https://www.linkedin.com/in/spencer-strong/TakeawaysTransitioning from brokerage to investing allows for more control and decision-making power.Commercial brokers may not invest in real estate due to competition with clients and a focus on transactional deals rather than long-term management.Jupiter Equity Partners focuses on stable big box retail properties with credit tenants and long-term leases.Underwriting deals conservatively and accounting for significant capex items is crucial for successful investments.Building strong investor relationships through transparency and communication is key to raising capital.Cold calling property owners and targeting off-market deals can lead to finding opportunities.The book 'The Go Giver' by Bob Burg and John David Mann emphasizes the importance of giving back and focusing on providing value to others.Chapters00:00Introduction01:00Spencer's Background in Real Estate03:33Transitioning from Brokerage to Investing05:34Why Commercial Brokers Don't Invest in Real Estate08:28Jupiter Equity Partners' Investment Strategy11:13Focus on Big Box Retail13:49Business Plan for Big Box Retail Assets16:06Underwriting and CapEx Strategy20:53Dealing with Unexpected CapEx Expenses22:20Managing Investor Relations23:30Case Study: Milwaukee Retail Property26:07Out Parcel Development and Exit Strategy27:25Debt Situation and Interest Rates28:13Jupiter Equity Partners' Team Composition30:40Keys to Scaling the Business34:10Rapid Fire Lightning Round38:00Connecting with Spencer and Jupiter Equity Partners38:46Final ThoughtsEmail Jonathan with comments or suggestions:podcast@thesourcecre.comOr visit the webpage:www.thesourcecre.com*The audio of this podcast is never generated by AI. However, some of the show notes and images may have been generated using AI tools.