The Kirsh Connection

Jason Post, Founder of Post Investment Group, joins me to discuss today’s housing market, where he’s finding opportunity, and the challenges of building and investing in affordable housing.

We discuss:

• Reading the Market: Jason’s perspective on today’s real estate landscape.
• Finding Deals That Pencil: Is affordable housing getting harder to underwrite—and where is Jason finding opportunity?
• The Oversupply Ripple Effect: Why excess market-rate supply also puts pressure on affordable housing.
• The Affordable Housing Cost Paradox: Why affordable housing can cost twice as much to build as market-rate housing.

*Learn more about Jason*

LinkedIn: https://www.linkedin.com/in/postjason

Post Investment Group: https://postinvestmentgroup.com/

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In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

*Don't miss an episode of The Kirsh Connection*

• Apple Podcasts: https://apple.co/3GT1hoM

• Spotify: https://spoti.fi/3OQrd6j

• ListenNotes:https://www.listennotes.com/podcasts/the-kirsh-connection-andrew-kirsh-4frZReOA3-i/

• iHeartRadio:https://www.iheart.com/podcast/269-the-kirsh-connection-240080264/

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Andrew on Twitter: https://x.com/atkirsh

• Sklar Kirsh LLP LinkedIn:https://www.linkedin.com/company/sklar-kirsh-llp

• Sklar Kirsh LLP Instagram:https://www.instagram.com/sklarkirsh/?hl=en #realestate

#sklarkirsh #podcast #realestatepodcast

Brian Shirken’s journey has taken him from South Africa to Los Angeles to Park City—and through decades of real estate investing. On this episode of The Kirsh Connection, we discuss how he secured an institutional partner for his first deal, a 300,000-square-foot retail center in Columbus, Ohio; the roles of timing, luck and execution; and why the bubble of 2020–2022 was so difficult to recognize in the moment. Brian also shares advice for investors navigating challenging legacy deals, starting with identifying their unique skills and where they can add the most value.

We discuss:

• Landing an Institutional Partner for YourFirst Deal - How Brian capitalized his first deal—a 300,000-square-foot retail center in Columbus, Ohio—with an institutional partner
• Timing, Luck or Execution: What Matters Most? - How much of real estate success comes from buying at the right time, and how much comes from executing well? Brian shares his perspective
• Why Was the 2020–2022 Bubble So Hard to See? - Brian reflects on historically low interest rates and why he—and so many others—failed to recognize the bubble as it was forming
• Struggling With Legacy Deals? Start With Your Unique Skill Set - Brian’s advice for investors working through difficult acquisitions from the early 2020s: identify what you do best and where your skills can create value

*Learn more about Brian*

LinkedIn: https://www.linkedin.com/in/brian-shirken-a55165127/

Mountain Pacific: https://www.mntpac.com/ 

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In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

*Don't miss an episode of The Kirsh Connection*

• Apple Podcasts: https://apple.co/3GT1hoM

• Spotify: https://spoti.fi/3OQrd6j

• ListenNotes:https://www.listennotes.com/podcasts/the-kirsh-connection-andrew-kirsh-4frZReOA3-i/

• iHeartRadio:https://www.iheart.com/podcast/269-the-kirsh-connection-240080264/

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Andrew on Twitter: https://x.com/atkirsh

• Sklar Kirsh LLP LinkedIn:https://www.linkedin.com/company/sklar-kirsh-llp

• Sklar Kirsh LLP Instagram:https://www.instagram.com/sklarkirsh/?hl=en #realestate

#sklarkirsh #podcast #realestatepodcast

From selling flowers on street corners in Los Angeles as a teenager to building a billion-dollar industrial real estate portfolio, Brad Cohen's entrepreneurial journey is anything but conventional. In this episode, I sit down with Brad Cohen, Founder of Cohen Asset Management, to discuss his early entrepreneurial ventures, how he sold his textile business and retired at just 31 years old, and what ultimately led him into commercial real estate. Brad shares his disciplined investment philosophy of acquiring the best buildings in the best locations with the right amount of leverage, and explains how he's building a real estate business designed to last for generations.

