A very unique deal and conversation on today's episode with my good friend Matt Wideman. Matt joined Newmark in 2015 as a Transaction Manager with significant experience in the industry including acquisitions, dispositions, asset management and property management as well as development and capital markets analysis.

Matt graduated cum laude with a Bachelor of Business Administration degree in finance from Southern Methodist University while being a starter on the SMU men’s soccer team where he competed in the College Cup. After a short stint in Major League Soccer (MLS), he began his career in commercial real estate.

In today's discussion, we look at a portfolio by a syndicator that was having some issues with profitability that kept buying properties to stay afloat. Matt and his team looked at each individual deal to find equity in some of the 52 assets and the rest you'll have to find out in the episode!

Time Stamps:

(1:21) Matt’s Bio

(3:32) Why Multi-Family?

(4:51) Matt’s Deal

(7:52) Average Vintage

(18:20) Issues With The Deal

(22:52) Business Plan and Exit

(26:25) Overcoming Challenges

(33:22) Summary

(37:08) One Thing Matt Would Change

(44:55) Buy or Sell

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As you know, we talk deals on this show to give you some of the nuance and steps that sometimes go overlooked. While we do dive into another deal on today's episode you won't want to miss, we also talk about some wild deals as well.

Will Givens is a Senior Vice President in the Dallas-Fort Worth Debt and Structured Finance division at Colliers. He specializes in structuring and negotiating real estate financing for corporate clients and real estate investors. He has an extensive background in business development, loan origination, and equity placement.

Prior to joining Colliers, William was a Vice President at CBRE’s brand Capstone Financial. Him and his team have originated, structured, and closed over $12+ billion in real estate loans for a broad range of commercial asset types including single and multi-tenant retail, multifamily, industrial, mixed-use, office, hospitality, and healthcare. 

Time Stamps:

(1:20) Will’s Background and Intro

(4:15) Knowledge and Diversity Within The Real Estate Industry

(5:34) Unique Previous Deals

(10:36) Wildest Deal

(14:50) Why Multi-Family?

(17:00) The SAFE Method

(17:14) Will’s Deal

(19:36) Size and Number of Units

(26:44) How Offer Was Received

(29:27) Financing and Going To The Market

(40:10) Leverage on Deal

(43:02) Timeline

(50:32) One Thing to Change in Multi-Family

(52:20) Advice for Getting Into the Business

(55:48) Future of Multi-Family

(1:00:00) Buy or Sell

(1:04:18) Where to Find Will

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Another great deal talk this week with my good friend Chris Mendenhall. Chris is the Senior Vice President of Investments at ClearWorth Capital, a University of Arkansas at Fayetteville Alum, and has a wealth of knowledge and experience in the commercial real estate game.

He brings an interesting deal to us and, like our previous episodes, we'll run it through my SAFE method, analyze the deal, explain the investment to exit timeline, and have some fun questions at the end as well.

Time Stamps:

(1:19) Chris’s Bio

(3:17) Why Multi-Family?

(4:48) The SAFE Method

(4:57) Sourcing The Deal

(8:36) Analysis of the Deal

(10:42) Investment to Exit Timeline

(13:47) Structure and Financing

(16:30) World Shutting Down During COVID

(31:02) The Result

(34:22) One Thing to Change in Multi-Family

(36:12) Advice Getting Into The Business

(37:29) Future of Multi-Family

(39:22) Buy or Sell

(44:20) Where to Find Chris

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Follow Me on Instagram: https://www.instagram.com/kevparrish/