Co-Living With Susan Tjarksen of Cushman and Wakefield

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Joining Phil on this episode is Susan Tjarksen, Managing Director at Cushman and Wakefield.  Susan has over 30 years of experience in real estate, in both the public and private sectors.  She is a leading expert on co-living and joins us to discuss how buildings are being developed and adapted for the Co-living model to generate more income per square foot while at the same time serving marketplace demands.  Co-living is a community style of living where common spaces are shared, and spaces such as bedrooms are private, with each tenant responsible only for their share (rather than everyone in one unit being jointly and severally liable).  Susan and Phil discuss why co-living, which has existed for quite some time in various forms, is regaining popularity among the younger professional demographic: millennials.  Susan goes in depth about what is attracting more and more people to co-living in the gateway markets.  One of the main reasons is affordability, because rent is rapidly expanding in these markets, and the other is convenience.  This creates an opportunity for developers and investors.  According to a survey by the National Apartment Association, millennials chose to live close to work and travel for entertainment, which makes co-living all the more attractive for young professionals seeking the ideal living situation.

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DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Finding Space for the Future of Your Business with Jon Milonas of CBRE

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In this episode, Phil is joined by Jon Milonas, a Senior Vice President in CBRE’s Tenant Representation Group, the largest commercial real estate firm in the world.  Jon’s Chicago team focuses on helping occupiers of real estate to align their business strategies with their real estate, by identifying the needs and challenges of an organization and couple those needs with finding the right office space.  Jon discusses his approach to clients by asking where businesses see themselves in 5-10 years, and how to help them achieve their vision by finding an appropriate office space for their current and future business.  Jon elaborates by mentioning the two most important questions that his clients should be answering when solving issues from both a challenge and a future goal perspective:  (1) what are their deficiency drivers; and (2) what are their success factors?  Jon stresses the importance of these questions and what it will mean for a business’ future.  Jon authored the book: “Kicking Off Your Office Lease: 6 Proven Steps to Develop a Thorough Strategy and Avoid Costly Mistakes,” which helps to prepare businesses in starting a conversation with their executives and bringing in the right people to run a project.  Jon emphasizes that so much of what business relationships consist of is confidence, and if you have confidence in your relationships, you can strengthen them and move forward toward reaching your real estate goals.

Jon Milonas is a Senior Vice President in CBRE’s Tenant Representation Group in the Chicago Region. Jon focuses his practice on developing comprehensive and strategic real estate plans, structuring and negotiating office leases, and assisting with the renewal, relocation and sublease/buyout of leased properties.  During his career, Jon has completed over two hundred fifty transactions on behalf of local Chicago based organizations as well as national and global organizations such as Willis Towers Watson, PwC, McGraw-Hill Companies, Morningstar, Hewlett Packard, Prudential, and Société Générale. Jon’s team has successfully transacted across a wide array of industries, with a focus in the legal, financial services, insurance, technology and consulting sectors.

Prior to joining CBRE in 2007, Jon worked as an International Representative of the YMCA of the USA, in Valparaiso, Chile. In this role, he was the Spanish-English oral and written translator and participated as a member of the Chilean International Committee facilitating international leadership conferences. 

View more on Jon and CBRE here.

DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Large Scale Development and Geographic Expansion with Matt Katsaros of CA Ventures

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Joining Phil Coover on this episode of Real Estate for Breakfast is Matt Katsaros, SVP – Acquisitions of CA Ventures’ subsidiary—CA Residential. CA Ventures is one of the fastest growing real estate companies in the Midwest, and does about $1.5 Billion in real estate development every year.  Matt and Phil discuss the history of CA Ventures from its initial niche in student housing to a current portfolio of multiple asset classes and real estate services. Matt shares trends in residential real estate development and investment markets across the U.S.

Founded in 2004, CA Ventures is an international real estate investment management company headquartered in Chicago, IL, with offices in Denver, CO, and London. The firm found initial success focusing on off-campus student housing and has delivered almost 50,000 units (or beds) of student accommodation across 40 major university markets. Today the portfolio is diverse spanning multiple asset classes including student, senior and other residential real estate, as well as industrial and office markets.

