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Creating Desirable Places Through Property Assemblage with Chris Powers, Jr. – Ep. 34
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Creating Desirable Places through Property Assemblage with Chris Powers, Jr. – Ep. 034
About the Guest
I am extremely honored to share this next conversation with all of you. Chris Powers, Jr. is the Founder and CEO of Fort Capital, a real estate company focused on investment, acquisition, asset management, and property management in Fort Worth, Texas. Chris currently oversees the vision for the company, Fort’s largest real estate deals, capital relationships, executive level recruiting, strategic partnerships, and chairs the investment committee among many other responsibilities as Fort’s CEO. Creating meaningful relationships and building a team around a vision and Fort’s goals are the most important qualities that make Chris perfect for the job.
Chris is a serial entrepreneur with over 14 years of real estate development and investment experience and has raised more than $110 million in equity financing through a multitude of high net worth and family office partners. To date, Fort has invested and developed over $504 million in multifamily, student housing, commercial/industrial, and residential & land development projects throughout Fort Worth and the state of Texas. Chris has been touted as a visionary with a demonstrated talent in looking ahead at what could be and understanding what must be done today to get there. His ability to conceptualize, raise capital, and execute are only a minor part of what Chris brings to the table.
In this episode, we are going to discuss how to get everyone on the same page when assembling properties, how to structure contracts that are win/win for buyer/seller, and how to get a city on board with zoning, early, to make the area attractive for developers. There is tons of great information in this episode and I greatly appreciated Chris for taking the time out of his busy schedule to discuss this topic of property assemblage.
Main Take-Away’s From This Show
This was a particularly enjoyable show for me to host! I really enjoyed the candid discussion that was had with Chris as we discussed the difficulties encountered while assembling properties to create one of the most exciting districts in Fort Worth in recent history. I also enjoyed the periods of reflection that Chris shared as he discussed lessons learned from this larger assemblage project. There were several great anecdotes that he shared throughout the discussion, so it is hard to just pick three for my main take-away’s this week. The following main topics of the show come from a deep understanding in the process of property assemblage and the inherent value there is in understanding marketing in your future real estate development endeavors.
Buying un-entitled land for property assemblage can be a fairly secure investment with the possibility of providing large returns if done well.
Timing is extremely crucial when executing a property assemblage.
Barbells are not just for lifting. Utilizing the “Barbell Theory” to find your next project.
As always, I will dig into each of these “take-away’s” every week on the blog. So, without further a due, here we go!
Buying un-entitled land for property assemblage can be a fairly secure investment with the possibility of providing large returns if done well.
Most people would say that what Chris and his team did when assembling the various properties was risky. There’s no guarantee that they will obtain all of the necessary entitlements to make the development work, right? Why would any body take such a risk in assembling properties of various zoning classifications in the hopes that they could somehow entitle these random, infill parcels into some cohesive district?
They could do this because the risk was calculated.
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By Matthew Loos, P.E.
4.7
1414 ratings
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Creating Desirable Places through Property Assemblage with Chris Powers, Jr. – Ep. 034
About the Guest
I am extremely honored to share this next conversation with all of you. Chris Powers, Jr. is the Founder and CEO of Fort Capital, a real estate company focused on investment, acquisition, asset management, and property management in Fort Worth, Texas. Chris currently oversees the vision for the company, Fort’s largest real estate deals, capital relationships, executive level recruiting, strategic partnerships, and chairs the investment committee among many other responsibilities as Fort’s CEO. Creating meaningful relationships and building a team around a vision and Fort’s goals are the most important qualities that make Chris perfect for the job.
Chris is a serial entrepreneur with over 14 years of real estate development and investment experience and has raised more than $110 million in equity financing through a multitude of high net worth and family office partners. To date, Fort has invested and developed over $504 million in multifamily, student housing, commercial/industrial, and residential & land development projects throughout Fort Worth and the state of Texas. Chris has been touted as a visionary with a demonstrated talent in looking ahead at what could be and understanding what must be done today to get there. His ability to conceptualize, raise capital, and execute are only a minor part of what Chris brings to the table.
In this episode, we are going to discuss how to get everyone on the same page when assembling properties, how to structure contracts that are win/win for buyer/seller, and how to get a city on board with zoning, early, to make the area attractive for developers. There is tons of great information in this episode and I greatly appreciated Chris for taking the time out of his busy schedule to discuss this topic of property assemblage.
Main Take-Away’s From This Show
This was a particularly enjoyable show for me to host! I really enjoyed the candid discussion that was had with Chris as we discussed the difficulties encountered while assembling properties to create one of the most exciting districts in Fort Worth in recent history. I also enjoyed the periods of reflection that Chris shared as he discussed lessons learned from this larger assemblage project. There were several great anecdotes that he shared throughout the discussion, so it is hard to just pick three for my main take-away’s this week. The following main topics of the show come from a deep understanding in the process of property assemblage and the inherent value there is in understanding marketing in your future real estate development endeavors.
Buying un-entitled land for property assemblage can be a fairly secure investment with the possibility of providing large returns if done well.
Timing is extremely crucial when executing a property assemblage.
Barbells are not just for lifting. Utilizing the “Barbell Theory” to find your next project.
As always, I will dig into each of these “take-away’s” every week on the blog. So, without further a due, here we go!
Buying un-entitled land for property assemblage can be a fairly secure investment with the possibility of providing large returns if done well.
Most people would say that what Chris and his team did when assembling the various properties was risky. There’s no guarantee that they will obtain all of the necessary entitlements to make the development work, right? Why would any body take such a risk in assembling properties of various zoning classifications in the hopes that they could somehow entitle these random, infill parcels into some cohesive district?
They could do this because the risk was calculated.