Private Equity Real Estate with Dave Seymour of Freedom Venture Investments

On this episode of Real Estate for Breakfast, host Phil Coover is joined by CEO of Freedom Venture Investments, Dave Seymour.  On this extremely entertaining episode, Phil and Dave discuss private equity real estate investing in the lower-middle market in Florida and challenges and opportunities in the current climate. In addition, Dave explains his journey from firefighter to fundraiser and private capital investor. They cover everything from deciding which deals to fund to raising capital and to adjusting to the market.

Freedom Venture Investments is a private equity real estate firm delivering institutional-quality management and operations to the lower-middle multifamily sector. The firm is based in south Florida and predominantly acquires assets within the southeast market. Their partners enjoy passive, income-producing returns—plus additional gains upon the property’s sale. Each of the Freedom Venture principals, at some point in their careers, left the safety of employment and went on to build successful businesses with profitable exits. They created Freedom Venture because they believe it is the best place to grow their own portfolios. They came together out of choice with purposeful intention and a common goal to build wealth for themselves and their investors through cash flowing real estate. With more than two decades experience operating in the Florida market, the management team has built an extensive network of relationships with local and national brokers, lenders and special service providers experienced in distressed commercial real estate. These relationships provide superior access to investment opportunities.

Dave Seymour, a retired 16-year veteran of the fire service, launched his real estate career more than a decade ago, rapidly becoming one of the country’s top investors. Within his first few years, Dave transacted tens of millions of dollars of real estate and has become one of the nation’s leading experts in commercial multi-family transactions. His unabridged passion for business and real estate put him on the radar of A&E television network, as well as multiple news organizations like CBS, ABC, CNBC and FOX News. “Flipping Boston” aired on A&E for multiple seasons. Dave has been sought after, as a no-nonsense investor with zero tolerance for inefficiency and speculation. Dave is well-known for doing business alongside investors of all experience levels and has helped accredited investors on their very first deal, as well as guided some of the largest investment firms in the nation through complex transactions. Dave’s blue-collar attitude in a white-collar world is why investors seek his advice and want to invest alongside his team at Freedom Venture Investments. His partnership with Shark Tank’s Kevin Harrington has disrupted the Private Equity landscape allowing investors access to institutional quality CRE assets that have typically only been for the elite.

For more information, please visit https://www.freedomventure.com/.

Sustainable Chicago Real Estate with Cotter Consulting

In this episode of Real Estate for Breakfast, host Phil Coover is joined by two guests from Cotter Consulting, Founder and President Anne Cotter and Group Manager Deeta Bernstein, to talk sustainability, which is an important and growing characteristic of real estate development.

Phil and Anne first discuss Cotter’s role as an owner’s rep project and construction firm. Being an owner’s rep means Cotter becomes an extension of the client’s staff. Cotter serves clients with projects from transportation and aviation to buildings, as well as those in the energy sector, providing project management and construction management services, and then project control services, which is cost schedule information management and data management. Anne also lets Phil in on her entrepreneurial journey to found and grow this great company as a women-owned business.

Throughout her 40-year career in the Chicago construction industry, Anne Cotter has provided program, project and construction management services for diverse corporate, public and institutional clients. As Founder and President of Cotter Consulting, Anne built a purpose-driven organization that contributes to project success and provides value to clients through leadership and results. A strategist and groundbreaking industry leader, Anne was the first woman to be named President of the Chicago Building Congress and was the recipient of the organization’s 2018 Award of Honor. She has served on industry Board’s such as Illinois Road and Transportation Builders Association, Bradley University Civil Engineering & Construction Advisory Council, and is affiliated with the Construction Management Association of America (CMAA).

As Group Manager for Cotter Consulting, Deeta Bernstein has been helping clients to achieve their project, program and sustainability goals for more than 25 years. She is passionate about accelerating the adoption of sustainable practices to create a more environmentally sustainable world while ensuring project performance. In her role as Sustainability Manager for the Public Building Commission of Chicago’s (PBC) Program Management team, the intersection of her program expertise and her passion for sustainability was instrumental in supporting the $2.6B+ program, which has resulted in close to 100 LEED certified projects to date and has helped to re-frame sustainability expectations in the city of Chicago.

