Jair Lynch Real Estate Partners, Washington DC - Does anyone know them?
Has anyone worked with, or for, Jair Lynch Real Estate Partners in Washington D.C. that can provide some insight into what they are like?
Has anyone worked with, or for, Jair Lynch Real Estate Partners in Washington D.C. that can provide some insight into what they are like?
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Not sure what you want to know, so I'll just ramble. Ask me specifics if you want.
Jair himself is pretty well respected here in DC, and very well connected in gov't. They have certainly grown into some larger equity sources, and their deal sizes have skyrocketed over the last 3-5 years. I have a ton of respect for Jair, and you'll be hard pressed to find someone local (non-competitor) that has a bad thing to say about him. One of the only non-generational MF guys in DC, and the diversity on their team goes a long way in DC (just the way it is in this communist state).
The senior team is full of ivy league types who seem to resent not having blackstone on their business cards, but overall they're OK. They have bid on a couple of our properties, always way off on pricing -always play the "we know DC better than anyone in NY blah blah blah" argument. I have an analyst currently who came from a team who worked a lot on Ame, which is going to be a thorn for them for some time, and that analyst did not have a lot of positive things to say about the culture of their senior guys. It mirrored a lot of what I've seen out of them during the bidding process...
Having said all that, the largest knock on Jair is the space they compete in. If you do not want to do MF in DC for the rest of time, it'd be prudent to look around. DC has TOPA, which is as prohibitive a program as any rent control shit going on in NY. TOPA is a nightmare, and Jair's ability to navigate that process has won him most of his accolades. TOPA will not transfer markets, so you'll become a master at an art you may never use again if you switch markets. I'll reiterate, TOPA is a nightmare. Google it.
All of this is spot on.
Also, fuck TOPA.
Yeah i feel for our MF guys... it's a slimy sector.
This is very helpful, thank you for your response. Can you elaborate any more on the personalities of the senior staff? Feel free to PM if you don't mind taking the time, and don't want to post in detail here. EIDT: I assume the Ame property was one of theirs?
I have never heard of TOPA. I will look into it.
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