Summary
In this conversation, Joshua Kahr speaks with Eric Doroski, Managing Partner at Zanzibar Capital, about their focus on the Boston market and their investment and development pipeline. They discuss the challenges in the current market, including the lack of debt and equity, and the impact of interest rates. Eric shares insights into their current project, a 32-unit condo development, and the importance of understanding the retail condo market. They also discuss their data-driven approach and how they convey this to their investors. Eric highlights the trend of affordable housing projects and their equity sources, including working with family offices.
Takeaways
- Zanzibar Capital focuses on the Boston market, particularly in the greater Boston area, with a focus on multifamily and mixed-use properties.
- They are currently working on a 32-unit condo development project in South Boston, which includes ground-floor retail and affordable units.
- Eric Doroski emphasizes the importance of a data-driven approach and the ability to provide quantitative answers to investors' questions.
- They discuss the challenges in the current market, including the disconnect between buyers and sellers, and the impact of interest rates. However, there are still opportunities for investment and development.
Chapters
00:00 Introduction and Background
01:02 Zanzibar Capital and Focus on Boston Market
03:18 Investment vs. Development Pipeline
04:27 Challenges in the Current Market
05:12 Current Project: 32-Unit Condo Development
07:14 Retail Condos and Specialized Investments
08:06 Focus on Core Competencies
09:08 Cashless Society and Amenities
09:54 EV Charging and Future-Proofing
11:56 Interest Rates and Future Opportunities
13:13 Data-Driven Approach and Investor Communication
15:22 Unique Value Proposition and Gut Feelings
19:49 Trends in the Market: Affordable Housing Projects
23:04 Equity Sources and Working with Family Offices
26:41 Interesting Market Trends and Opportunities
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This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry.
Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/
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