Industrial Real Estate Market Analysis with Joe Moriarty of Dayton Street Partners

Today on Real Estate for Breakfast, host Phil Coover and his co-host Jay Augustyn are joined by Joe Moriarty of Dayton Street Partners LLC (Dayton Street), a commercial real estate investment and development firm focused on the acquisition and development of high barrier to entry infill industrial and logistics properties.

On the podcast, Joe shares Dayton Street’s current investment thesis and passion for challenging development projects. Joe discusses Dayton Street’s pursuit of industrial development projects outside of the Chicagoland area and the process by which the Dayton Street team cultivates relationships with key constituencies in the new markets. Joe then shares his thoughts on why he remains bullish on industrial and logistics facility development as we approach living in a post-pandemic world.

Joe Moriarty is a Director of Acquisitions at Dayton Street, where he is responsible for sourcing industrial real estate acquisitions and land for development opportunities. He co-heads the firm’s acquisition efforts throughout the Midwest, while also focusing on Atlanta and the greater Southeast. Prior to joining Dayton Street, Joe worked in the Capital Markets Group at JLL where he specialized in office transactions.  Joe began his career in 2013 as an analyst for GE Capital Real Estate and graduated with a degree in finance from the University of Kansas.

For more information, please visit https://www.daytonstreetllc.com/.

Cultivating Relationships and Innovation in Real Estate with Stream Realty Partners

In this episode of the Real Estate for Breakfast podcast, host Phil Coover and co-host Jay Augustyn are joined by another dynamic duo, Patrick Russo and Brian Duffy of Stream Realty Partners (Stream), a full-service real estate platform representing clients in connection with the investment, acquisition, development and management of real estate across asset classes throughout the United States.

On the podcast, Patrick and Brian explain how Stream’s core values inform their approach to pursuing new business relationships while cultivating the Stream team here in Chicago and throughout Stream’s geographical footprint. Patrick and Brian discuss the current challenges and opportunities for investors, owners and tenants when evaluating Chicago’s real estate market. They also share stories of Stream’s recent wins in the Chicago market and how asset management changes necessitated by COVID-19 presented new opportunities for innovations to a team that embraces innovation as part of its ethos. As an example, Stream describes the recent “Rapid Office” concept and how this new innovation is attracting tenants even in an office market environment with substantial vacancies. Patrick and Brian provide their expectations for Chicago real estate’s post-pandemic future and what that means for Stream’s clients and the market generally.

Patrick Russo is an Executive Managing Director at Stream, where he leads the strategic direction and operations of the Chicago office. Patrick’s primary responsibilities include expanding Stream’s acquisition, development, leasing, and property management platforms and building Stream’s presence in the greater Chicago market. Prior to joining Stream, Patrick was with Lincoln Property Company for more than seven years where he most recently served as Vice President of Acquisitions and Asset Management. While at Lincoln, he assisted in acquisition activities on assets with an aggregate value of more than $700 million on behalf of joint venture and separate account clients. In addition, he was responsible for an asset management portfolio of more than 2.3 million square feet of commercial assets that was valued at more than $500 million.

Brian Duffy is a Senior Vice President of the firm’s tenant representation team in Chicago. He is responsible for growing all facets of the tenant representation business including serving existing and expanding new client relationships while recruiting and retaining top-tier talent. In addition to driving the tenant representation business in Chicago, Brian is responsible for identifying and executing acquisition and development opportunities. Prior to joining Stream, Brian spent seven years at Cushman & Wakefield where he was most recently a Director on the tenant representation team. In that role, Brian participated in more than 125 transactions valued at close to $600 million. His experience spans all industries including professional services, technology, legal, manufacturing and finance.

For more information, please visit https://streamrealty.com/locations/chicago/.