It's a great conversation about entrepreneurship, smart investing, taking calculated risks, and creating a lasting legacy.

We discuss:

• How Brad's entrepreneurial journey began as a teenager selling flowers on the streets of Los Angeles
• Why Brad sold his successful textile business at 31, retired, and ultimately decided to pursue a new career in real estate
• Brad's investment philosophy: Buy the best buildings in the best locations, and use the right amount of leverage
• Brad discusses creating a multigenerational business and building a legacy that extends well beyond his own career

*Learn more about Brad*

• Cohen Asset Management: https://cohenasset.com/leaders-advisors/

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In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

*Don't miss an episode of The Kirsh Connection*

• Apple Podcasts: https://apple.co/3GT1hoM

• Spotify: https://spoti.fi/3OQrd6j

• ListenNotes:https://www.listennotes.com/podcasts/the-kirsh-connection-andrew-kirsh-4frZReOA3-i/

• iHeartRadio:https://www.iheart.com/podcast/269-the-kirsh-connection-240080264/

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Andrew on Twitter: https://x.com/atkirsh

• Sklar Kirsh LLP LinkedIn:https://www.linkedin.com/company/sklar-kirsh-llp

• Sklar Kirsh LLP Instagram:https://www.instagram.com/sklarkirsh/?hl=en #realestate

#sklarkirsh #podcast #realestatepodcast

Inside a Real Estate Family Office with Adam Weinbaum of A&M Capital Real Estate

Adam Weinbaum, Managing Director at Alvarez & Marsal Capital Real Estate, joins me to discuss how a real estate family office thinks about risk, capital and opportunity. We cover why the market misprices development risk, the blessing and curse of being a generalist, why “capital has a personality,” and why more pain still needs to be realized in today’s market.

We discuss:

•  Why the Market Misprices Development Risk
• Being a Real Estate Generalist: A Blessing and a curse
• “Capital Has a Personality” — Why Fund Life Matters
• The Pain in Real Estate Still Needs to Be Realized

*Learn more about Adam*

• LinkedIn: https://www.linkedin.com/in/adam-weinbaum-5587324/

• Alvarez & Marsal Capital:  https://www.amcapitalre.com/team/adam-weinbaum

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In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

*Don't miss an episode of The Kirsh Connection*

• Apple Podcasts: https://apple.co/3GT1hoM

• Spotify: https://spoti.fi/3OQrd6j

• ListenNotes:https://www.listennotes.com/podcasts/the-kirsh-connection-andrew-kirsh-4frZReOA3-i/

• iHeartRadio:https://www.iheart.com/podcast/269-the-kirsh-connection-240080264/

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Andrew on Twitter: https://x.com/atkirsh

• Sklar Kirsh LLP LinkedIn:https://www.linkedin.com/company/sklar-kirsh-llp

• Sklar Kirsh LLP Instagram:https://www.instagram.com/sklarkirsh/?hl=en #realestate

#sklarkirsh #podcast #realestatepodcast

The Opportunity in Asset-Based Lending with Angela Kay, President of Basepoint

In this episode, I sit down with Angela Kay, President ofBasepoint, to discuss the evolving asset-based lending market and the growing opportunity for non-bank lenders.

We discuss:

• Basepoint’s lending strategy and how the firm provides credit to institutions that finance Main Street America.
• Cracking the institutional capital code — what it takes to attract institutional fund investors and build credibility with sophisticated capital partners.
• Why today’s market is creating attractive lending opportunities, including the scarcity of capital as regional banks have pulled back and how that is creating opportunities to provide higher-yielding debt.
• Succeeding as a woman in finance and Angela’s perspective on building a career and leadership position in a historically male-dominated industry.

