Everyone embraced the stay-at-home and work-from-home instructions at the beginning of the global coronavirus pandemic, quickly adjusting their work, organizations, companies, and lifestyles. Offices became somewhat redundant and remained vacant, begging the question if we will ever use them again. Almost a year later, however, things are shaping up to be a lot different than originally expected. Today’s guest is Brian Adams, the President and Founder of Excelsior Capital, where he spearheads the investor relations and capital markets arms of the firm. He has 10 years of experience in real estate private equity. Before forming Excelsior Capital, Brian co-founded Priam Properties in 2010 and provided leadership and direction for them in connection with capital markets, investment management, and investor relations. Tuning in today, you’ll find out what got him interested him in real estate, why he changed his career path, how COVID has impacted his company and their portfolio, and the effect of the recency bias. Brian also shares some interesting takeaways on the commercial market and how office space is shaping out much differently than predicted. Tune in today for all this and more!
Key Points From This Episode:
- Hear more about Brian and how he became interested in real estate.
- Why Brain didn’t want to end up or become like the 60-year-old lawyers he met.
- The concept of the Hero’s Adventure: taking the step while being ignorant to the risk!
- More about Excelsior Capital and what they are working on.
- Hear about the assists they are focused on and the deals they are working on.
- How 2020 and COVID have impacted their portfolio.
- How COVID has impacted the thoughts behind office space; pre-and post-pandemic.
- How recency bias affects us all: it’s not going to be the same as before.
- Hear how their strategy has changed going forward: the suburban office deal challenge.
- Brian explains what a one-story flex is: that area two to three miles from your airport.
- What a traditional commercial deal looks like for an investor and how it is structured.
- The types of investors investing in these deals: taxable, accredited investors only.
- Why Excelsior Capital’s direct response to feedback is cash on cash.
- How they plan to continue to grow over the next couple of years.
- Brian’s perspective on cap rates in the commercial market sectors.
- One question that every investor should ask their deal sponsor, according to Brian.
- What Brian is most proud of in his career: pushing through the painful process.
- What books you should be reading, like The No Rules Rules.
- The number one key to success: grit!
Links Mentioned in Today’s Episode:
Brian Adams on LinkedIn
Brian Adams
Excelsior Capital Group
The No Rules Rules