Investing in Hospitality with Highline Hospitality Partners

In this episode of Real Estate for Breakfast, host Phil Coover, joined by co-host Jay Augustyn, chats with Todd Roffman and Jordan Scheiman of Highline Hospitality Partners (HHP), a family office platform focusing on investments in hospitality assets throughout the United States.

On the podcast, Todd and Jordan discuss their backgrounds in hospitality investment and asset management and what excites them about the potential of the HHP platform. Todd and Jordan highlight the advantages of operating as part of a family office platform—greater flexibility in identification of investment opportunities throughout the capital stack, return thresholds and asset hold timeframes. They then share lessons learned in hospitality asset management throughout the COVID-19 pandemic and outline innovations that will endure beyond the end of the pandemic. Todd and Jordan provide their insights into the current state of the hospitality market and opportunities for debt and equity investment in hotel assets in the post-pandemic world.

Todd Roffman is a partner at HHP, responsible for identifying and evaluating new investments in the hospitality sector and asset management of HHP’s existing hospitality portfolio. Prior to joining Highline, Todd was a Director at Garrison Investment Group, a New York based private equity fund, where he was responsible for executing on new hotel acquisitions as well as all aspects of asset management of Garrison’s hospitality portfolio (peak exposure of 55 hotels and nearly 10,000 keys). In his time at Garrison from 2013 through 2019, Todd lead or assisted in the acquisition of 44 hotels totaling more than 7,000 keys with a combined value in excess of $830MM. Todd received a B.A. in Economics from Tufts University.

Jordan Scheiman is a managing director at HHP, responsible for sourcing, evaluating and capitalizing new debt investments in the hospitality sector. Prior to joining Highline, Jordan was a Vice President in the Investment Group of Rockbridge Capital, a private equity fund manager focused exclusively on investments in the hospitality space. Before Rockbridge, Jordan was a Director of Garrison Investment Group where he was responsible for managing all real estate financings across multiple active closed-end private equity funds and separately managed accounts for the firm’s approximately $2 billion in commercial real estate assets under management. Jordan holds a B.A. in Economics and Spanish (Phi Beta Kappa) from Vanderbilt University.

For more information, please visit https://highlinehp.com/

Building-For-Rent in Chicago with Steel City Management

On this episode of Real Estate for Breakfast, host Phil Coover and his co-host Jay Augustyn chat with Brett Holmes and Andrew Dealy, co-founders and managing partners of Steel City Management (SCM), a Chicago-based boutique investment company that develops and manages real estate projects for high net worth individuals and institutional investors. Founded in 2015, SCM identifies innovate investment opportunities that generate sustainable, risk-adjusted return for its investors.

On the podcast, Brett and Andrew discuss their backgrounds and initial forays into real estate investment, sharing lessons learned from hands-on ownership and management of multi-family assets in Chicago.  Brett and Andrew then describe the evolution of SCM’s capital deployment strategy, focusing on investments in single-family residential rental community development. The single-family residential rental product is increasingly popular with individuals and families across generations who increasingly value flexibility but demand high-quality living spaces and amenities typically associated with home ownership. Brett and Andrew describe in detail the successes earned and challenges overcome with their most recent single-family residential rental investments in the suburbs of Minneapolis, MN and Nashville, TN. They also share their outlook for the future of single-family residential rental development and those markets that are ripe for that product.

Brett Holmes has more than 13 years of real estate investment experience. His investment experience includes luxury rehab, value-add multifamily, ground-up single family rental and multifamily development. Brett’s skills include real estate financial modeling, deal structuring, equity syndications, investor relations and capital raising. Brett also has a decade of interest rate futures trading experience at the Chicago Mercantile Exchange and Board of Trade, where he specialized in financial modeling, trade execution, and portfolio risk management.

Brett volunteers as a Board Member of Autism Speaks to Young Professionals in Chicago. He earned a B.S. in Business Administration from Carnegie Mellon University where he played varsity soccer.  He also completed the Commercial Real Estate Investment Course at MIT’s School of Architecture & Planning.

