On this episode of the TBG Real Estate Podcast, we chat with a key influencer in the affordable housing space, Michael Novogradac of the Novogradac Group. As part of our “Impact Real Estate” Series, we talk to him about the opportunity that led him to start his own company and the strategies he’s used to grow it into a namesake in the affordable housing space. We also chat about the future of affordable housing heading into a new federal administration. Michael is a treasure throve of information so this is an episode you definitely do not want to miss!

EPISODE NOTES:

01:34 - On the heels of the quake

03:21 - Doing well by doing good: From public accounting to affordable housing

04:43 - Differences in market rate and affordable

08:03 - Chris' hero!: Building out a brand

09:50 - Biggest changes to the tax credit

13:30 - Institutionalizing affordable housing

17:05 - Opportunity zones

20:24 - Administrations and funding levels

22:13 - New market tax credit

25:00 - Bipartisanship will be critical

26:20 - The age of competition

27:40 - The role of a Managing Partner

29:00 - Managing a firm in the time of Covid

32:00 - The Hot Seat presented by KK Reset

Michael Novogradac is the managing partner of Novogradac, which recently celebrated its 30th year in business, having opened in 1989. He specializes in affordable housing, community development, historic preservation and renewable energy. Michael's focus is in real estate taxation and accounting. He is the author of numerous real estate-related tax and accounting articles and books, including the Novogradac Opportunity Zones Handbook, the New Markets Tax Credit Handbook and the Low-Income Housing Tax Credit Handbook.

A frequent speaker at tax incentive conferences and forums throughout the country, Michael is active in advocating for the inclusion of affordable housing, historic preservation, community development and renewable energy incentives in federal and state tax policy and broadcasts a weekly podcast, Tax Credit Tuesday.

On this episode of the TBG Real Estate podcast, we welcome Randy Norton, Founder & Chairman at MultiGreen. Randy shares insights from his more-than-20 years of real estate experience and also his vision for building attainable, sustainable and tech-enabled green living that connects neighbors and impacts investors.

EPISODE NOTES:

01:20 - The Vegas vibe

02:50 - Multigreen Propertjes

04:10 - Attainable, sustainable, tech-enabled

05:57 - Searching for best practices

08:45 - A spark at 4-years-old

12:55 - Deal structure

16:30 - Demographics, demographics, demographics

20:08 - Technologists first, financial professionals second

24:47 - Maintaining company culture

29:36 - Checking in on New Mexico

31:30 - The Hot Seat presented by KK Reset

Randy Norton is the Founder and Chairman of Board at MultiGreen. Randy has more than 20 years of real estate experience, namely Real Estate Development and Construction, Building Information Modeling (BIM), Leadership in Energy and Environmental Design (LEED), Smartgrid Cogeneration and Renewable Energy with Intelligent Building IoT. 

Randy is also a Managing Partner, the Global Head of Real Estate and Alternative Investments at Green Mesa Capital, a single family office based in Henderson, Nevada. Additionally, he currently serves as a Trustee for the City of Henderson Nevada Public Improvement Trust, and is an Advisory Council Member at the UNLV Lee Business School-Lied Institute for Real Estate.

Randy is a member of the CAIA Association, CCIM Institute, CFA Institute, Construction Financial Management Association, Institute of Real Estate Management, Sustainable Accounting Standards Board, ULI Greenprint Center for Building Performance, U.S. Green Building Council, and is a Founding Executive Member of the Institute for Real Estate Operating Companies.

Randy is a frequent speaker, moderator, and panelist, at industry events, including CalALTs, CAIA, CFA, CFMA, Connex, Context, Crittenden, iGlobal, IMN, IPI Campden, Linkbridge, Markets Group, Marcus Evans, Opal, Super Returns, select Universities, and is an annual ULI PwC Emerging Trends in Real Estate Interviewee.

After graduating with University Honors in Korean and Business from Brigham Young University’s Marriott School of Management, Randy completed executive programs at the Harvard University Graduate School of Design, and Columbia Business School-Heilbrunn Center for Graham & Dodd Investing.

Randy was previously published in the Real Estate Finance Journal, Forbes, GreenSights, GuruFocus, Yahoo! Finance, and is Author of the pending book: “Applied Value Investing in Real Estate.”

