What are Family Offices Looking For?
www.arrivatollc.com – A few days ago, I was speaking as part of a panel with other family offices. These are always very enjoyable. I enjoy trading thoughts with other families and discussing multiple topics.
The most common thoughts discussed on alternative strategies were pursuant to venture investing and the energy markets. At the same time, I dropped some thoughts on my beliefs on the important role of private family money in society, which is a topic for another day.
I was asked about some of our thoughts on the real estate market and how we underwrite multi-family for our portfolio.
I am not going to get into details since many in the audience paid to listen to this discussion, but one common theme we all discussed that I will share is what we are looking for as family offices in general.
As family offices, we are tired of the same tired approaches of brokers and entrepreneurs pitching us opportunities. At the same time, we do not want to see the same private equity opportunities that are being passed around the industry by the same brokers and investment bankers.
The same generally holds true for our acquisition strategy in multi-family real estate. The same brokers are pushing real estate opportunities that we all have seen. There is nothing compelling here. In fact, last night, I received an email from a broker on an asset in the Dallas, Texas Market that I have seen for now the seventh time and none of them realize the asset is now also listed by one of the major brokerage houses on the market.
Here is the bottom line…
We want to meet the best people every day and see transactions that nobody else is seeing.
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