You can find out more about CA Ventures here:  https://ca-ventures.com/ 

DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Collete English Dixon of the Marshall Bennett Institute of Real Estate

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In this episode, Phil is joined by Collete English Dixon, Executive Director of the Marshall Bennett Institute of Real Estate and Operational Chair of Real Estate in the Heller College of Business, at Roosevelt University, Chicago, IL.  The dynamic Marshall Bennett Institute of Real Estate sets itself apart from other educational institutions in that it’s deeply intertwined with the Chicago Real Estate community, by helping those in the community to feed off of and learn from one another.  Collete and Phil discuss how valuable networking and educational opportunities within the Marshall Bennett Institute of Real Estate can help further the careers of professionals and enable students to grow in the Real Estate community.  Collete also discusses the academic offerings of the Institute such as the Masters in Real Estate (MSRE) program, and the creation of the Advisory Board, which consists of industry leaders who share their knowledge with students, providing a connection with those who are moving the Real Estate industry forward.

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Collete English Dixon has more than 30 years in investment management with a focus on commercial real estate investing. Prior to her current role at Roosevelt University, she was Executive Director - Transactions for PGIM Real Estate (formerly known as PREI), a business unit of Prudential Financial, and co-leader of PREI’s national investment dispositions program. In that role, she oversaw the sale of more than 200 investment properties located throughout the US, with a total value of more than $8.7 Billion, on behalf of PREI’s investment funds. Prior to her role in dispositions, Collete was responsible for sourcing more than $2.75B of wholly-owned and joint venture real estate investment opportunities in the Midwestern markets covering all property types, including office, multi-family, hotel, industrial and retail properties. Collete’s experience also includes property development and asset management.

She is a Past President of CREW Network, a Past Chair of the CREW Network Foundation, a Past President of CREW Chicago, a full member of ULI and the 2016-2019 Chair of the UDMU Council/Purple. She is a member of the Board of Directors and Chair of the Investment Committee for the Housing Partnership Equity Trust, a member of the Board of Directors for BDREX and a member of its Audit and Governance committees, a board member of the Chicago Forum of the International Women’s Forum, and a member of the Board of Directors of the Oak Park River Forest Food Pantry.

Episode 34 – Kevin Bupp, CEO of Sunrise Capital

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On this episode, Phil Coover is joined by Kevin Bupp, CEO of Sunrise Capital Investors and host of the popular podcast “Real Estate Investing for Cash Flow”, on which Phil was a guest in November. Florida-based with a national presence, Sunrise Capital has developed an investment niche in mobile home parks. Kevin and Phil discuss what makes this asset class different from other multi-family commercial real estate and the unique opportunity it presents. Kevin also talks about making the transition from self-funded investment to finding partners and raising capital.

Kevin Bupp is a real estate and marketing professional with extensive business development experience who holds a sincere passion for helping investors achieve above average and safe returns. He has a successful track record of identifying and re-positioning multi-family value-add properties. Kevin’s “Real Estate Investing for Cash Flow” podcast is available on iTunes.

DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Episode 33 – Retail is Alive! Innovations in Retail Real Estate with Marget Graham and Jaime Bertsche of Mid-America Real Estate Group

Joining Phil this episode are Marget Graham and Jaime Bertsche of Mid-America Real Estate Group, the leading full-service retail real estate organization in the Midwest.  During this holiday time, we always think of retail.  Over the last few years, retail real estate has been beaten down in the markets and in the press, as it went through a tumultuous time.  Marget and Jaime, key aspects of Mid-America’s third party landlord brokerage division, share the ways that large retail properties are being used in exciting new ways. Malls and other shopping centers are increasingly converting to mixed-use developments incorporating entertainment, residential and medical components and utilizing common spaces to attract new tenants and customers.  Some shopping centers even have swim schools where retail used to be!

Marget Graham is a Principal/Vice President responsible for co-managing new business development and leasing efforts in the Mid-America Asset Management portfolio.  She has been with Mid-America Asset Management since 2000 and has specialized solely in Landlord representation. Jaime Bertsche, Vice President, has been with Mid-America Asset Management since 2004, also specializing solely in Landlord representation.  Marget and Jaime have extensive experience in an array of product types including mixed-use developments, specialty leasing of lifestyle centers, ground-up projects, power centers, traditional grocery anchored centers and urban retail properties. Through their work in each respective area, they have formed strong relationships with local, regional and national retailers.