Andrew Dealy has more than 12 years of real estate investment experience. This experience includes value-add multifamily contracting, single family rental development, deal initiation, property management, investor relations and capital raising. Andrew has nine years of securities trading experience on trading desks and in the open outcry markets at the Chicago Board of Trade (CBOT) and Chicago Board Options Exchange (CBOE), specializing in trade execution, deal flow, and portfolio risk management.

Andrew holds a B.A. in Political Science from Yale University where he played varsity soccer.

Learn more about Steel City Management: www.steelcitymgmt.com/.

The State of Chicago’s Multifamily Market in 2021 with Noah Birk and Aaron Sklar, Kiser Group Partners

On this episode of Real Estate for Breakfast, host Phil Coover is joined by Noah Birk and Aaron Sklar, partners with the Kiser Group and two of the highest-grossing brokers of multifamily housing in Chicago. Phil, Noah and Aaron discuss the state of the multi-family market in 2021, as well as how COVID-19 and other events in 2020 impacted the market.

Noah Birk focuses on the disposition of apartment buildings on the South side of Chicago and is Chicago’s highest producing multifamily broker. Since 2014, he has sold more apartment buildings than any other broker in Chicago. He has a reputation of persistence, market knowledge and integrity, which has led to achieving record-setting results for his clients. Noah stays active in the real estate community as a member of the South Side Community Investment Association (SSCIA) and Young Real Estate Professionals (YREP). He is also an experienced operator of his own personal multifamily portfolio.

Aaron Sklar assists investors, developers and property owners on the acquisition and disposition of south side multifamily properties. He has established himself as a multifamily market leader throughout the south side of Chicago, including South Shore, Jackson Park and Chatham. Since 2015, Aaron has successfully completed transactions in excess of $165 million on behalf of his clients, encompassing more than 130 properties and 3,000 units. He has been named a CRE Future Leader by RE Journals, named One To Watch by Bisnow and is regularly mentioned and quoted by an assortment of news and media outlets. In 2017 and 2019, Aaron earned Kiser Group’s Top Closer award. Additionally, he earned two 2019 Commercial Forum Top Producer awards by the Chicago Association of REALTORS, including Platinum for Multifamily Transactions and Gold for Multifamily Sales Volume.

For more information, please visit https://kisergroup.com/.

Constructing Chicago's Skyline During COVID-19 with Michael Meagher, President of James McHugh Construction Company

On this episode of Real Estate for Breakfast, host Phil Coover is joined by President of James McHugh Construction Company Michael Meagher. Many of the buildings that make up the Chicago skyline were constructed by McHugh, including the Vista Tower, which is now the third tallest building in Chicago. Phil and Mike discuss what it was like to build the Vista Tower during the pandemic and how COVID-19 has impacted the construction industry, from material shortages and labor challenges to enhanced safety protocols. In addition, they discuss the 100 Club of Chicago, which provides much needed immediate relief and support to the families of deceased first responders.

Michael Meagher is directly responsible for the overall strategic direction and vision fulfilment for James McHugh Construction Co. Additionally, he reports to the Board of Directors of McHugh Enterprises. He oversees all general contracting activities and associated operations. Starting in the industry as a summer worker for four consecutive years, Meagher took an immediate liking to jobsites and seeing a project from start to completion. Immediately out of college he was hired at James McHugh Construction Co, as an estimator with the company. For over 30 years he exemplifies the company culture of loyalty, promoting within and client satisfaction. He works closely with the company’s senior management team in developing accountable project teams that are empowered to make decisions on the project site to eliminate bureaucracy and provide a seamless project experience. Eliminating obstacles and providing support to project teams is a cornerstone of the management teams’ approach.

Meagher is dedicated to maintaining strong working relationships with clients, ensuring that McHugh’s storied reputation for delivering quality construction solutions is upheld.

