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 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 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 29: Dean Marks, Esq. - Sterling Bay

“Bring us your Biggest Idea” is the mantra of Sterling Bay.  Phil sits down with long time Sterling Bay General Counsel and Principal, Dean Marks, to discuss Sterling Bay’s history of big ideas, notable developments, and future massive projects.   Starting with a review of the major redevelopments of buildings in the West Loop and Fulton Market areas, including the Google headquarters and former Oprah Harpo Studios turned McDonalds.   Then, the conversation turns to the massive project along Chicago’s North portion of the river—Lincoln Yards.   Lincoln Yards is grand in both vision and scope, and projects to extend the 606 pedestrian thoroughfare, renovate the existing Metra train station at Clybourn, and create an enormous 70 acre mixed use commercial, residential, and transit focused community where people can live, work and play.    This is the site of course where Sterling Bay is trying to lure the Amazon 2nd Headquarters, and building a stadium for sporting and live entertainment events.   From there, Phil and Dean talk about the history of Sterling Bay, it’s growth, and it’s fun passion project called Victory Ranch. 

 

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Learn more about Sterling Bay HERE

Learn more about Lincoln Yards HERE  

Learn more about Victory Ranch 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.

Episode 26 - Mike Piper - Student Housing and Tax Incentives

Joining Phil on this episode is Mike Piper, the CEO of ICS Tax, LLC, to explain P3s, or Public-Private Partnerships, and tax strategies such as cost segregation. Mike brings a wealth of expertise to provide beneficial tax strategies to both public and private entities that have made investment in student housing facilities beneficial. By using the example of public universities, Mike shows how pairing together a tax paying private entity with a tax free public entity can create a win-win for developer and university.  Mike then delves a little into his business and the software they have developed to help companies large and small identify beneficial tax strategies.

You can learn more about ICS Tax, LLC here:  http://ics-tax.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, SATC Solution Center L3C, or Schenk Annes Tepper Campbell Ltd. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Episode 22 - Doug Childers

Doug Childers (HFF) on housing tax credits.  What happens when the government utilizes market forces to reinvigorate its public housing programs? For decades, publicly subsidized affordable housing was an underutilized aspect of commercial real estate. This all changed in 1986 with the introduction of the Section 42 Low-Income Housing Tax Credit (LIHTC) program that incentivized private developers and investors to work together to modernize the US’s public housing infrastructure. To give you an idea of the scale of this program, our guest advises that over 50% of the rental units in America today have component of section 42 tax incentives.

Doug Childers, Managing Director at HFF’s Atlanta office (formerly, Holliday Fenoglio Fowler), sits down with Phil and Raul to discuss LIHTC and other tax incentive programs. In his 10 plus years in the industry, Doug has been in involved in the disposition of over 1 billion dollars in affordable housing assets throughout the country including Parkway Gardens on Chicago’s south side. Doug takes Phil and Raul through the hurdles of affordable housing transactions and how LIHTC has incentivized companies, like Google, to get involved in the affordable housing tax credit market. Doug discusses how he built his book of business as a broker and finds leads. Doug also shares his experience working in the Atlanta Braves clubhouse during their dynasty years and the genius of Bobby Cox.

Learn more about Doug’s work in affordable house here: 

https://www.linkedin.com/in/doug-childers-1510117/

http://www.multifamilybiz.com/PR/778/HFF_Closes_694Unit_Affordable_Housing_Sale

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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, SATC Solution Center L3C, or Schenk Annes Tepper Campbell Ltd. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Episode 20 - Donna Salvatore

Data analytics are everywhere. The commercial real estate industry is ultra-competitive and companies are looking for any sort of edge.  Phil sits down with Donna Salvatore, the CEA and founder of Megalytics, a Chicago based tech company providing data analytic services to the commercial real estate industry.  Phil and Donna discuss the value of utilizing big data, the trend of data being applied to various industries, and specific applications to the commercial real estate industry. Megalytics has proprietary software which assimilates data from over 100 sources and scores prospective commercial tenants to help property owners determine the tenant’s ability to meet financial obligations.   

Megalytics is an impressive Chicago based start-up that enables timely, effective investment and management decisions through an automated platform that integrates large and disparate data sources and proprietary algorithms and scoring models to help standardize due diligence and risk assessment processes.   The founder, Donna Salvatore, has a 37-year track record for successful launching and growing new businesses in data analytics and technology, with 22 years as CEO of a number of different SaaS/IT companies. Before founding Megalytics, she was Group CEO of Techniche (Australia) managing a global portfolio of IT Companies located in the UK, Germany and Australia as well as doing M&A work. Prior to that she was the CEO of an early stage health care company in healthcare population management and medical homes. Prior to that she was CEO of an artificial intelligence/knowledge management company with a focus on CRM.

Learn more about Megalytics here:  http://megalytics.net/

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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, SATC Solution Center L3C, or Schenk Annes Tepper Campbell Ltd. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Episode 18 - The University Club of Chicago

The University Club of Chicago is a private city club residing in a gorgeous 13 floor gothic skyscraper located at the corner of Monroe and Michigan Avenue in downtown Chicago.   Phil recorded this episode onsite with its general manager, John Spidalette, head chef and restaurant manager, Mark Baker, and chief engineer, Marty Keane, to discuss the opening of $13.5 million expansion on the 7th and 8th floor.  This is a unique development as it involves combining two buildings, dealing with landmark building issues, and raising funds to deliver a beautiful new restaurant (The Parliament), private dining space, two outdoor spaces including a balcony overlooking Millennium Park, and a more casual sports bar area called The Living Room. The project includes design and architecture by Antunovich Associates, general construction services rendered by Bulley and Andrews, and owners representative JLL.  We release this episode just one day before its formal opening to membership. In full disclosure, Phil is a longtime member of the University Club, involved in club governance, and this is his home away from home.

Find out more about the University Club here:  http://www.ucco.com/

Check out the Expansion Project video here:  https://www.youtube.com/watch?v=6YMTKCHORJA#action=share

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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, SATC Solution Center L3C, or Schenk Annes Tepper Campbell Ltd. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.