The Distribution by Juniper Square

Krysto Nikolic is a Senior Managing Director and Global Head of Real Estate at ICG.

Before joining ICG, he was Head of European Real Estate at Starwood Capital Group, serving on its Global Investment and Operating Committees.

Previously, Krysto was a Partner at TPG and started his career at Goldman Sachs International.

Krysto has led over $14 billion of real estate acquisitions and served on the Board of Directors of multiple portfolio companies and real estate platforms.

Links:

ICG - https://icgam.com/

Krysto on LinkedIn - https://www.linkedin.com/in/krysto-nikolic/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:32) - Krysto’s background and career

(00:14:46) - 2012 market dynamics

(00:17:19) - The transformation of European platform investing

(00:19:26) - Experiences at TPG

(00:25:42) - Joining Starwood

(00:30:35) - Transitioning to ICG

(00:35:42) - ICG’s real estate platform

(00:48:42) - The state of the European markets

(00:56:57) - Undervalued asset classes & markets

Scott is a Managing Director and Co-Head of Real Estate on the Real Assets Investment team where he is responsible for the evaluation and due diligence of private real estate investment opportunities. He is a member of the Real Assets Investment Committee.  

From 2011 until joining Hamilton Lane in 2017, Scott was a Senior Consultant with Real Asset Portfolio Management LLC focused primarily on the Firm’s real estate investment initiatives with secondary support on other asset classes. Previously, Scott worked in San Diego, California for two private investment firms where he focused on acquiring and trading commercial real estate whole loans and real estate as well as leading underwriting efforts for acquisition of commercial and residential real estate and debt opportunities.

Links:

Hamilton Lane - https://www.hamiltonlane.com/en-us

Scott on LinkedIn - https://www.linkedin.com/in/scott-davies-06ab503/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:05) - Scott’s background and career

(00:15:22) - What is Hamilton-Lane’s footprint today?

(00:18:48) - Bringing the best ideas to clients

(00:20:50) - Why haven’t people heard of HL?

(00:22:28) - What are the table stakes for an exceptional investment manager?

(00:28:49) - Does HL have its own discretionary investment vehicle?

(00:30:32) - What are you seeing in terms of investor appetite?

(00:31:50) - How do you work with investment managers?

(00:33:41) - How are you looking at the performance track records in the post-ZIRP era?

(00:38:10) - How do you think about operational due diligence?

(00:41:00) - What are you seeing in the market today?

(00:48:29) - Has the private wealth side of Hamilton Lane crossed over into real assets?

(00:50:03) - What do you want to see more in your flow?

Michael Episcope co-founded Origin Investments in 2007. Michael is co-CEO, co-chairs the investment committee and oversees investor relations and capital raising. 

Links:

Origin Investments - https://origininvestments.com/

Michael on LinkedIn - https://www.linkedin.com/in/michaelepiscope/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:34) - Origin Investments and Michael’s career

(0010:54) - Building Origin

(00:17:02) - How were you able to build your investor base?

(00:21:25) - How would you describe the typical Origin investor?

(00:24:57) - How do you approach investor relations?

(00:27:14) - What is your fund structure?

(0:30:24) - What are you seeing in terms of investor appetite?

(00:33:24) - How does it work structurally when you go outside your investment base to raise?

(00:39:43) - What is Origin’s AUM?

(00:41:39) - What are you seeing in the multifamily market these days?

(00:45:54) - AI

(00:51:37) - 2025 insights

(00:53:02) - How do you think about enterprise value?

(00:59:21) - What are you most excited about for the next 3-5 years?

Warren de Haan is a founder, Chief Executive Officer, and member of ACORE CAPITAL's Investment Committee.

Mr. de Haan has over 25 years of experience in commercial real estate finance and capital markets. Before co-founding ACORE CAPITAL, he was Chief Originations Officer at Starwood Property Trust, Inc. (NYSE: STWD), a public mortgage REIT, from 2010 to 2014, during which time the REIT grew from $780 million market cap to $5.5 billion market cap. Mr. de Haan was a founding partner and Head of Originations at Countrywide Commercial Real Estate Finance, overseeing the expansion of the division's footprint to 15 offices across the U.S. He also co-founded Coastal Capital, a firm focused on the acquisition of U.S. CRE loans post GFC. Mr. de Haan began his career as an originator in Nomura's New York City-based Large Commercial Real Estate Loan Group.