As part of his successful strategy of building lasting client relationships and staying on the cutting edge of construction trends, Meagher has led McHugh’s development of a long-term partnership with the U.S. Navy at its Great Lakes Naval Station. He spearheaded the company’s design-build efforts for the $62 million MCPON Plackett Manor Bachelor Enlisted Quarters, whose success spurred the Navy to designate it as a prototype for design-build programs. Since then, Meagher also led a McHugh team to its creation of a design-build program for the Navy’s cutting-edge Battle Stations 21 training simulator.

Meagher has been with McHugh his entire post-collegiate career, starting as an assistant project engineer/estimator, responsible for quantity and labor estimates for rehabilitation and interior projects. He then became a project manager, overseeing retail, office, and healthcare projects. Later, Meagher was asked to set up and manage a marketing department for the firm. As business development manager, he developed target markets and led sales and marketing efforts focused on large, complex construction projects, often in the $100 to $500 million range. Meagher became an officer of the firm in 1997.

During this time, McHugh recognized the potential for great opportunities overseas and construction offices were established in Moscow, Russia and Prague, the Czech Republic. From Chicago, Meagher directed the Eastern European sales and marketing efforts, earning their first major client, Boeing Commercial Aircraft Group. He then helped develop a stand-alone sales and marketing office in Eastern Europe. Although the company concluded its Moscow operations because of a failing Russian economy, it maintained many of the corporate relationships Meagher helped build.

Meagher also spearheads corporate goodwill efforts for McHugh, including the firm’s pro bono construction of the Special Olympics Eternal Flame of Hope Memorial, Ford Heights Little League Baseball Field, and the Chicago Youth Program headquarters. He has served as chairman on the Board of Trustees of his alma mater, St. Mary’s University of Minnesota, the board of Catholic Charities of Chicago, and Chicago Police Memorial Foundation. He currently serves as president of the board of the 100 Club of Chicago, and president of the Chicagoland Associated General Contractors. Meagher also serves on the board of McHugh Enterprises, Inc.

For more information, please visit http://mchughconstruction.com/.

Design Led-Design Build Construction with Mark Wight, CEO of Wight & Company

On this episode of Real Estate for Breakfast, host Phil Coover chats with Mark Wight, Chairman and CEO of Wight & Company, about the intricacies and challenges of architectural design and construction and the efficiencies to the client of a vertically integrated design-led firm that handles design to delivery all in one shop. They discuss some current Wight & Company projects, including the Will County courthouse where the focus is transparency. Phil and Mark also discuss how the COVID-19 global pandemic and the shift to remote working have impacted design and workplace trends and how the company is handling the pandemic.

Mark Wight is Chairman and CEO of Wight & Company, an award-winning architecture, engineering and construction firm that has been in business for more than 80 years. Originally founded by Col. Raulin B. Wight as a civil engineering firm, Wight & Company continues the tradition with a highly acclaimed group of transportation and infrastructure professionals.

When Mark took the helm in 1987, he disrupted the industry by pioneering Design Led-Design Build, an integrated model of project delivery promising design and delivery excellence at unrivaled schedule and cost savings. This multidisciplinary approach connects architects to the cost implications of their design decisions and centers the collaborative process as the key to discovering the most creative and responsible solutions.

Wight & Company is known for innovative ideas, technologies and responsible solutions ahead of their time. As a result, our company has been at the forefront of delivering environmental solutions that were once unorthodox but eventually became mainstream. The company’s culture of sustainability was integral to the successful completion of the first LEED Pilot Project.

The construction value of the firm’s work in progress is over $1B annually and is continually ranked among the top firms in the country. The company has won numerous awards for its work from the American Institute of Architects, Landmarks Illinois, Design-Build Institute of America, U.S. Green Building Council, and many others.

The greatest reward for Mark is working with the brightest people in the industry. Today, the firm boasts a visionary and vibrant culture of around 200 design, engineering, and construction specialists, dedicated to creating meaningful impact in the world today and in perpetuity.

Mark earned a B.A. from Reed College and a J.D. from the University of Notre Dame. While never formally trained in architecture, engineering or construction, Mark has been a determined student of the industry for more than 32 years. 

