Grant Reaves, Managing Director and Co-Founder of Stoic Equity Partners, discusses the industrial real estate market. Stoic primarily invests in multi-tenant flex industrial properties in the Southeast region of the United States. They focus on secondary markets that offer in-place yield and potential for rent growth. The demand for flex industrial space is high, with a variety of tenants including home services businesses, pharmaceutical companies, general contractors, and more. Stoic follows a value-add strategy, acquiring properties with varying degrees of stabilization and pushing rents to increase returns. They have recently launched a fund to raise equity for their acquisitions. Grant Reaves and Joshua Kahr discuss their experiences in the real estate industry and the growth of their firms. They talk about the importance of remaining humble and working well with partners. Grant shares the story of how he and his partner Jeremy Friedman started working together and their different backgrounds in investment banking and home building. They discuss the evolution of their firm and their plans for future funds. Grant also shares a funny story about discovering people living in one of their self-storage units. They talk about the importance of marketing and building relationships with investors.
Keywords
industrial real estate, flex industrial, secondary markets, in-place yield, rent growth, value-add strategy, fund, real estate, growth, partnership, investment banking, home building, fund, syndication, marketing, investors
Takeaways
Stoic Equity Partners invests in multi-tenant flex industrial properties in the Southeast region of the United States.
They focus on secondary markets that offer in-place yield and potential for rent growth.
Flex industrial properties have a variety of tenants, including home services businesses, pharmaceutical companies, and general contractors.
Stoic follows a value-add strategy, acquiring properties with varying degrees of stabilization and pushing rents to increase returns.
They have recently launched a fund to raise equity for their acquisitions. Remaining humble and working well with partners is important in the real estate industry.
Building relationships with investors and marketing through various channels is crucial for raising funds.
The evolution of a firm often involves starting with friends and family, then moving to syndication, working with family offices, and eventually launching a fund.
Putting out content and showcasing expertise through blogs, videos, and podcasts can help attract investors.
Flexibility and problem-solving skills are valuable assets in the real estate business.
The internet has made it easier to raise funds and connect with investors from different locations.
Finding the right investors who align with the firm's vision is key to long-term success.
Documenting everything on social media can have unintended consequences and impact one's reputation.
Selling and convincing are important skills in both brokerage and fund management.
Keeping things simple and not overcomplicating deals is crucial in the real estate industry.
Chapters
00:00 Introduction and Background
02:10 Investing in Multi-Tenant Flex Industrial Properties
04:59 The Diversity of Tenants in Flex Industrial
10:00 Trends and Outlook for the Industrial Market
12:53 Value-Add Strategy in Industrial Real Estate
14:55 Stoic's Approach to Property Management
20:11 The Evolution from Syndication to Fund Management
23:03 Attracting Investors through Content Marketing and Relationship Building
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Cardiac Cowboys
The heart was always off-limits to surgeons. Cutting into it spelled instant death for the patient. That is, until a ragtag group of doctors scattered across the Midwest and Texas decided to throw out the rule book. Working in makeshift laboratories and home garages, using medical devices made from scavenged machine parts and beer tubes, these men and women invented the field of open heart surgery. Odds are, someone you know is alive because of them. So why has history left them behind? Presented by Chris Pine, CARDIAC COWBOYS tells the gripping true story behind the birth of heart surgery, and the young, Greatest Generation doctors who made it happen. For years, they competed and feuded, racing to be the first, the best, and the most prolific. Some appeared on the cover of Time Magazine, operated on kings and advised presidents. Others ended up disgraced, penniless, and convicted of felonies. Together, they ignited a revolution in medicine, and changed the world.