We're back with our Impact Real Estate series on this episode of the TBG Real Estate Podcast. Today, we speak with RJ Pasquesi, the President of KCG Companies. We talk about growing up in a big family and how he fell into the affordable housing industry. We also chat about the ins and outs of building your own company and the important things you need to watch that company grow. It's another can't-miss episode of your favorite real estate podcast.

EPISODE NOTES:

02:00 - Welcome to Indy

03:40 - Good markets in Indianapolis

04:33 - What is KCG Companies?

05:28 - Defining "active senior"

08:07 - The ramp up

09:43 - Choosing some areas over others

11:51 - Getting into affordable housing

17:00 - Controlling my own destiny

18:17 - Getting that first deal

21:20 - Growth trajectory

23:15 - The duties of a president

24:10 - The importance of culture

26:45 - The capital stack

28:10 - Building relationships

29:33 - The next five years; Benefits of getting into affordable housing

32:22 - The Hot Seat presented by KK Reset

R.J. Pasquesi is the Founder and President of KCG Development. He is responsible for providing both the strategic direction and for leading the day-to-day operational activities of the firm. R.J.’s work at KCG also encompasses taking the lead on equity and lender relationships, project specific financing issues, and growing the portfolio through the acquisition and development of apartment communities.

Prior to forming KCG, R.J. was a senior executive at Herman & Kittle Properties where he led the development and finance areas and helped double the size of the firm over his tenure. During his time there, R.J. was involved in the development, acquisition and / or financing of over 7,500 apartment homes totaling more than $600 million in investments and over 630,000 square feet of self-storage totaling more than $45 million in investments.

On this episode of the TBG Real Estate Podcast, we speak with Brady Nolan, Co-Founder and Chief Growth Officer at Till. We chat about how his company is revolutionizing the way people pay rent along with his amazing journey in real estate — from acquisitions to entrepreneurship to founding and growing a property technology giant. It’s a conversation you don’t want to miss. 

EPISODE NOTES:

02:00 - What is Till?

03:40 - Partnerships 

06:20 - The beauty of the platform 

08:45 - Making a dent 

10:50 - An awesome budgeting tool 

12:30 - Breaking down affordable housing 

14:35 - An interest in real estate 

19:50 - The prop tech space — creating community 

24:40 - From “great idea” to a company 

27:30 - 15 states and growing 

29:20 - What does a CGO do? 

31:10 - Reaction and pushback about prop tech 

33:25 - The growth plan 

35:20 - The Hot Seat presented by KK Reset 

At Till, Brady leads growth, partner success and marketing where they are personalizing renter outcomes to optimize how they pay, stay and thrive in the homes while maximizing landlord returns.

Till works with landlords and managers of rental housing to provide a platform of innovative products that work with renters and landlords at every point of their relationship together so as to ensure the longest and most valuable outcomes for both groups. Their platform is able to predict optimal renter structures to ensure long term success and proactively provide solutions to their financial challenges as they arise.

Till has formed partnerships with numerous leading real estate owners and property management companies, including First Communities, TM Associates, Redwood Capital Group, ACRE, and Landmark Property Services.

On this episode of the TBG Real Estate podcast, we welcome Jim Simmons, CEO and Founding Partner at Asland Capital Partners. We discuss his journey from engineering to trader to founder of his own company. We also walk through the real estate climate in New York, talk diversity in real estate and tackle the issue of affordability in America. Jim is a true legend in New York real estate space so this is an episode you do not want to miss. 

EPISODE NOTES:

01:26 - What is Asland Capital Partners?

03:25 - Sharing a brownstone 

05:50 - Upper Manhattan 

09:10 - The NY equation 

12:10 - Couple of Jersey kids falling into real estate 

17:15 - Changing the neighborhood 

19:57 - From derivatives trader to real estate investor 

21:30 - 80 to 90% relationship-driven 

25:17 - Dealing with the lack of diversity 

29:52 - The affordability issue in America 

36:54 - What’s next for Asland?

39:35 - Creating something from scratch 

41:24 - The Hot Seat presented by KK Reset 

Jim is CEO & Founding Partner of Asland Capital Partners, serving as head of the investment committee with responsibility for the strategic direction and investment strategy of the firm. Over his 20 years of industry experience, Jim has focused on managing, originating, and structuring various types of real estate transactions including portfolio acquisitions, single asset acquisitions, and joint ventures through his deep relationships across the public and private sectors.