Learn more at: https://www.wightco.com/

Diversity and Inclusion in CRE with Walker & Dunlop's Jason Golub

In this episode of Real Estate for Breakfast, host Phil Coover discusses diversity and inclusion with colleague and Ice Miller Practice Group Director LaTonya Ellis and Walker & Dunlop Vice President of Diversity, Equity & Inclusion Jason Golub. The guests discuss the topics of diversity and inclusion—how those concepts are similar and how they are different—and why more and more real estate companies are hiring diversity and inclusion leaders and placing a greater emphasis on diversity and inclusion for business, moral, ethical and innovation propositions.

Matt Miller, Ice Miller Partner and Chair of the Firm’s Racial Justice Task Force

But first, Phil introduces special guest Matt Miller, Ice Miller partner and chair of the Firm’s Racial Justice Task Force. As Matt details, the Task Force is really expanding efforts beyond diversity and inclusion, which is traditionally internal, to be the outward face of the Firm as it channels Ice Miller’s highly motivated and highly skilled human resources to address issues of racial injustice in the law and in our communities. 

Matthew J. Miller is a partner in Ice Miller’s Municipal Finance Group. Matt has served as bond counsel, disclosure counsel and underwriter’s counsel on over 100 financings, including various short-term and long-term general obligation financings, revenue financings, working cash financings, refunding transactions and special obligation financings issued by states, large municipalities and transit systems, counties, villages, school districts and other special districts. Matt has specific experience in public transportation and airport-related financings.

LaTonya Ellis, Ice Miller Practice Group Director

LaTonya Ellis serves as a practice group director in Ice Miller’s Real Estate and Municipal Finance Practice Groups. She is responsible for overseeing all aspects of administration, management and day-to-day business operations for the Groups.

In her role, LaTonya works closely with Firm leadership to design and implement strategic plans and develop innovative approaches to business operations and development to help execute the Groups’ business plans. LaTonya also is responsible for implementation of synergies, efficiencies and best practices across the practice groups.

Jason Golub, Walker & Dunlop Vice President of Diversity, Equity & Inclusion

Jason Golub joined Walker & Dunlop in September 2020 as the Vice President of Diversity, Equity & Inclusion (DE&I). In this new role, Mr. Golub is responsible for accelerating and strengthening the company’s commitment to DE&I. Mr. Golub will develop and execute a strategy that further incorporates a diversity lens into the firm's culture, which includes changes to how the firm innovates, serves clients, helps communities, and supports employees.

He is responsible for improving Walker & Dunlop’s existing DE&I strategies and initiatives, as well as helping to foster an environment in which diversity and inclusion are a central and driving force across the firm. As part of his role, Mr. Golub will focus on diverse leadership development, retention strategy, supplier diversity, multicultural talent acquisition, and corporate initiatives that drive inclusion and create an equitable environment for all employees. As Vice President, he also advises Walker & Dunlop’s Council for Diversity, Equity, & Inclusion, supports and expands the company’s employee resource groups (including the Women of Walker & Dunlop and the Minority Employees Resource Group for Empowerment / Engagement / Elevation), and helps strengthen the company’s external DE&I strategy through organizational partnerships and thought leadership.

Prior to joining Walker & Dunlop, Mr. Golub was a senior leader at GE legal, where he focused on high-risk investigations, workplace culture and training, and compliance, while also serving as a senior member of the company's Diversity & Inclusion Council for five years. Earlier this year, he was appointed the chair of the Police Reform and Re-imagination Task Force in Saratoga Springs, NY, a Governor Cuomo-mandated task force aimed at police reform and reducing racial inequality.

Golub holds a Bachelor of Arts from Connecticut College and a juris doctor from Columbia University, School of Law, where he focused on human rights law.

To learn more, visit https://www.walkerdunlop.com/power-people/diversity/.

To learn more about Ice Miller’s Racial Justice Task Force, visit https://www.icemiller.com/racial-justice-task-force/. To learn more about Ice Miller’s Diversity and Inclusion efforts, visit https://www.icemiller.com/firm/diversity-information/.