Links:

ACORE Capital

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:15) - Warren’s background and career

(00:24:15) - ACORE Capital

(00:32:43) - How do you see the proliferation of sub-scale managers in the market?

(00:36:55) - How should folks think about asset managers in the context of a financing business?

(00:41:32) - What’s the state of the CRE Debt market?

(00:50:14) - How do you see fundamentals performing right now?

Disclaimer: Certain statements contained herein reflect the subjective views and opinions of ACORE Capital (“ACORE”) and may include our general view of the market and expectations of the market in the future.  This presentation may contain forward-looking statements.  Forward-looking statements are inherently uncertain and there is no guarantee that any projections or estimates about the future will materialize.  Under no circumstances is this presentation to be used or considered as an offer to sell, or a solicitation of any offer to buy, any security.  Any such offering may be made only by an offering memorandum that would be furnished to prospective investors who express an interest in an investment program of the type being considered, and that would describe the risks associated with an investment in the investment program. The information in this presentation is provided to you as of the dates indicated and ACORE does not intend to update the information after its distribution, even in the event that the information becomes materially inaccurate.   The information contained herein may not be reproduced in whole or in part nor disclosed by the recipient to any other party without ACORE’s prior written consent. 

Daryl J. Carter, a 41-year veteran of the commercial real estate industry, is the Founder, Chairman, and CEO of Avanath Capital Management, LLC. Mr. Carter directs the overall strategy and operations of the Company, a California-based investment firm that acquires, renovates, and operates apartment properties, with an emphasis on affordable and workforce communities. Since its formation in 2008, Avanath has acquired $3.5 billion of properties across 14 states in the U.S., comprising 15,000 apartment units. Avanath is vertically integrated and is an SEC-registered investment advisor and institutional fund manager.

Links

Avanath Capital Management - https://www.avanath.com/

Daryl on LinkedIn - https://www.LinkedIn.com/DarylCarter

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:00:55) - Daryl’s background and career

(00:06:15) - Did you know you wanted to be in Real estate?

(00:07:53) - What got you interested in architecture? 

(00:09:24) - Starting Capri Capital

(00:18:28) - The myths of investing in affordable housing

(00:26:36) - How has the affordable housing industry changed over the past 15 years?

(00:32:06) - What do you hope will happen for housing affordability?

(00:37:09) - What is your unique advantage as a firm?

(00:41:08) - What attributes are requirements for communities you own?

(00:45:19) - Are 3-4br apartments going to be the norm in the future?

(00:47:50) - How is the industry doing in bringing a more diverse workforce together?

(00:54:07) - What do you think are markers of great leadership?

Owen Thomas is the Chairman and CEO of BXP. He served as the first Chairman at Lehman from 2012 until 2013 when he joined BXP. Before Lehman, Mr. Thomas was with Morgan Stanley for 24 years serving in several different roles, business units, and locations, including Chief Executive Officer of Morgan Stanley Asia and Chairman of Mitsubishi UFJ Morgan Stanley Securities, while living in Hong Kong from 2008 until 2011. He also held the roles of President of Morgan Stanley Investment Management and head of Morgan Stanley Real Estate and served on Morgan Stanley’s Management Committee from 2005 until 2011.

Links:

BXP - https://www.bxp.com/

Owen on LinkedIn - https://www.linkedin.com/in/owen-thomas-4012a640/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:31) - Owen’s background and career

(00:24:00) - Where are we today in the office market?

(00:29:52) - What do WFH/WFO policy talks look like with tenants?

(00:37:05) - What makes something a “premiere” asset?

(00:43:43) - What is your role in the economic health of a city?

(00:48:01) - What’s your involvement with affordable housing? 

(00:50:17) - What’s your take on the overall health of the innovation sector as it rebounds?

(00:53:39) - How do you think about sustainability in the office environment?

Randy is the Chairman of Green Courte and The Parking Spot, Green Courte’s near-airport parking portfolio operating company. 

Randy is also a co-founder and former Chairman of Transwestern Investment Company, LLC, and former Chairman and Director of Transwestern Commercial Services, LLC. Randy was also Chairman and Chief Executive Officer of Hometown America, LLC, a large owner of manufactured housing communities. 