Learn more about Angela

• LinkedIn: https://www.linkedin.com/in/angela-kay-56b9142b/

• Basepoint : https://basepointgroup.com/team/

“Angela Kay is President of BasePoint Advisors LLC ("BPA"), an investment adviser registered with the U.S. Securities and Exchange Commission, and also serves as Global Head of Capital Markets at BasePoint Capital LLC, an affiliate of BPA that is a commercial service provider to separately organized lending subsidiaries. See Items 10 and 11 of BPA's Form ADV Part 2A. This content reflects Ms. Kay's personal views and is provided for general informational purposes only. It is not investment, legal, or tax advice, or an offer or solicitation to invest in any fund.”

*******************************************

In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

*Don't miss an episode of The Kirsh Connection*

• Apple Podcasts: https://apple.co/3GT1hoM

• Spotify: https://spoti.fi/3OQrd6j

• ListenNotes:https://www.listennotes.com/podcasts/the-kirsh-connection-andrew-kirsh-4frZReOA3-i/

• iHeartRadio:https://www.iheart.com/podcast/269-the-kirsh-connection-240080264/

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Andrew on Twitter: https://x.com/atkirsh

• Sklar Kirsh LLP LinkedIn:https://www.linkedin.com/company/sklar-kirsh-llp

• Sklar Kirsh LLP Instagram:https://www.instagram.com/sklarkirsh/?hl=en #realestate

#sklarkirsh #basepoint #podcast #realestatepodcast

On this episode of The Kirsh Connection, I sit down with Nick Matus, President of Benedict Canyon Equities, to discuss the current multifamily investment landscape and how private investors can access an institutional approach to the asset class. Nick shares his perspective on how the dramatic rise in interest rates has challenged the multifamily industry —but also why those same challenges are creating opportunities for well-positioned investors. We discuss the differences between working for an institutional equity provider and an operator, when institutional capital may meaningfully return to the transaction market, and how experienced operators navigate investments when deals don’t go according to plan.

We discuss:

• Why today’s challenging interest-rate environment may create significant opportunities
• Institutional equity provider vs. operator: the differences in perspective and approach
• When will institutional equity providers start transacting again?
• Navigating challenged deals and working through investments when things don’t go as planned

*Learn more about Nick*

• LinkedIn: https://www.linkedin.com/in/nicholas-matus-32a4414/

• Benedict Canyon Equities : http://bceproperties.com/leadership/nicholas-matus/

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In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

*Don't miss an episode of The Kirsh Connection*

• Apple Podcasts: https://apple.co/3GT1hoM

• Spotify: https://spoti.fi/3OQrd6j

• ListenNotes:https://www.listennotes.com/podcasts/the-kirsh-connection-andrew-kirsh-4frZReOA3-i/

• iHeartRadio:https://www.iheart.com/podcast/269-the-kirsh-connection-240080264/

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Andrew on Twitter: https://x.com/atkirsh

• Sklar Kirsh LLP LinkedIn:https://www.linkedin.com/company/sklar-kirsh-llp

• Sklar Kirsh LLP Instagram:https://www.instagram.com/sklarkirsh/?hl=en #realestate

#sklarkirsh #bce #podcast #realestatepodcast

Finding Opportunistic Opportunities with Dan Feldman

Dan Feldman, President of Sunroad Enterprises, joins me to share lessons from the company's five decades of opportunistic investing and navigating changing market cycles.

We discuss why demand for traditional automobiles has increased despite the rise of driverless technology, where Dan sees compelling opportunities in today’s market, why there is a credible argument both for and against investing in virtually every market in the country, and how AI has completely transformed asset management.

*Learn more about Dan*

• LinkedIn:  https://www.linkedin.com/in/dan-feldman-1a7225139/

• Sunroad: https://sunroadenterprises.com/executive-profiles/dan-feldman/

*******************************************

In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

*Don't miss an episode of The Kirsh Connection*

• Apple Podcasts: https://apple.co/3GT1hoM

• Spotify: https://spoti.fi/3OQrd6j

• ListenNotes:https://www.listennotes.com/podcasts/the-kirsh-connection-andrew-kirsh-4frZReOA3-i/

• iHeartRadio:https://www.iheart.com/podcast/269-the-kirsh-connection-240080264/

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Andrew on Twitter: https://x.com/atkirsh

• Sklar Kirsh LLP LinkedIn:https://www.linkedin.com/company/sklar-kirsh-llp

• Sklar Kirsh LLP Instagram:https://www.instagram.com/sklarkirsh/?hl=en #realestate

#sklarkirsh #sunroadenterprises #podcast #realestatepodcast

After nearly 50 years in commercial real estate, Carl Muhlstein has seen Los Angeles transform—and the brokerage business transform with it.

