Icons of DC Area Real Estate

James Barlia is Executive Director of Station DC, a private members club for Frontier Tech innovators, investors, and policy makers advancing American national interest. Previously VP at Revolution's Rise of the Rest Seed Fund (Steve Case) investing in startups outside traditional tech hubs. Earlier worked at Greenspring Associates in fund of funds/impact VC. DC native, Tulane graduate.

Station DC Overview [1:11-3:00]

Background & Journey [3:49-10:07]

Venture Insights [11:02-17:00]

Market Observations

DC Tech Ecosystem [40:08-43:00]

Emerging Trends [63:00-67:00] Beyond AI: data centers, space economy, robotics, autonomy, defense systems. Frontier tech companies need dollars, talent, customers, capital - often found in DC.

Advice for Young Professionals [69:00-95:00]

Economic Development [74:10-87:00] Key levers: housing and education. Need to repurpose buildings, potentially remove height limits, retain university graduates. Universities aligning curriculum with local economy in cyber/national security.

Billboard Message [95:35] "Things don't always happen for the best, but you can always make the best out of things that happen."

Similar Episode:

Ben Miller (https://coeenterprises.com/podcast/ben-miller-forging-technology-into-real-estate-investing-part-1-19/)

BIO

Owen Billman is the President of Blake Real Estate, managing a 2.5 million sq ft portfolio and eight companies. He previously facilitated over $1 billion in CRE transactions and is a speaker at universities and corporations. Awarded CREBA's 2014 Leasing Transaction of the Year and BISNOW's Top 35 under 35. He chairs the American Heart Association's Greater Washington Region, is a board member of the KCNT1 Epilepsy Foundation, and co-founded the Junior Council supporting Children's National Health System.

REVISED SHOW NOTES

[0:00-1:38] Introduction and Guest: John Coe introduces the "Icons of DC Area Real Estate" podcast and its partnership with Iconic Journey in CRE. Owen Billman, President of Blake Real Estate and Chair of the Golden Triangle BID, is welcomed. His career, Blake’s strategies, and DC's future are discussed.

[1:38-5:11] Owen's Role at Blake: Owen describes his role, focusing on portfolio performance and managing leasing, property management, and construction. He mentions growing third-party management while emphasizing the core portfolio.

[5:11-9:42] Background: Owen shares his upbringing in rural Southern Maryland and working at his father's hardware store, learning customer service and work ethic.

[9:42-14:28] University: Owen recounts his time at the University of Maryland, including the impact of 9/11, and deciding to stay in the DC area.

[14:28-22:14] Starting at Co-Star: Owen details his entry-level job at Co-Star, learning about CRE data collection and analysis.

[22:14-27:02] Market and Blake: Owen reflects on market trends during the Global Financial Crisis and joining Blake in 2010.

[27:02-36:53] Blake's Evolution and Lease Structure: Owen describes learning Blake's unique cash flow model and lease structure. He explains the pros and cons vs. market standards.

[36:53-44:06] Leadership and Rollup Strategy: Owen discusses his leadership transition and Blake's recent rollup strategy to consolidate ownership and flexibility.

[44:06-52:24] Market Adaptability: Owen reflects on Blake’s adaptability during the pandemic, distressed assets, and retailer impact. He shares Blake’s occupancy rate and return to the office.

[52:24-61:44] GSA and Golden Triangle BID: Owen discusses Blake’s GSA leasing experience and his role as Chair of the Golden Triangle BID, advocating for downtown revitalization.

[61:44-78:21] DC's Future: Owen addresses "why DC?" in the context of remote work and strategies to attract new industries, create a 24/7 city, and potential projects.

[78:21-93:23] Change Catalysts: Owen highlights past catalysts for DC's development and the need for a catalyst employer, a new pitch beyond government, and expresses optimism.

[93:23-102:56] John Coe and Community: John Coe discusses Iconic Journey in CRE. Owen shares advice for young professionals and talks about Blake's culture and tech adoption.