Links:

Green Courte Partners - https://greencourtepartners.com/

Randy on LinkedIn - https://www.linkedin.com/in/randy-rowe-4822b812/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:14) - Randy’s background and career

(00:10:17) - What was it like working for Sam Zell?

(00:13:42) - How do you think about the evolution of the market over the course of your career?

(00:24:13) - What led you to make the jump to Transwestern?

(00:27:29) - Why didn’t the Rockefeller Center deal not work out?

(00:29:56) - Building Transwestern

(00:34:00) - Starting Green Courte Partners

(00:41:28) - What is a covered land play?

(00:42:51) - How do you think about transforming capital allocations from niche sectors into alternatives?

(00:49:26) - What’s the size of your organization today?

(00:52:02) - What trends are you tracking right now?

(00:58:16) - Closing advice

Matt Kaplan is the Managing Partner of Almanac Realty Investors, an investment company providing growth capital to real estate companies in North America. He is responsible for overseeing the activities of the firm as well as the portfolio management of the ARS Funds. Prior to joining Almanac in 1990, Kaplan served in the Corporate Finance Department of Rothschild Inc, one of the world’s largest independent financial advisory groups today.

Links:

Almanac Realty Investors

Matt on LinkedIn

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:37) - Matt’s background and career

(00:09:36) - What were some early lessons learned that informed your career?

(00:11:18) - What was your original thesis for Almanac?

(00:16:43) - What does the organization look like today?

(00:21:13) - How do you differentiate the GP stakes side of the business and the RE investing side?

(00:24:23) - Where are we in the market today?

(00:27:45 - How do you think about the difference between platform and asset investing?

(00:32:45) - What do you look for in partners and GPs?

(00:38:48) - What advice would you give to GPs wanting to be ‘ready’ to partner with a firm like yours?

(00:42:36) - How do you think about governance?

(00:46:21) - Do you see boards of directors created post-investment?

(00:50:00) - Where do you see the industry over the next 20 years?

(00:51:35) - How does the rise of private wealth impact the industry?

(00:53:34) - How would you describe your approach to technology?

Meghan Reynolds is a Partner and Head of Capital Formation at Altimeter Capital Management. She brings over two decades of experience in finance and private equity to her role. Prior to joining Altimeter, Meghan was a Managing Partner at TPG, where she was global co-head of Capital Formation for 10 years.

Links:

Meghan on X

Altimeter

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:18) - Meghan’s career and background

(00:15:54) - Leaving Goldman Sachs for TPG

(00:20:45) - The decision to join Altimeter

(00:22:31) - What is your role with Altimeter?

(00:30:35) - How do you know when you’re deviating from the goal of Essentialism?

(00:33:09) - What do investors want these days from folks like Altimeter?

(00:38:40) - Do you see investors putting capital in both private and public markets?

(00:42:56) - What are your big ideas right now in regard to technology investing?

(00:47:10) - What role does X/Twitter play in your career?

(00:51:38) - What advice would you give to women looking to get into your field?

Ryan is Co-CEO and Co-Founder and provides strategic direction and oversees capital sourcing for Graceada Partners’ portfolio. He serves on Graceada Partners’ investment committee and focuses on strategic capital relationships, leading Graceada Partners’ sponsorship of three real estate funds and prior syndications.

Links:

Graceada Partners - https://www.graceadapartners.com/

Ryan on LinkedIn - https://www.linkedin.com/in/ryan-swehla/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:18) - Ryan’s career and background

(00:11:20) - Starting a business amid the GFC

(00:16:11) - What does your business look like today?

(00:20:02) - What is your strategy?

(00:23:36) - Why wouldn’t any institutional manager be able to follow your strategy?

(00:26:34) - What does the infrastructure of your business look like?

(00:28:10) - What’s been most surprising about these markets you operate in?

(00:31:57) - Following the In-N-Out Strategy

(00:34:53) - What does your addressable market look like?

(00:37:23) - What are the economics your teams are seeing in the markets you operate in?

(00:39:25) - What’s the secret behind being a first-mover in these markets?

(00:43:52) - What have you learned as an emerging manager in institutional investment management?

(00:46:52) - What are your top business priorities going forward?