TIP337: How to Identify Value in Commercial Real Estate w/ Ian Formigle
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 21 February 2021
⏱️ 63 minutes
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| 0:00.0 | You're listening to TIP on today's show we bring back a guest by public demand Mr. Ian for me |
| 0:06.3 | Lee is over 24 years of experience in real estate private equity startups and options trading as the CIO of |
| 0:13.6 | Crowd Street is over 400 offerings with over 13 billion in commercial real estate today |
| 0:19.8 | We talk about how to value commercial real estate how to take advantage of trends not fully priced into the market and |
| 0:25.2 | The five best set is to invest in right now so without further delay here's our interview with Ian for me Lee |
| 0:36.0 | You are listening to the investors podcast where we study the financial markets and read the books that influence self-made billionaires the most |
| 0:44.0 | We keep you informed and prepared for the unexpected welcome to today's show I'm your host Dick Brodison and by public demand |
| 1:00.7 | You have one of our favorite guests with us here today and that is Ian for me Lee chief investment officer |
| 1:06.2 | Crowd Street and he's with us for the sixth time so first of all thank you for joining me today here in the investors podcast stay |
| 1:14.0 | It's a pleasure to be back on this show as you know I'm a big fan of what you do and I love coming on this show |
| 1:20.1 | So I'm eager for today's conversation |
| 1:22.9 | That sounds fantastic and Ian as we kick off this interview talking about the outlook for commercial real estate in 2021 |
| 1:30.5 | Let's first take a look at 2020 because it's not possible to say 2020 without talking about the coronavirus |
| 1:38.0 | So let's get right to it. How did commercial real estate perform in 2020? |
| 1:44.2 | So to begin with the key theme for commercial real estate performance in 2020 was just simply |
| 1:51.9 | unprecedented price dispersions that was driven by the effects of the pandemic |
| 1:56.4 | The results were either good or very bad depending upon varying circumstances |
| 2:02.8 | So to begin let's provide some context as we get into the numbers |
| 2:06.0 | And I think we can look to some benchmark for a little bit of help. I think the first is the S&P right that finished 2020 at up 16.26% |
| 2:14.2 | I think we can all agree stick that that's a fairly amazing annual performance number given where the index sat mid-year |
| 2:20.5 | Second is public reads the NSC I US index captures 99% of all US reads |
| 2:28.0 | So it's a pretty good proxy and that was down seven and a half percent for the year and that's an unlevered number |
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