Daryl J. Carter, a 41-year veteran of the commercial real estate industry, is the Founder, Chairman, and CEO of Avanath Capital Management, LLC. Mr. Carter directs the overall strategy and operations of the Company, a California-based investment firm that acquires, renovates, and operates apartment properties, with an emphasis on affordable and workforce communities. Since its formation in 2008, Avanath has acquired $3.5 billion of properties across 14 states in the U.S., comprising 15,000 apartment units. Avanath is vertically integrated and is an SEC-registered investment advisor and institutional fund manager.

Links

Avanath Capital Management - https://www.avanath.com/

Daryl on LinkedIn - https://www.LinkedIn.com/DarylCarter

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:00:55) - Daryl’s background and career

(00:06:15) - Did you know you wanted to be in Real estate?

(00:07:53) - What got you interested in architecture?

(00:09:24) - Starting Capri Capital

(00:18:28) - The myths of investing in affordable housing

(00:26:36) - How has the affordable housing industry changed over the past 15 years?

(00:32:06) - What do you hope will happen for housing affordability?

(00:37:09) - What is your unique advantage as a firm?

(00:41:08) - What attributes are requirements for communities you own?

(00:45:19) - Are 3-4br apartments going to be the norm in the future?

(00:47:50) - How is the industry doing in bringing a more diverse workforce together?

(00:54:07) - What do you think are markers of great leadership?

Owen Thomas is the Chairman and CEO of BXP. He served as the first Chairman at Lehman from 2012 until 2013 when he joined BXP. Before Lehman, Mr. Thomas was with Morgan Stanley for 24 years serving in several different roles, business units, and locations, including Chief Executive Officer of Morgan Stanley Asia and Chairman of Mitsubishi UFJ Morgan Stanley Securities, while living in Hong Kong from 2008 until 2011. He also held the roles of President of Morgan Stanley Investment Management and head of Morgan Stanley Real Estate and served on Morgan Stanley’s Management Committee from 2005 until 2011.

Links:

BXP - https://www.bxp.com/

Owen on LinkedIn - https://www.linkedin.com/in/owen-thomas-4012a640/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:31) - Owen’s background and career

(00:24:00) - Where are we today in the office market?

(00:29:52) - What do WFH/WFO policy talks look like with tenants?

(00:37:05) - What makes something a “premiere” asset?

(00:43:43) - What is your role in the economic health of a city?

(00:48:01) - What’s your involvement with affordable housing?

(00:50:17) - What’s your take on the overall health of the innovation sector as it rebounds?

(00:53:39) - How do you think about sustainability in the office environment?

Randy is the Chairman of Green Courte and The Parking Spot, Green Courte’s near-airport parking portfolio operating company.

Randy is also a co-founder and former Chairman of Transwestern Investment Company, LLC, and former Chairman and Director of Transwestern Commercial Services, LLC. Randy was also Chairman and Chief Executive Officer of Hometown America, LLC, a large owner of manufactured housing communities.

Links:

Green Courte Partners - https://greencourtepartners.com/

Randy on LinkedIn - https://www.linkedin.com/in/randy-rowe-4822b812/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:14) - Randy’s background and career

(00:10:17) - What was it like working for Sam Zell?

(00:13:42) - How do you think about the evolution of the market over the course of your career?

(00:24:13) - What led you to make the jump to Transwestern?

(00:27:29) - Why didn’t the Rockefeller Center deal not work out?

(00:29:56) - Building Transwestern

(00:34:00) - Starting Green Courte Partners

(00:41:28) - What is a covered land play?

(00:42:51) - How do you think about transforming capital allocations from niche sectors into alternatives?

(00:49:26) - What’s the size of your organization today?

(00:52:02) - What trends are you tracking right now?

(00:58:16) - Closing advice