[102:56-111:22] Heart Association and Initiatives: Owen discusses the American Heart Association and Blake's initiatives, including collaborative space and flexible work.

[111:22-119:01] Advice and Closing: Owen gives advice, emphasizing family, work, and giving back. He reflects on DC and its future. John Coe thanks Owen, and Owen reciprocates.

Moiz Doriwala is a seasoned professional with a diverse background spanning real estate finance, investment, and entrepreneurship …. Growing up in Naperville, Illinois, his interest in real estate was sparked by his father’s career as a general contractor and developer.

He pursued higher education, earning a Bachelor of Arts degree in Economics from the University of Chicago and an MBA in Finance and Management and Strategy from Northwestern University’s Kellogg Graduate School of Management. His early career began in the finance sector with a unique rotational program at Bank One (later JP Morgan Chase), where he gained experience in asset-backed securities trading, commercial loan workouts, leveraged leasing, and even worked in a strategic group under Jamie Dimon. He further honed his investment banking skills in the Financial Sponsor Group of J.P. Morgan Securities in New York, focusing on M&A transactions and various financing activities.

In 2005, Mr. Doriwala transitioned to the real estate industry, joining S&R Land Development, LLC in Reston, VA, where he was involved in the development of residential and commercial land. Leveraging his financial acumen and real estate exposure, he later became Vice President of Perseus Realty Capital, LLC, specializing in joint venture equity, preferred equity, and mezzanine financings.

In 2008, Mr. Doriwala formed his own umbrella company, Stirling Realty Advisors, LLC, a boutique real estate investment bank that provides financial advisory services, primarily focusing on raising debt and equity capital for real estate developers and operators nationwide. While initially focused on capital raising, Stirling has evolved into a vehicle for his various investment activities.

Under the Stirling umbrella, Mr. Doriwala manages and invests in several businesses, including:

Mr. Doriwala also has experience in the senior housing sector, having served as Treasurer for Meridian Senior Living …. Additionally, he was involved in the mobile home park business for a number of years through BHP, building and eventually exiting a portfolio of parks.

Throughout his career, Mr. Doriwala has demonstrated an opportunistic and entrepreneurial approach, building strong relationships and a reputation for his ability to navigate complex transactions and provide creative financial solutions. He values strong partnerships, thorough due diligence, and trusting his instincts in his investment decisions.

As the founder of Real Estate Financial Modeling (REFM), Bruce Kirsch has trained thousands of students and professionals around the world in Excel-based projection analysis.  In addition, REFM’s self-study products, Excel-based templates and its Valuate® property valuation and investment analysis software are used by more than 100,000 professionals.  Mr. Kirsch’s firm has assisted with modeling for the raising of billions of dollars of equity and debt for individual property acquisitions and developments, as well as for major mixed-use projects and private equity funds. Mr. Kirsch has also maintained a blog on real estate financial modeling, Model for Success, authoring more than 500 posts, and he is the co-author of Real Estate Finance and Investments: Risks and Opportunities, along with Dr. Peter Linneman.

Mr. Kirsch began his real estate career at CB Richard Ellis, where he marketed highrise New York City office buildings for re-development in the Midtown Manhattan Investment Properties Institutional Group.  After CBRE, Mr. Kirsch was recruited to lead acquisitions at Metropolis Development Company, and later joined The Clarett Group, a programmatic development partner of Prudential.

While at The Clarett Group, Mr. Kirsch was responsible for making development site recommendations for office, condominium and multi-family properties in the greater Washington, D.C. metropolitan area.  In addition, Mr. Kirsch had significant day-to-day project management responsibilities for the entitlement, financing and marketing of the company’s existing D.C.-area development portfolio.

