Favorite real estate icons
I'm going through investors archive YouTube real estate interviews now but am still relatively ignorant regarding real estate leaders. I'm thinking along the lines of the Ray Dalios/Howard Marks of real estate; aside from our beloved President of course. Was wondering if anyone has some people in mind
josh flagg barbara corcoran just a couple icons off the top of my head
Josh flagg whaaat, the guy was born a millionaire and only sustains his brokerage because of his grandmother's rolodex
you're trolling on the josh flagg comment, right?
Jonathan Gray leads Blackstone's Real Estate division and is pretty insightful
Lunch with a Veteran Real Estate Icon (Originally Posted: 11/30/2016)
If you were to have lunch with a CEO of one of the largest Real Estate Companies in the world. What would you ask them?
You have prepped for the lunch and have read about their life in the industry. (I.e. their move from CEO of a major brokerage firm. To CEO of an private investment firm. To CEO of multiple RIETs).
What questions would you ask that you cannot read about online?
Second on Gray, I really like his talks that are on the Investor's Archive channel. Not real estate, but some others I recommend are Ken Griffin, James Simons, Bill Ackman, and Peter Thiel.
Here's one of Gray and Ackman talking about REITs in 2012:
Thanks for sending this @sosa2k" . Since these are interesting and useful to the forum, is anyone willing to share any similar videos that they enjoyed? Here are some more -
Sam Zell at Wharton -
Barry Sternlicht at Wharton - https://www.youtube.com/watch?v=NcgddcNf8-0
You can't go wrong with asking about their 1) management/business philosophy, and 2) what major changes they see coming to the industry. These are awesome subjects because there is no right or wrong answer, and it gives each of you the opportunity to flex your intellectual muscles and to delve into deeper topics than, "what advice can you give someone who is just starting out?"
For #1, do they think that success is all about skills and experience? Or is it about human capital and building strong teams? Do they put themselves 'out there' and lead from the front, or do they like to be the mastermind behind the scenes? How do they identify talent? How do they build successful partnerships?
For #2, what effect do they think driverless cars will have on cities? On suburbs? Will the nascent urban, pro-density 'YIMBY' movement ever eclipse traditional NIMBY-ism? Will Trump's tax and spending plans lead to a sustained boom? A bust? Or a short boom then a bust?
Here's a great profile of him. Sorta dated but mostly relevant.
http://observer.com/2011/08/jonathan-gray-blackstones-real-estate-wizar…
This is great
bill zeckendorf, barry sternlicht, jon gray, sam zell, charles kushner, grant cardone (not personally), the wilf family, stephen ross, jon hanson, "K. Hovnanian"?....that's about all I've heard of
steve roth and michael fascitelli too
Obviously a rich uncle, dad, grandparents, etc. (if you have one... I don't but if I did this would be my #1)
Donald Bren (Irvine Co.) Barry Sternlicht (Starwood) David Weintraub (Howard Hughes) Rick Caruso (Caruso) Sam Zell (Equity Investment Group) Joseph Sitt (Thor Equities) Aidan Brooks (Tribeca Holdings) Roy March (Eastdil Secured–not a career investor but arguably the best advisory professional in the world)
Throw Gray in there and this would probably be my list as well.
deleting this comment
How so?
Personal life aside he provides good commentary:
I think you might want to revise that Joseph Sitt inclusion in a couple years.
Art Falcone from Encore Capital Management has a pretty cool story too he's definitely up there for me
Richard Baker from Hudson Bay Companies makes moves too. Leading prop-co/op-co player in the retail space.
Sam Zell was mentioned a couple of times above but would reiterate. His book "Am I Being too Subtle" has a good personal history and some good anecdotes which detail his investing style and highlight some great deals. He does the reading for the audible version and I would highly recommend if you like books on tape. He is really the only top RE guy I can think of who shares his insights on markets/investing etc. as publicly as Dalio or Marks (Marks' firm is a huge RE player, but wouldn't consider him primarily a RE guy).
Can't disagree with anyone on @three.commas" list above. Would add Bruce Flatt (Brookfield). Diversified investor but obviously huge player in RE space, and he seems to have a unique approach.
DONALD J TRUMP
(The Haters and Losers have more monkey shit than we have bananas, but it is HIGH ENERGY that will Make America Great Again - TACTICAL PEPES INCOMING - POST YOUR ULTRA RARES!)