Carl joins The Kirsh Connection to discuss why he still loves the real estate business after five decades, whether technology is helping or hurting the development of the next generation of brokers, and the dramatic decline of Downtown Los Angeles from the city’s longtime business center. We also discuss the changing entertainment industry, the consolidation of major studios, and what the Paramount/Warner Bros. combination could mean for Los Angeles real estate. It’s a conversation about what has changed, what hasn’t, and what five decades in the business can teach the next generation of real estate professionals.

We discuss:

50 Years Later, He Still Loves the Real Estate Business -- After nearly half a century in brokerage, Carl Muhlstein explains what keeps him excited about real estate.

Is Technology Making Young Brokers Better—or Holding Them Back? -- Carl discusses whether technology is accelerating young brokers’ careers—or preventing them from developing the skills that made earlier generations successful.

What Happened to Downtown Los Angeles? -- Downtown LA was once the undisputed power center of the city. Carl explains how it got there—and what the exodus of major global companies means for its future.

Hollywood Consolidation Is a Real Estate Story -- Carl discusses the transformation of the entertainment industry and what the Paramount/Warner Bros. combination could mean for Los Angeles real estate.

Learn more about Carl:

Connect with Carl on LinkedIn: https://www.linkedin.com/in/carl-muhlstein-a2799/

Muhlstein CRE: https://www.muhlsteincre.com/about

*******************************************

In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn  their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

Don't miss an episode of The Kirsh Connection:

• Listen on Apple Podcasts: https://apple.co/3GT1hoM

• Listen on Spotify: https://spoti.fi/3OQrd6j

• Listen on Anchor: https://podcasters.spotify.com/pod/sh...

• Listen on Listen Notes: https://lnns.co/7ICHmPQyXnU

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Connect with Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Connect with Andrew on Twitter: https://x.com/atkirsh

• Visit Andrew's business website: https://www.sklarkirsh.com/profession...

• Follow Sklar Kirsh LLP on LinkedIn: https://www.linkedin.com/company/sklar-kirsh-llp

• Follow Sklar Kirsh LLP on Instagram: https://www.instagram.com/sklarkirsh/?hl=en

The Kirsh Connection is produced and edited by Ashley Thays

On this episode of The Kirsh Connection, I sit down with Amachie Ackah, Co-Founder of Clay Cove Capital, to discuss how his firm identifies investment opportunities at the intersection of private equity, operating businesses and real estate. We discuss why Clay Cove focuses on growing niche sectors such as art storage, early childhood education andalternative hospitality; why they prefer building platforms rather than making one-off investments; how they encourage operating partners to own their real estate and turn a liability into an asset; and how they identify operating leverage that can drive value across a platform.

A great conversation about looking beyond traditional realestate asset classes to find opportunities others may be overlooking.  We discuss:

Finding Growth in Overlooked Real Estate Niches - Whereare the next interesting real estate opportunities? Amachie explains why Clay Cove is following the growth of businesses like art storage, early childhood education and alternative hospitality—and the real estate opportunities thatcome with them.

Why Invest in Platforms, Not Just Properties? - Clay Cove isn't simply looking for individual real estate investments. Amachie explains why they prefer investing behind operating platforms and how that approach can create opportunities to scale.

Turn Your Rent Into an Asset - If an operating business is going to occupy real estate for years, why keep paying someone else rent? Amachie explains why Clay Cove encourages its operating partners to purchase their real estate—turning a long-term liability into an asset.

Finding Operating Leverage - Buying assets is only part of the equation. Amachie discusses how Clay Cove looks for operating leverage within its investments and how improvements at the platform level can drive value acrossthe business.