Marget Graham

Marget Graham

Jaime Bertsche

Jaime Bertsche

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Learn more about Marget here

Learn more about Jaime here.

Learn more about Mid-America Real Estate Group here: http://www.midamericagrp.com/

DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Episode 32 – Multi-Family Mania - Lee Kiser of Kiser Group

Phil welcomes Kiser Group founder, principal and managing broker Lee Kiser to the podcast. The multi-family market has been one of the most sought after asset classes for investment over the past few years as the retail market has struggled.  Kiser Group, Chicago’s leading mid-market multifamily brokerage firm, has a reputation for innovative service. They assist private investors and property owners with the sale or purchase of both stabilized and value-add multi-family properties. Using proprietary market data, Kiser Group provides extensive, in-depth knowledge of Chicago’s neighborhoods and surrounding suburbs, maximizing value on behalf of their clients.

Lee and Phil discuss Lee’s company, its roots, and big picture business strategies.   Lee is renowned in the Chicago real estate industry, and is one of the premier multi-family strategists.  Phil and Lee discuss Kiser’s narrow focus and their philosophy of proactive marketing strategies customized for each individual property and client. The result has been strong relationships with prominent local, regional, and national multi-family buyers, sellers and financial institutions.

Found out more about Kiser Group here:  http://kisergroup.com/

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DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Episode 31 – Big Data Investments - Todd Stofflet of KIG CRE

In this episode, Phil sits down with Todd Stofflet, Managing Partner of real estate investment brokerage firm KIG CRE. Investing in big data and using that data to drive better investments, KIG is using predictive analytics in new ways.

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Todd Stofflet, Managing Partner, KIG CRE

Todd Stofflet, Managing Partner, KIG CRE

Chicago-based and Mid-West focused, KIG CRE represents some of the most prominent institutional investors and developers in the multifamily real estate industry. Phil and Todd discuss the firm’s innovative use of data-driven intelligence to make investment decisions. Using open source data including occupancy figures, rental rates and demographic trends, KIG provides investors with valuable analytics. Phil and Todd also explore KIG’s recent “State of the Market” report and current trends in the regional real estate industry.

Visit KIG CRE’s website for more information on the company and their reporting: http://www.kigcre.com/

DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Episode 30: Opportunity Zones – Bob Waun and Loren Guzik of Pike Street Properties, LLC

In this episode, Phil sits down with Bob Waun and Loren Guzik, two of the principals of Pike Street Properties, LLC, to discuss the new tax advantaged vehicle that everyone is talking about:  Opportunity Zones.   Pike Street is currently embarking on an endeavor to create and raise capital through the use of Opportunity Zone Funds, which was created by the Tax Cuts and Jobs Act of 2017 (a/k/a the Trump Tax Plan).   Pike Street intends to raise these funds and invest in the communities they care about, namely, Pontiac and Flint Michigan.    These gentlemen have been trying to revitalize these blighted areas for years, and now through this new vehicle, they may get their opportunity.  

This bi-partisan initiative allows capital gains to be invested in certain designated opportunity zones and, if done following numerous specific guidelines (some of which are still being determined), can have significant tax benefits including deferred gains, step up in basis of 10% after 5 years, 15% after 7 years, and a waiver of gains on the appreciation of the investment if held for over 10 years.  

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Bob Waun

Bob Waun

You can learn more about the Opportunity Zones and Pike Street here: https://www.pikestreetproperties.com/

DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Episode 28 - ICSC RECon Recap – Tom McGee

During the busiest day of the RECon convention in Las Vegas, Phil sits down with the President and CEO of ICSC, Tom McGee, for a cup of coffee.   The RECon convention was a bustling, energetic, invigorating convention, and Tom McGee was proud to be an integral part of it.  Tom’s discussion focuses on the demographics of retail, the growing top line revenue of brick and mortar stores, and the continued integration of e-commerce and experiences into existing retail establishments.    It was an honor and a pleasure to have Tom share his views on the current real estate climate, and expound upon the services provided by ICSC to its many members. 

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If you would like to learn more about the International Council of Shopping Centers, please visit the website at https://www.icsc.org/.   You can also learn about the RECon event here:  https://www.icsc.org/attend-and-learn/events/details/recon-the-global-retail-real-estate-convention6

DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.