Prior to joining Ares Management in 2013 as a Partner, Jim was a Partner at AREA Property Partners and Apollo Real Estate Advisors. Prior to his employment at Apollo, he led the Upper Manhattan Empowerment Zone as President and CEO and had tenures at Salomon Smith Barney, Bankers Trust and General Electric.

On this episode of the TBG Real Estate Podcast, we chat with Clark McLaughlin, Senior Vice President of Real Estate at Roscoe Property Management. We talk about how he went from driving trucks to climbing his way up the ladder and leading expansion efforts for Roscoe across the United States. We also talk about why, despite his job title, he still loves to get his hands dirty. You don't want to miss this conversation. 

EPISODE NOTES

01:10 - What is Roscoe Property Management?

02:49 - Acquisitions and new developments 

04:45 - Sophisticated field

07:37 - Technology changing the property management world 

10:08 - A little more than just Craigslist 

11:17 - Clark's journey  

15:47 - Making the jump 

18:10 - Growing the portfolio 

21:10 - Roscoe's level 

22:26 - Intelligent growth 

24:35 - The man is nonstop 

25:42 - The Hot Seat presented by KK Reset 

As Senior Vice President of Real Estate, Clark is responsible for RPM’s overall expansion efforts across the United States. Joining RPM in 2020, Clark is responsible for establishing and implementing a strategic plan nationally for the pursuit of new business, while also building and leading cross functional teams to execute strategic client initiatives. 

Working with current and potential clients, Clark works to identify new acquisition and development opportunities to grow RPM’s third-party management platform. P

Previous to joining RPM, Clark worked for Alliance Residential Company as the Vice President of Real Estate. Throughout his 7 years with Alliance, Clark led the national new business efforts for the firm, supporting the growth of more than 100,000 units with 150+ private and institutional partners. Clark graduated from The University of Texas at Austin, earned his MBA from Texas A&M – Commerce, and holds both the Certified Commercial Investment Member (CCIM) and Certified Property Manager (CPM) designations.

On this episode of the TBG Real Estate Podcast, we continue our Impact Real Estate Series with the first ever Chief Operating Officer at MidPen Housing, Janine Lind. We talk about her responsibilities as the COO, the key differences between for-profit and nonprofit housing development, and what makes her company a true leader in the affordable housing industry. It truly is a special episode of the podcast you do not want to miss. 

EPISODE NOTES:

02:14 - An evolving process

03:40 - Resident services

04:42 - What is Mid Pen?

07:44 - Mission driven 

10:02 - The first COO

12:53 - Trip down memory lane 

15:28 - People skills are critical 

17:21 - Different assets, different skillsets 

19:08 - "The challenge today is keeping our people safe"

22:28 - A leader in services 

24:08 - Permanent supportive housing 

26:03 - More affordable housing in the Bay Area 

30:14 - The Hot Seat presented by KK Reset 

As an enterprise leader with a keen instinct for recognizing talent, a strong belief in the power of both advocacy and inquiry, and a proven track record for building high performance teams that take organizations to the next level, Janine joined MidPen in early 2018 as the company’s first Chief Operating Officer. In this role, she’s responsible for all of MidPen’s day-to-day operations, overseeing the integration of corporate activities and resources to drive mission impact and ensure financial sustainability. MidPen’s Property Management and Services companies report to her as do the Human Resources, Information Technology, and Communications departments.

In Janine’s over 25 years of real estate experience, she’s led companies with portfolios ranging from 15,000 to 40,000 units across 22 states. Prior to MidPen, she held executive posts at Progress Residential, Edgewood Management and WinnCompanies. In her free time you’re likely to find Janine exploring the Bay Area’s trails with her husband and Great Dane, Hazel, out on a run, or enjoying a good book.

On this episode of the TBG Real Estate Podcast, we welcome Jonathan Needell, President & Chief Investment Officer at Kairos Investment Management Company. It’s an extremely knowledgeable conversation about the state of real estate investing, how his team’s strategy aims to make a social impact and the effects of Covid-19 in today’s market. Join us for an information-rich episode of the TBG Real Estate Podcast. 