Learn more about Amachie:

Connect with Amachie on LinkedIn: https://www.linkedin.com/in/amachie-ackah-0441842a5/

Clay Cove: https://www.claycovecapital.com/our-team/amachie-ackah

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In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn  their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

Don't miss an episode of The Kirsh Connection:

• Listen on Apple Podcasts: https://apple.co/3GT1hoM

• Listen on Spotify: https://spoti.fi/3OQrd6j

• Listen on Anchor: https://podcasters.spotify.com/pod/sh...

• Listen on Listen Notes: https://lnns.co/7ICHmPQyXnU

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Connect with Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Connect with Andrew on Twitter: https://x.com/atkirsh

• Visit Andrew's business website: https://www.sklarkirsh.com/profession...

• Follow Sklar Kirsh LLP on LinkedIn: https://www.linkedin.com/company/sklar-kirsh-llp

• Follow Sklar Kirsh LLP on Instagram: https://www.instagram.com/sklarkirsh/?hl=en

The Kirsh Connection is produced and edited by Ashley Thays

From $200/SF to $800/SF: How Jofa Capital Finds Value Where Others Aren’t Looking featuring Jackson Brissette and Brian Novak

Jackson Brissette and Brian Novak join The Kirsh Connection to break down Jofa Capital’s investment strategy through the lens of their Hawthorne airplane hangar deal. We discuss why they pursue complicated transactions, the importance of maintaining optionality, and how they turned a purchase at under $200 per square foot into a sale at more than $800 per square foot just three years later. We also discuss why finding great deals is harder than finding capital, the advantage of “fishing” where others aren’t, and why mission-critical real estate in the South Bay is benefiting from the growth ofadvanced manufacturing.

We discuss:

• Going from under $200/SF to over $800/SF in three years -- Jofa Capital gravitates toward complicated deals where there are multiple potential paths to create value. Jackson and Brian explain why optionality is so important to their investment strategy—and how that approach helped turn their Hawthorne acquisition at under $200 per square foot into a sale at more than $800 per square foot just three years later.

• Fish Where Others Aren’t Fishing -- How do you find attractive opportunities when everyone is chasing the same deals? Jackson and Brian explain Jofa Capital’s philosophy of “fishing in an area of the lake where others are not” and why looking where there is less competition can create an investment advantage.

• Good Deals Are Harder to Find Than Capital -- There is plenty of capital looking for a home—but far fewer great deals. Jackson and Brian discuss why sourcing compelling opportunities has become harder than raising capital and why the ability to identify the right investment is increasingly valuable.

• Mission-Critical Real Estate in the Heart of Advanced Manufacturing -- The Hawthorne airplane hangar wasn’t just another industrial property. Jackson and Brian explain why its location in the South Bay—the epicenter of Southern California’s advanced manufacturing and aerospace ecosystem—made the property mission-critical real estate.

Learn more about Jackson and Brian:

Connect with Jackson on LinkedIn: linkedin.com/in/jacksonbrissette

Connect with Brian on LinkedIn: https://www.linkedin.com/in/brian-novak-821885270/

Jofa Capital: https://www.jofacapital.com/about

*******************************************

In each episode of The Kirsh Connection, Andrew Kirsh interviews industry leaders to learn  their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

Don't miss an episode of The Kirsh Connection:

• Listen on Apple Podcasts: https://apple.co/3GT1hoM

• Listen on Spotify: https://spoti.fi/3OQrd6j

• Listen on Anchor: https://podcasters.spotify.com/pod/sh...

• Listen on Listen Notes: https://lnns.co/7ICHmPQyXnU

Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

• Connect with Andrew on LinkedIn: https://www.linkedin.com/in/andrewkirsh/

• Connect with Andrew on Twitter: https://x.com/atkirsh

• Visit Andrew's business website: https://www.sklarkirsh.com/profession...

• Follow Sklar Kirsh LLP on LinkedIn: https://www.linkedin.com/company/sklar-kirsh-llp

• Follow Sklar Kirsh LLP on Instagram: https://www.instagram.com/sklarkirsh/?hl=en

The Kirsh Connection is produced and edited by Ashley Thays