Mr. Kirsch holds an MBA in Real Estate from The Wharton School of the University of Pennsylvania, where he was awarded the Benjamin Franklin Kahn/Washington Real Estate Investment Trust Award for academic excellence.  Prior to Wharton, Mr. Kirsch performed quantitative equity research on the technology sector at The Capital Group Companies.  Mr. Kirsch served as an Adjunct Faculty member in real estate finance at Georgetown University School of Continuing Studies.  Mr. Kirsch graduated with a BA in Communication from Stanford University.

Financial Modeling Principles

Bruce is offering his courses at a discount to podcast listeners. First, take a free assessment at this link: https://courses.getrefm.com/shop/free-tools/free-assessment-tests/. When you’ve determined your level, go to this website: https://courses.getrefm.com/ and use the discount code “Iconic” at the checkout to get a 15% discount for the course.

Jeffrey Zell founded JM Zell Partners, Ltd in 1989, with a unique vision for providing client-centered real estate consulting. Developed over his 30-year career, Jeff’s innovative approach to delivering practical solutions while fostering meaningful client relationships forms the core of JM Zell’s value-added process.

Jeff believes that only by partnering with clients and truly understanding their business as well as their real estate needs can JM Zell provide long-range, comprehensive, unbiased advice. By evaluating factors including a client’s long-term needs, financial objectives, and corporate culture, JM Zell is able to provide customized, proactive and fiscally responsible solutions for major corporations, institutional investors, professional firms, unions, governmental institutions and not-for-profit organizations.

To fully realize his vision, Jeff attracted a diverse, multi-disciplinary staff of seasoned professionals who share in his philosophy (and in the profits of the company, based on client satisfaction and results). This collective approach ensures that everyone at JM Zell works for the common good, and that our client’s best interests are never compromised.

Jeff has provided strategic planning, investment, lease negotiation, development consulting and project management services for award-winning projects for over 25 years. Jeff’s greatest strengths are his creative strategic thinking, business acumen, transactional ability, marketing savvy and financial expertise. A member of the distinguished Counselors of Real Estate, available only to the most respected real estate specialists who are known for innovation and creative problem solving, Jeff is a licensed real estate broker in the District of Columbia, Maryland and Virginia. 

Jessie C. Barter founded Charger Ventures (“Charger”), a multifamily investment management platform in the fall of 2018, and Spark Living, the portfolio’s brand, in the fall of 2020. Through Q125, Charger has acquired ~3,000 apartments ($730m AUM) in MA, MD, VA, WV, and CT. Prior to Charger, Jessie was a Managing Director – Acquisitions with Mill Creek Residential Trust and Senior Director of Investments at AvalonBay Communities.

Ms. Barter is a director on the National Board for the non-profit Entryways (fka Shelters for Shutters). In 2022, Charger Ventures was drafted into National Multi-Housing Council’s (NMHC) inaugural Summit Advisory Committee’s Program for emerging managers. She is Vice Chair of the Membership Engagement Committee, member of the Finance Committee, and past Vice Chair of NMHC’s Diversity, Inclusion, and Equity Committee. Ms. Barter is a member of ULI’s Multi-Family Council Blue flight and the Young President’s Organization (YPO).

Ms. Barter holds a Masters of Business Administration from Darden Graduate School of Business Administration at the University of Virginia and a Bachelor of Science in Business Administration from Georgetown University. She lives in Bethesda, MD.

More than a dozen years of experience in real estate acquisitions, dispositions, financing, asset management, and leasing. Prior to Open Industrial Blake spent 15 years spearheading a local private equity real estate fund’s strategic direction focused on acquisitions, entitlement, leasing and asset management.

We’re thrilled to announce the upcoming launch of the new website for Iconic Journey in CRE! This marks a major step forward in expanding our mission to support and connect professionals across the commercial real estate industry.

Here’s what this means for you:

And for everyone, the best way to stay engaged is by subscribing to the Icons of DC Area Real Estate podcast on Apple Podcasts, Spotify, or your favorite platform. We’ve been delivering in-depth interviews with industry leaders since 2019, and with this new website, we’re taking things to the next level.