EPISODE NOTES

02:00 - Three strategies 

04:00 - Company growth 

08:16 - Assets with restrictions 

09:40 - Rent controlled vs Rent Stabilized 

12:00 - Cause and effect 

16:04 - Covid’s effect on company growth in secondary markets

19:46 - Jon’s road to being Chief Investment Officer 

21:36 - “You have to be open to learning”

25:20 - Responsibilities of being a president 

27:28 - Efficient without being bureaucratic

29:18 - Looking into the future 

31:45 - Building trust 

33:32 - The Hot Seat presented by KK Reset 

Jon Needell joined Redwood-Kairos in 2006 and has served as its Chief Financial Officer and Chief Operating Officer. He’s currently President and Chief Investment Officer, responsible for overseeing acquisition and development underwriting and analyses, dispositions, and asset management. Jonathan also oversees all strategic and business planning, sourcing and structuring of construction, mini-perm, permanent debt, and joint venture equity financing, financial reporting, and lender and equity partner relations.

Jonathan holds a Bachelor of Arts Degree with a double major in Economics and History from St. Lawrence University in Canton, New York. He is a member of the International Council of Shopping Centers and a member of the Urban Land Institute. Jonathan serves on the Investment Committee of the Board of Directors of Children’s Hospital of Orange County (CHOC), the Board of Directors of Sterling Realty Organization, and the Board of Trustees of Stratton Mountain School. He is also a four-time Ironman.

On this episode of the TBG Real Estate podcast, we continue our "Impact Real Estate" series with Sam Moss, the executive director at Mission Housing Development Corporation -- a nonprofit building affordable housing in San Francisco. Sam takes us from the baseball diamond to clerking at a law office to the executive chair at MHDC. He also shares the challenges (and triumphs) of building affordable housing in one of the nation's most difficult markets.

Episode Notes:

01:32 - What is Mission Housing Development Corporation?

03:00 - A tall order

04:30 - A community-based mission

06:40 - Making it work

10:45 - As-of-right

12:57 - A lesson in redlining

16:44 - The Balboa Reservoir

23:01 - What does an executive director do?

27:00 - 360 degree approach to management

30:31 - Sam's background

39:00 - An affordable housing PSA

44:25 - Covid and the next couple of years

51:12 - The Hot Seat presented by KK Reset

Before joining Mission Housing, Sam managed real estate assets for union pension funds and various union locals throughout Northern California. He started with Mission Housing in 2011 as an Asset Manager, then Director of Asset Management and became Executive Director in 2013.

As the executive director, Sam oversees the administration of all Mission Housing assets, programs and services. He's currently overseeing the construction of more than 1,000 affordable housing units in San Francisco.

On this episode of the TBG Real Estate Podcast, we welcome Michael Cook, a pioneer of the Single Family Residence space. Michael is a former Chief Assets Officer at Sylvan Road and a Director of U.S. Asset Management at GTIS before starting his own company, MCB Capital in 2020. Michael has such great expertise in the SFR space and talks us through it all, plus he gives his insights as the big differences between New York and San Francisco and why he decided to start his own SFR fund in the middle of Covid-19. It's a very insightful episode with one of the legends of real estate.

EPISODE NOTES:

02:25 - Starting a new SFR fund

04:30 - The SFR landscape

08:25 - SFR consolidation

12:32 - The SFR sweet spot

14:53 - My love of real estate ...

18:40 - The purpose of business school

23:13 - Difference between NY and SF

25:21 - A love of problem-solving

27:42 - Appreciating the complexity

31:15 - People are hungry for yield

32:12 - The Hot Seat presented by KK Reset

During his time at Sylvan Road, Michael managed over 2,000 single family homes and acquired over 120 homes per month in seven different markets. While at GTIS,he built a single-family platform to purchase, manage and sell over 4,000 single family homes.

Prior to joining GTIS Partners, Michael worked for Wells Fargo’s Real Estate Special Situations Group, where he handled numerous distressed-debt restructures and foreclosures across all property types, all geographies and all levels of the capital stack, ranging in size from $2MM to $900MM+. Prior to Wells Fargo, he was an Associate in Wachovia’s Real Estate Investment Banking Group.