Jay Paul
As far as NYC: Gray, Sutton, Ashkenazy, Sitt
Ken Griffin gets honorable mention simply because of his personal house purchases (still technically a real estate leader, right?)
I was waiting for someone to mention Jeff Sutton. He’s about the only self-made real estate billionaire I can think of who got there without really having any outside investors. His MO was to create so much value on the deal that he could get $13 million in financing on a $10 million purchase.
Gerald Hines
100% agree, I worked for him, mans in his 90s and still going strong!!!!
I wouldn't put him in Jon Gray's level, but I'd through Dan Neidich into the mix.
Definitely, Dune crushes it. And just absolutely crushed life starting with his GS cash out.
Some good names in the above comments. I'd love to read an autobiography on some of those guys. To think that Irvine guy went out and bought 10,000 acres (per Wiki) in So Cal while in his late 20's and developed it all - how do you relate to that these days?! Also makes me think, who are the guys out there now following in these footsteps. Kinda puts things into perspective (i.e. WTF am I doing with my life).
Every heard of World Class Capital Group? Read up on their founder Nate Paul if you want to see this generation's Donald Bren.
Damn, nice
ackman talks a bit about donald bren's model in the video below:
Wouldn't say he is an icon yet by any means, but Ben Weprin of AJ Capital is someone to keep an eye on - doing some interesting stuff and is a pretty young guy.
Agreed; big fan. I have 0 interest in the hotel business, but their platform is very cool.
Michael Stern (JDS Development) I like guys like him that built firms from ground up with no family money and suc Scott Rechler (RXR Realty) Sam Zell Gerald Hines Jonathon Gray Stephen Ross
I agree with that, but you also have to look at someone like Michael Stern and wonder what happens to him when the NYC luxury market turns.
He's an ultra-luxury developer who started his career at the moment the NYC luxury market started picking back up, hit a couple home runs, and hasn't ever experienced a moment until the last 12 months where prices weren't shooting up for the product he builds. Beyond that, it's tough to tell how much ownership he has over any of these buildings - syndicating out your equity is great, and de-risks a project, but the great real estate dynasties are built by owners who hold on to their stake.
I think what he's done is super impressive, and worth the accolades he gets. But you've got him in there with heavy hitters like Sam Zell and Stephen Ross, guys who have survived multiple down cycles and come out on top. To my mind, those are the real titans of the industry, not pure condo developers who hit the right number in roulette because they started developing at a point in the market where prices were consistently going up, where financing was easy to obtain and equity sloshing around like water. If he loses 111 W 57th St, does he still stay on this list? I mean... he's successful, but that project is already a major black eye, without even considering that it might bomb, and without considering it might be foreclosed on.
Great point on timing of entry with some of these names people throw around... Guys like Stephen Ross an Sam Zell are absolute titans. SB'd
Michael Stern got family (and friends) seed money
Here's my list in no particular order.
Manny Khoshbin William (Bill) Zeckendorf, Sr. William Zeckendorf, Jr. Rick Caruso Gerald Hines Donald Bren Steve Eisman (not directly in RE but threw him in because why not?) Steve Wynn Bugsy Siegel (again, because why not?)
SB'd for Manny, i completely forgot about him!
You can remove Manny.... its all fake. Know him personally.
What do you mean by its all fake? I've met him and he seemed very genuine. But I'm curious what is fake?
Trammell Crow. Jorge Perez, Related Group Miami.
Peter Linneman since I know him personally
Weird flex but okay.
My father.
John Dewberry
One person overlooked here is Bill Sanders. He founded LaSalle back in 1968 and is essentially the godfather of the modern REIT. After selling his stake in LaSalle he then founded Security Capital in Santa Fe, NM. Out of Security Capital came: ProLogis, Archstone, Regency Centers, Storage USA and CarrAmerica. He was Trammell Crow for real estate finance. If you were to make a mentor tree from Security Capital it would look like Goldman PE/Hedgefund spinoffs for Commercial Real Estate. Guys like Zell, Hines and Crow are always mentioned but for some reason Bill Sanders never gets due credit.
https://scholarship.sha.cornell.edu/cgi/viewcontent.cgi?article=1078&co…
aby rosen
Michael Bluth
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