Stay tuned—the new site is launching soon! To learn more about how you can get involved, visit www.ijcre.org.

Thank you for being part of this journey!

This is a two part biography as Bruce Pascal has developed both a thriving commercial real estate brokerage practice and a healthy career as a Hot Wheels collector and curator.

INNOVATOR | REAL ESTATE | ENTREPRENEUR
 
Seasoned and award-winning executive with a proven track record spanning more than three decades,
known for overcoming challenges and driving success in diverse projects. A visionary leader and
influential figure in the real estate industry. Possesses a remarkable history of international diplomacy,
through human rights advocacy in personal interaction with two popes, Middle Eastern leaders, and the
intermediary work in Alan Gross’s Cuba prisoner release. A multifaceted individual, and master of the art
of negotiation.
Beyond professional achievements, owns the most complete historical collection of Hot Wheels globally,
a testament to an unwavering passion for collecting. As a dedicated judge for Mattel’s Legend’s tour and
owner of the world’s only Hot Wheels Museum, brings a unique perspective that aligns with Mattel’s
ethos and strategic direction.
 
SKILLS
 
Real Estate | Community Impact | Strategic Vision | Unique Perspectives
Voice for Collectors | Critical Thinking | Analytical | Strategic Problem Solving | Leadership |
Entrepreneurship | International Diplomacy| Community Impact | Mentoring | Dynamic Marketing |
Global Collector Network | Strategic Planning & Execution | Strong Communication | Negotiation |
Business Transformation

CAREER HIGHLIGHTS
 
Executive Managing Director (2017 to Present) | Cushman Wakefield
A leading global real estate service firm with 50K employees in over 400 offices and 60 countries.
 

Thank you to Ron Gart of Seyfarth Shaw for arranging to host this event and for participating in the Iconic Journey in CRE Board.

The Iconic Journey in CRE is a nonprofit organization that promotes learning and connections for young commercial real estate professionals through the Icons in DC Area Real Estate podcast, the Iconic Journey in CRE community, and Career Coaching Curriculum led by its Board and funded by its Sponsors and membership dues. If you are interested in learning more about the community or sponsorship, please reach out to John Coe at [email protected].

Bob Murphy: “You know, and so which means a couple things. Credibility. First of all, you gotta be good at what you do and you got to be honest. And, you know, you and you got to be, you know, you know, never hide. So for me, I’m always, you know, I put my partner and the deal first. Me and my firm second.”

Lacy Rice: Construction with the construction costs of the last 40 years. When they make these quantum moves up, they don’t come back down. They sort of stay level. And there’s a decent amount of margin in construction costs. So what you’re seeing now, with the handful of starts that we’re starting to see across the country, is contractors are operating effectively a 0% margin so that they can keep their subs employed and keep their people in business because they know in 12 to 24 months it’s going to change, and they want to be on the front end of it.

Vicki Davis: So. I ask everybody who comes to interview with us. So what’s your five year plan? Where would you like to be? Where are you going? What’s your ambition? How are you going to get there? And? And it’s shocking how many people don’t have a plan. Well, I’ve never really thought about that. Like, what the hell, man? So first, figure out what you love, what you’re good at. 

Toby Bozzuto: You know how quilts have squares of different, different, different textures, etc. and they’re all sort of sewn together. Well, think of everything you do. Like this morning is a square. And then go to your office today. That’s another square. And sometimes I say, I have no idea what the hell that event was all about for a fundraiser. It’s boring or something. But you were there, and something may have happened. And eventually you’ll look around, you’ll. You’ll turn around and they’ll all be knit together.

Henry Fonvielle: This is an interesting story. When I went to. I’ve now been at Rappaport for 20 years. The people that when I left, I thought were not my buddies. They’re the people who called me up and gave me business. You know, you don’t know who’s going to be your best mentor or source of business in the future. Love, everybody. It’s easy. Smiles free you know. And I think when you smile, it gives you personal enjoyment too.